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Northern Ireland house prices rise by 10% in a year
- Author, John Campbell
- Role, ΒιΆΉΤΌΕΔ News NI Economics & Business Editor
House prices in Northern Ireland picked up sharply in the first quarter of 2022, official figures suggest.
Prices were up by 3.4% compared to the final quarter of 2021 and up by more than 10% compared to the same period last year.
In the last 10 years there has only been one other quarter in which prices rose by more than 10% on an annual basis.
The average price for a house in Northern Ireland was Β£164,590.
Prices ranged from Β£145,741 in Londonderry City and Strabane to Β£189,968 in Lisburn and Castlereagh.
The figures are from the Northern Ireland Residential Property Price Index, which analyses almost all sales, including cash deals.
There were quarterly and year-on-year price increases in all council districts.
The quarterly increases ranged from 0.8% in Derry and Strabane to 4.8% in Ards and North Down.
All property types also saw increases over the quarter: detached by 4.2%, semi-detached properties by 3.0%, terrace properties by 2.2% and apartments by 5.9%.
The average house price is now back to roughly what it was in the middle of 2006, but is still well below the peak price of Β£225,000 at the height of the bubble in 2007.
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