22/08/2012

NI House Prices Down By More Than A Tenth

Figures out today from the Northern Ireland Statistics & Research Agency show that house prices have fallen by 11% in the frst six months of this year.

Land & Property Services released the Residential Property Price Index report for Quarter 2 of 2012, which is compiled from stamp duty information.

Results from the report show that:

• over the year to the end of June 2012 residential property prices fell by 11%;

• between Quarter 1 (January - March) 2012 and Quarter 2 (April - June) 2012 residential property prices fell by 3%;

• looking further back the Residential Property Price Index for Northern Ireland peaked in the third quarter of 2007 (July – September 2007); and

• prices of residential property sold today are now just under half of their peak value (53%);

• whilst sales prices are falling, the overall number of properties sold has remained at around 3,000 for the last four quarters.

(NE)

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