NI house prices still rising

A report by the University of Ulster has revealed that house prices in Northern Ireland are still rising, but the recent boom in the property market has slowed down.

The Northern Bank sponsored survey showed that those most affected by rising prices continue to be first-time buyers while the average price of a house in the province now stands at about £90,000.

The report revealed that while house prices continue to rise, the rate of increase is slowing down with the weighted annual increase now at 4.17 per cent compared with the equivalent quarter in 2000.

The highest rising sectors are in the detached house markets with average prices up by 8.51 per cent to £141,338; semi-detached houses by 6.59 per cent to £81,307; and semi-detached bungalows by 5.87 per cent to £74,349.

Detached bungalows rose by 3.59 per cent to £115,250 and terraced homes by 2.52 per cent to £63,537.

The report into house price trends for the fourth quarter of 2001 was prepared by the Centre for Research on Property and Planning at the University of Ulster in conjunction with the Royal Institution of Chartered Surveyors (RICS) and sponsored by the Northern Ireland Housing Executive.


Related Northern Ireland Business News Stories
Click here for the latest headlines.

07 March 2002
Halifax report continuing rise in house prices
House prices in the UK have risen by almost 17 per cent according to the latest survey figures released by the Halifax. The report, published on Thursday 7 March, has shown that in February, property prices rose by more than one-sixth on the same time a year earlier – representing the fastest annual rate of growth in 12 years.
10 December 2001
Further falls in price of UK manufactured goods
The Office of National Statistics have produced a report which shows that the price of goods manufactured in the UK have fallen in the last month. Between October and November the UK producer prices fell by 0.4 per cent, compared with a fall of 0.2 per cent between September and October.
01 October 2001
UK house prices soar by 2.8 per cent
UK house prices rose 2.8 per cent in September, the highest monthly increase in eight years, according to a report by the building society Nationwide. The figures revealed in the report reveal that the price of the average UK home was 15 per cent higher last month than in September 2000.
13 August 2001
UK producer prices show marginal fall
Overall UK manufacturing prices fell by 0.2 per cent in July from those from June. According to the latest figures available form the Office for National Statistics the past year has seen the prices charged to manufacturers, the input prices, fall for the first time in over two years.
26 June 2002
NI house prices amongst fastest growing in UK
House prices in Northern Ireland have been growing faster than anywhere else in the UK outside London and the Home Counties, according to business advisors PricewaterhouseCoopers (PwC). According to the latest issue of PwC’s ‘UK Economic Outlook’, London house prices rose by 250% since 1995, followed by the southeast of England and East Anglia.