NI house prices still on the rise

House prices in Northern Ireland increased during the first quarter of 2003, according to the latest statistics released by NHBC (National House-Building Council).

These latest figures reveal that the average anticipated selling price of new homes in Northern Ireland registered with NHBC reached £103,000 during the first quarter, an 8% increase on Q1 2002, where prices stood at £95,000.

At the same time, NHBC's first-time buyers' ability to buy index decreased by one point during the period.

This index is based on a formula that takes into account the average cost of homes bought by first time buyers, average income and mortgage interest rates; the higher the index, the greater the ability to buy.

A number of recent reports in the UK indicate that the house price inflation has declined with prices remaining static last month.


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