NI house prices dip for first time in four years

You are viewing content from Q Newry and Mourne 100.5. Would you like to make this your preferred location?

Tuesday, 16 May 2017 11:27

By David Hunter

Average house prices in Northern Ireland dropped 0.8% in the first quarter of the year.

The latest statistics show nearly 4,400 properties were sold between January and March.

The price drop was the first in four years, however overall house prices rose 4.3% since this time in 2016.

The typical UK property value was £216,000 in March, marking a 0.6% fall compared with February, according to the report released jointly by the Office for National Statistics, the Land Registry and other bodies.

Some experts pointed to signs of a "Brexit-related" slowdown, while others said house prices simply could not continue rising at some of the high levels seen in recent years.

The average price in Northern Ireland now stands at £124,000.