Survey: Northern Ireland house prices up 14.6 percent in first quarter

Survey: Northern Ireland house prices up 14.6 percent in first quarter

According to a new survey by Nationwide, average house prices in the UK rose by a seasonally adjusted 2.2 percent in the first quarter of 2007 to A?175,554. This brings the annual percentage increase in house prices to 9.5 percent. In the previous quarter, the average price of a home was at A?172,065, the building society says.

The biggest quarterly change came in Northern Ireland, where prices were up 14.6 percent in the quarter to A?203,815, a leap of 57.6 percent over the year. In Belfast, the average house costs A?262,965, an annual increase of 61 percent. This brings house prices in that city to within shouting distance of the average price of a house in London, which rose by 4.4 percent in the quarter and 14.3 percent over the year to A?280,995.

Scotland saw a quarterly increase of 2.7 percent in prices, with the average price of a house there up to A?140,929, an annual increase of 15.2 percent. Wales was the region with the smallest quarterly change, with prices up by only 0.8 percent in the quarter to an average of A?150,017 for an annual increase of 6.1 percent.

In England as a whole, house prices were up by 2.3 percent in the quarter, for an annual increase of 8.7 percent to A?193,759. London was, as usual, the most expensive area in England to buy a home, while the least expensive region was the North, where house prices actually fell back by 0.4 percent in the quarter to an average of A?129,378. Even with the decline, though, house prices were up by 4.8 percent over a year. The biggest drop in house prices, though, came in Nottingham, in the East Midlands. Average house prices there were down by 2 percent over the quarter and over the year to A?144,954.


Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Comments are closed.