Northern Ireland house prices increase

The price of the "average" home in Strabane, County Tyrone, where house prices are among the lowest in the province, has risen to £105,100 since the end of 2005.

This reflects the rapid rise in the average price of a house in Northern Ireland, which has risen by over 15% in the last year.

In a report by the Northern Ireland Housing Executive, released by the Department of Social Development, it has been revealed that despite this significant rise, Strabane still remains one of the least expensive areas in the province to buy a home, and the last to cross into the £100,000 bracket.

Estate agents in the Strabane area have reported a lot more property placed on the market and investors are beginning to be encouraged into the area as prices increase.

The town is viewed as a good site to use as a base to commute to places like Derry and Omagh, which were experiencing major rises in property prices.

As the average house price in Strabane crossed into the £100,000 barrier, two other areas in Northern Ireland have dramatically leapt over the £200,000 mark.

This now means that the average house in North Down, will cost £215,900 and an average of £208,600 to buy property in Castlereagh, East Belfast.

(EF/SP)