Average house price in Mid Ulster is £146,468

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The average house price in Mid Ulster is £146,468, according to the latest Quarterly House Price Index report from the Ulster University.

The report highlights sustainable and resilient annual price growth with the level of transactions remaining healthy.

Quarterly growth is more subdued than earlier in 2018, continuing the more passive market conditions observed in the last quarter.

Locally, the average price (£146,468) has increased over the year but at 1.6% the annual rate of increase at is lower than in recent reports suggesting a continued consolidation of price levels.

The more moderate quarterly increase of 1.1% also supports this trend. In contrast to the last report detached houses (£204,304) performed less strongly and show a quarterly drop of 2.2%. Detached bungalows (£154,729), semi-detached bungalows (£107,363), and terraced/townhouses (£84,337) also display price reductions. Semi-detached properties (£127,814) performed more strongly over the quarter and indicate a quarterly increase of 3.9%.

The research is produced in partnership with Progressive Building Society and the Northern Ireland Housing Executive.

Analysing the performance of the Northern Ireland housing market between October- December 2018, the report reveals an overall average house price of £163,165, up 4.9% over the year. The volume of transactions in the survey is 1,954.

Estate agents’ market observations this quarter have been dominated by the impending Brexit deadline. There is a strong feeling that many vendors, purchasers and investors are collectively holding off from any significant decisions relating to property transactions until the outcome of the ongoing Brexit negotiations has been decided.

The distribution of sale prices this quarter broadly reflects the previous quarter, with the share of lower priced properties at or below £100,000 at 22%.