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House prices in Newry, Mourne and Down District Council area have risen by * 5.6% in the last quarter, * one of the highest quarterly rises in all 11 local council areas in the north. That's according to statistics from Land & Property Services assisted by the Northern Ireland Statistics & Research Agency who today released the House Price Index report for Quarter 3 2021.
Newry, Mourne and Down house prices are up a total of * 13.1% in the past year a figure * surpassed by Derry City and Strabane and Mid Ulster where house cost rose by 13.9% and 14.1% respectively.
Presently the average house price in Newry, Mourne and Down is £172,085 albeit less than the most expensive council area, Lisburn and Castlereagh with an average price of £183,392. The most affordable area to purchase a property is Armagh City, Banbridge and Craigavon Council where the average house price is a full £30K less at £140,983.
The Index measures change in the price of residential property sold in Northern Ireland (NI). The Index uses Stamp Duty information on residential property sales recorded by HMRC. The NI House Price Index series is used as the NI component of the single official UK HPI and the statistics are comparable with other UK regions.
Provisional results for the most recent quarter (July - September 2021) show that:
- Between Q2 (April - June) 2021 and Q3 (July – September) 2021 the house price index increased by 3.0%;
- Between Q3 2020 and Q3 2021 the house price index increased by 10.7%;
- The average price for a house in Northern Ireland is £159,109 and ranges from £140,983 in Armagh City, Banbridge and Craigavon to £183,392 in Lisburn and Castlereagh.
- 7,529 residential properties sold during Q3 2021;(This number will be revised upwards in the next publication due to late returns and the entry of new properties into the NI Valuation List)
- The House Price Index is now 43.4% higher than Q1 2015 (the reference period).
