Causeway Chronicle

Residential property prices decrease slightly

Land and Property Services assisted by the Northern Ireland Statistics and Research Agency today released the House Price Index report for Quarter 4 2023.

The Index measures change in the price of residential property sold in Northern Ireland (NI). The Index uses Stamp Duty information on residential property sales recorded by HMRC. 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.

The NI House Price Index was awarded National Statistics status on 18 September 2018. National Statistics are accredited official statistics, which have been judged to comply with the Code of Practice by the Office for Statistics Regulation, as the regulatory arm of the UK Statistics Authority. Accredited official statistics are called National Statistics in the Statistics and Registration Service Act 2007.
Results for the most recent quarter (October – December 2023), which are provisional, show that:
Between Q3 (July – September) 2023 and Q4 (October – December) 2023 the house price index decreased by 0.9%;
Between Q4 2022 and Q4 2023 the house price index increased by 1.4%;
The average price for a house in Northern Ireland is £177,611 and ranges from £158,193 in Fermanagh and Omagh to £204,885 in Lisburn and Castlereagh.
5,320 residential properties sold during Q4 2023;
(This number will be revised upwards in the next publication due to late returns and the entry of new properties into the NI Valuation List)

The House Price Index is now 60.1% higher than Q1 2015 (the reference period).
Local Government District Index and Prices
The report includes trends in the property markets in each council area across NI.

The Index value for Q4 2023 for NI as a whole is 160.1 and ranges from 150.3 in Ards and North Down to 183.3 in Causeway Coast and Glens.

House Price Index and Standardised Price in each council area Q4 2023:

Antrim and Newtownabbey
Index: 159.0
Quarterly Change: -1.3%
Annual Change: 1.7%
Standardised Price: £182,818

Ards and North Down
Index: 150.3
Quarterly Change: 1.6%
Annual Change: -0.2%
Standardised Price: £201,755

Armagh City, Banbridge and Craigavon
Index: 160.5
Quarterly Change: -2.5%
Annual Change: 1.4%
Standardised Price: £158,193

Belfast
Index: 153.3
Quarterly Change: -2.4%
Annual Change: 0.6%
Standardised Price: £161,974

Causeway Coast and Glens
Index: 183.3
Quarterly Change: 1.0%
Annual Change: 1.6%
Standardised Price: £197,886

Derry City and Strabane
Index: 168.4
Quarterly Change: -2.4%
Annual Change: 4.7%
Standardised Price: £159,405

Fermanagh and Omagh
Index: 169.7
Quarterly Change: 1.4%
Annual Change: 0.9%
Standardised Price: £162,642

Lisburn and Castlereagh
Index: 152.6
Quarterly Change: -1.7%
Annual Change: -1.2%
Standardised Price: £204,885

Mid and East Antrim
Index: 160.5
Quarterly Change: 0.9%
Annual Change: 3.3%
Standardised Price: £166,224

Mid Ulster
Index: 154.9
Quarterly Change: -0.4%
Annual Change: 3.5%
Standardised Price: £173,276

Newry, Mourne and Down
Index: 170.3
Quarterly Change: -0.8%
Annual Change: 3.5%
Standardised Price: £191,627

Causeway Chronicle

Causeway Chronicle