Northern Ireland's house price winners and losers

House prices in Northern Ireland

The average house price in Northern Ireland currently stands at £175,234.

House prices in Northern Ireland have fallen by 0.5% or £904 in the last quarter

House prices in Northern Ireland have increased by 10.1% or £16,161 over the last year.

Since the start of the COVID-19 Pandemic average house prices in Northern Ireland have increased by 24.5% or £35,512.

House prices in Northern Ireland have yet to return to their peak of £225,000 just before the onset of the Global Financial Crisis, however, until the final quarter of 2022 they have been on a broadly upward trajectory since reaching a low of £97,430 in the first quarter of 2013. Since their lows in Q1 2013 average house prices in Northern Ireland have increased by 80% or £77,806.

Current regional house prices in Northern Ireland

The housing market in Northern Ireland is made up of many, many local markets. These local housing markets vary in size, some encompass a whole town, some a village and some just part of or one side of a particular street.

We look at the broader regional housing market across Northern Ireland as represented by the 11 local Government Districts.

In the chart below we show the current spread of average house prices across Northern Ireland's districts, house prices range from £156,000 in Derry City and Strabane to £207,000 in Lisburn and Castlereagh.

We show in the Table below the house price moves across Northern Ireland for the most recent quarter and year in both relative (percentage %) and absolute (monetary) terms.

Northern Ireland's relative house price performance last quarter

In relative terms, house prices increased across all the regions and local Government Districts across Northern Ireland during the last quarter

The top three Northern Ireland house price districts were:

Fermanagh and Omagh, where house prices increased by 1.5%

Ards and North Down, where house prices increased by 1.3% and

Mid and East Antrim which saw average house prices increase by 1.0%

Bottom three house price districts in Northern Ireland

Newry, Mourne and Down,  where house prices fell by 2.7%

Belfast where house prices fell by 1.9% and

Derry City and Strabane where average property prices fell by 1.5%

We show the relative house price increases for all the local Government districts in Northern Ireland in the table below:

Northern Ireland's absolute house price performance last quarter

Turning to the absolute increases in house prices across Northern Ireland in the last quarter the three areas which saw the biggest monetary increase in house prices were:

Ards and North Down, where average house prices increased by £2,628

Fermanagh and Omagh where the average house price rose by £2,472 and

Lisburn and Castlereagh where house prices increased by £2,105

House prices in Northern Ireland rose the least in

Newry, Mourne and Down where house prices fell by £5,073

Belfast where house prices rose by £3,159 and

Derry City and Strabane where average house prices fell by £2,260

Northern Ireland's relative house price performance last year

Turning our attention to house price increases across Northern Ireland over the last year, we see that house prices increased in all 11 Government Districts. House prices rose the most in:

Lisburn and Castlereagh where annual house price inflation is 12.6% 

Ards and  North Down where annual house price inflation is running at 12.1%, and

Armagh City, Banbridge and Craigavon where annual house price inflation is 11.4%

At the lower end of the Northern Ireland house price inflation table were

Derry City and Strabane, which saw house annual price gains over the last year of 6.5%

Belfast with annual average house price inflation of 8.5% and

Newry Mourne and Down, where annual house price inflation is currently running at 9.1%

Northern Ireland's absolute house price performance in the last year

The table below shows how much in absolute monetary terms house prices have increased by in each of Northern Ireland's local Government Districts over the last year (the previous 12 months).

House prices in Northern Ireland have increased by the most in:

Lisburn and Castlereagh where house prices increased by £23,235 over the last 12 months

Ards and North Down where house prices increased by £21,631 during the last 12 months, and 

Causeway Coast and Glens where average house prices have risen by £18,733 over the last 12 months

House prices in Northern Ireland increased by the least over the last year in:

Derry City and Strabane where average house prices increased by £9,352 over the last 12 months

Belfast where average house prices increased by £12,648 during the last twelve months, and

Mid and East Antrim where house prices rose by £13,714 over the last 12 months

We show in the chart below the absolute house price increases for each Government District across Northern Ireland