House Prices NI - the latest analysisPosted on 07 November 2018
Despite all the doomsday forecasts - the latest findings by the Ulster University has just been released and finds it to be in a healthy position.
The latest Quarterly House Price Index shows that the average price of properties sold in Northern Ireland during the third quarter of 2018 was £161,948; slightly higher (by 1.5% on a weighted basis) than during the equivalent quarter in 2017.
In South Belfast, the overall average price (£241,982) is slightly higher this quarter and this is again the highest priced sub-market in the city
In East Belfast (£180,454), the average price this quarter is slightly lower.
In West Belfast, the overall average price (£122,834) is largely unchanged.
For North Belfast the overall average price (£118,985) is slightly higher this quarter
After strong growth in the first half of the year, the Northern Ireland house market has consolidated with house prices relatively flat in the third quarter of 2018. While there were weaker rates of price growth in the most recent quarter, overall the Northern Ireland residential sector remains in a healthy position.
The lack of clarity around the future relationship between the UK and the EU and the specific and inherent challenges for Northern Ireland may also have curbed investment in the housing market. However, continued affordability, sustainable growth, a resilient economic environment and low unemployment means that the market is in a positive place.