Fall in residential property prices

editorial image

Mid and East Antrim residential property prices have fallen by 3.1 per cent in the second quarter of this year, according to most recent figures.

The statistics released through the Department of Finance, show the typical house in MEA Borough Council area now costs £123,503.

The House Price Index report for April to June also shows a fall of 0.6 per cent for Antrim and Newtownabbey, where the standardised price is £136,457.

Despite the decrease, average prices in both local government authority areas are still higher than this time last year, 2.5 per cent (MEA) and 2.4 per cent (Antrim and Newtownabbey).

The Index measures change in the price of residential property sold in Northern Ireland. It uses stamp duty information on residential property sales recorded by HMRC.

The Index value for Q2 2018 for the province as a whole is 119.7 and ranges from 112.0 in Ards and North Down to 130.7 in Fermanagh and Omagh.

The standardised price for Northern Ireland as a whole is £132,795 and ranges from £117,869 in Armagh City, Banbridge and Craigavon to £158,690 in Lisburn and Castlereagh.