Northern Ireland Property Prices Rise by 7.9%

According to the latest House Price index from Nationwide, property prices in Northern Ireland increased at a quicker rate than elsewhere in the UK within the first three months.

Compared to the same time last year, prices within Northern Ireland have increased by 7.9%. The average property price is now £137,965.

Wales also witnessed a rise in prices also. These prices rose 6.1% to £151,971 from the same quarter last year.

This increase makes Wales the second-best performing country in the U.K.

Northern Ireland tops the UK-wide property prices

In Scotland, prices rose 0.2% to an average of £144,250.

England has seen an increase of 1.9%, the average property price rising to £257,417.

Within England, a North-South divide has been apparent throughout four consecutive months. However, according to the report, this divide is narrowing.

“Over the past two years the Southern English regions have seen a steady deceleration in price growth, which is now running at its slowest pace since 2012,” said Nationwide’s chief economist Robert Gardner. “By contrast, the Northern English regions have recorded a gradual acceleration and recorded their strongest growth rate since 2014 in the first three months of this year.”

In the North of England, the average property cost is £163,138. The average property costs in the south of England is £331,047.

In London, the average price of a house is currently £473,776.

Via: https://content.propertynews.com/5265-2/

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