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  1. ITV Report

Northern Ireland house prices increase by nearly 6%

The overall average house price is £160,758, an increase of 1.9% over the year.

A healthy performance by the housing market in the third quarter of 2017 saw prices increase by 5.8%.

According to the report released by Ulster University, the overall average house price is £160,758, an increase of 1.9% over the year.

The report also stated that the number of first-time house buyers has increased, however their reliance on the ‘bank of mum and dad’ remains a significant factor in these transactions.

Lead researcher, Professor Stanley McGreal from Ulster University said the survey shows a ‘healthy performance’ in NI’s housing market.

Concerns about uncertainty in the macro-economy, the potential impacts of Brexit and the lack of a functioning local Executive are having a diminishing effect on the private housing sector.

– Professor Stanley McGreal

The study suggests activity was 'sluggish' during in the first six months of 2017 but that the housing market picked up in the second half of the year.

The research, produced in partnership with the Northern Ireland Housing Executive and Progressive Building Society, analysed the performance of NI’s housing market between July and September 2017.