Average house price in the North Coast area revealed as £161,061

The average house price in the Coleraine, Limavady and North Coast area is £161,061 according to new Ulster University research.

Ulster University’s Quarterly House Price Index Report is produced in partnership with the Northern Ireland Housing Executive and Progressive Building Society. It analyses performance of Northern Ireland’s residential housing market between October and December 2016.

According to the University research, the North Coast market continues to maintain a strong performance with the overall average house price increasing by 8.9 percent over the year to £161,061. The report also outlines that most sectors of the market experienced higher average prices with semi-detached houses increasing by 7.3 percent to £127,455 and detached houses increasing by 4.1 percent to £236,684. It also highlights that the terraced/townhouses sector has recovered from the third quarter with an average price of £107,796.

For Northern Ireland as a whole the new Ulster University research indicates a decrease in the average house price of 1.3 per cent over the year and 2.6 per cent over the quarter to £150,778. It also indicates an easing back in the volume of sales in contrast to the relatively buoyant conditions that prevailed in early 2016.

Ulster University’s research suggests that despite the decrease in overall average price and volume of house sales in Northern Ireland, both are still operating at a healthy level. It indicates that the negative rates of change may reflect seasonal impacts on the market, but could also suggest a more hesitant market potentially influenced by economic uncertainly.