NI: NI house prices increase by 4.6 per cent over year
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House prices in Northern Ireland increased by 4.6 per cent over the year to November 2015 to reach an average of £158,000.
The latest House Price Index (HPI) from the Office for National Statistics (ONS) showed increases across the UK, with a dramatic 8.3 per cent rise in England.
The 7.7 per cent increase across the UK as a whole was the fastest annual increase recorded by the ONS since March 2015.
Average house prices also increased by 1.3 per cent in Wales to reach £173,000 and 0.4 per cent in Scotland to reach £195,000.
Property values in Northern Ireland, Scotland and Wales remain below their pre-recession records.
House prices in Northern Ireland peaked in 2007.
However, Howard Archer, chief UK and European economist for IHS Global Insight, said the ONS figures “reinforce our belief that house prices will see solid increases over the coming months”.
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