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Northern Ireland house prices increase 12 per cent in year

August 11, 2016Article by Chelsea Battle

THE average cost of a new home in Northern Ireland rose by more than 12 per cent in the year to June according to the latest survey of house prices.

The Ulster University’s Quarterly House Price Index found a strong thee months of sales in the lead up to the EU referendum.

It found average house prices in the second quarter of the year to be £158,528.Other surveys have suggested a fall back in house prices following the Brexit vote. Although the Royal Institution of Chartered Surveyors in their survey also published today said they were already “bouncing back”.

It recorded a high volume of annual and quarterly house sales and also highlighted an increase of 8.8 per cent in the average house price since the first quarter of 2016.

Research by the university suggested the north’s housing market was affordable despite the increase in average house price.

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