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House Prices fall in Causeway Coast & Glens

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Land & Property Services assisted by the Northern Ireland Statistics & Research Agency today released the House Price Index report for Quarter 2 2016.

The Index measures change in the price of residential property sold in Northern Ireland. The Index uses stamp duty information on residential property sales recorded by Her Majesty’s Revenue & Customs.

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.

Results for the most recent quarter (April to June 2016), which are provisional show that:

  • Between Q1 (January – March) 2016 and Q2 (April – June) 2016 the house price index increased by 3.8%;
  • Between Q2 2015 and Q2 2016 the house price index increased by 7.8%;
  • 4,075 residential properties sold during Q2 2016;
  • The house price index is now 11.1% higher than Q1 2015 (the new reference period); and
  • All district council areas showed an increase over the quarter, except for Mid Ulster, Fermanagh and Omagh and Causeway Coast and Glens, where the index decreased.

Local Government District Index and Prices

From 1 April 2015, 11 new councils took over from the previous 26 under a program of reform.

The information below shows the trends in the local district council property markets across Northern Ireland.

The Index value for Q2 2016 for Northern Ireland as a whole is 111.1 and ranges from 107.2 in Ards and North Down to 115.0 in Fermanagh and Omagh. The standardised price for Northern Ireland as a whole is £123,241 and ranges from £102,715 in Derry City and Strabane to £148,600 in Lisburn and Castlereagh.

Detailed statistics on each council are shown below:

Residential Property Price Index and Standardised Price in each council area Q2 2016

Antrim and Newtownabbey

  • Index: 111.6
  • Quarterly Change: 6.2%
  • Annual Change: 7.2%
  • Std Price: £128,355

Ards and North Down

  • Index: 107.2
  • Quarterly Change: 2.9%
  • Annual Change: 5.9%
  • Std Price: £143,937

Armagh City, Banbridge and Craigavon

  • Index: 111.7
  • Quarterly Change: 3.3%
  • Annual Change: 9.2%
    Std Price: £110,118

Belfast

  • Index: 112.5
  • Quarterly Change: 7.2%
  • Annual Change: 9.8%
  • Std Price: £118,894

Causeway Coast and Glens

  • Index: 113.2
  • Quarterly Change: -0.2%
  • Annual Change: 6.8%
  • Std Price: £122,173

Derry City and Strabane

  • Index: 108.5
  • Quarterly Change: 2.3%
  • Annual Change: 8.8%
  • Std Price: £102,715

Fermanagh and Omagh

  • Index: 115.0
  • Quarterly Change: -0.3%
  • Annual Change: 10.0%
  • Std Price: £110,247

Lisburn and Castlereagh

  • Index: 110.7
  • Quarterly Change: 4.3%
  • Annual Change: 7.2%
  • Std Price: £148,600

Mid and East Antrim

  • Index: 111.8
  • Quarterly Change: 4.7%
  • Annual Change: 6.1%
  • Std Price: £115,747

Mid Ulster

  • Index: 107.8
  • Quarterly Change: -1.4%
  • Annual Change: 3.6%
  • Std Price: £120,583

Newry, Mourne and Down

  • Index: 111.2
  • Quarterly Change: 3.6%
  • Annual Change: 7.5%
  • Std Price: £125,137

A graphical representation of the residential property price index for each council can be viewed in the Detailed Statistics at:https://www.finance-ni.gov.uk/articles/northern-ireland-house-price-index

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