NI House Prices Up but what about Brexit?

Posted: 24/11/2018

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The average Northern Ireland residential property rose in value by £3,000, or 2.3%, in the third quarter of 2018, according to official data.

The typical NI property now costs £135,060. The Northern Ireland Statistics and Research Agency (NISRA) said it is the sixth quarterly rise in a row. Prices are however still 40% below the peak of the market in 2007.

However, two council districts recorded price falls in quarter three.

Derry and Strabane had a 0.2% price fall while prices fell 0.4% in Armagh City, Banbridge and Craigavon

In contrast, Newry, Mourne and Down properties saw values grow by 4.8%.

Properties are most expensive in the Lisburn and Castlereagh council area at £161,215 on average.

But with Brexit deal or no deal looming we are seeing some buyers holding back. This may well send prices down in the last quarter of this year.

If you are interested in selling you will be pleased to know that we only charge 0.5% and no extra VAT (subject to minimum sale fee of £500, listing fee from £99).

Call us on 02890456162 or email us: keyone@btinternet.com if you would prefer not to pay 1% + VAT to sell your property. 

 

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