Land & Property Services assisted by the Northern Ireland Statistics & Research Agency today released the House Price Index report for Quarter 2, 2024.
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 Accredited Official Statistics status on 18 September 2018. Accredited official statistics 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 (April – June 2024), which are provisional, show that:
- Between Q1 (January – March) 2024 and Q2 (April – June) 2024 the house price index increased by 3.6%
- Between Q2 2023 and Q2 2024 the house price index increased by 6.4%
- The average price for a house in Northern Ireland is £185,025 and ranges from £163,836 in Derry City and Strabane to £215,464 in Lisburn and Castlereagh
- 5,064 residential properties sold during Q2 2024
(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 66.8% 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 Q2 2024 for NI is 166.8 and ranges from 157.7 in Ards and North Down to 192.5 in Causeway Coast and Glens.
House Price Index and Standardised Price in each council area Q2 2024:
Antrim and Newtownabbey
Index: 165.8
Quarterly Change: 2.9%
Annual Change: 6.9%
Standardised Price: £190,567
Ards and North Down
Index: 157.7
Quarterly Change: 1.4%
Annual Change: 5.4%
Standardised Price: £211,630
Armagh City, Banbridge and Craigavon
Index: 167.9
Quarterly Change: 2.4%
Annual Change: 7.6%
Standardised Price: £165,470
Belfast
Index: 159.0
Quarterly Change: 2.2%
Annual Change: 6.3%
Standardised Price: £168,054
Causeway Coast and Glens
Index: 192.5
Quarterly Change: 11.2%
Annual Change: 6.6%
Standardised Price: £207,798
Derry City and Strabane
Index: 173.1
Quarterly Change: 4.4%
Annual Change: 3.1%
Standardised Price: £163,836
Fermanagh and Omagh
Index: 176.8
Quarterly Change: 3.7%
Annual Change: 6.3%
Standardised Price: £169,489
Lisburn and Castlereagh
Index: 160.5
Quarterly Change: 2.3%
Annual Change: 6.0%
Standardised Price: £215,464
Mid and East Antrim
Index: 163.6
Quarterly Change: 3.9%
Annual Change: 6.4%
Standardised Price: £169,441
Mid Ulster
Index: 158.8
Quarterly Change: 1.4%
Annual Change: 5.6%
Standardised Price: £177,585
Newry, Mourne and Down
Index: 180.0
Quarterly Change: 8.0%
Annual Change: 8.9%
Standardised Price: £202,524
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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