Average Derry house price is now £111,794

Across the North, the housing market is showing signs of improvement.

Across the North, the housing market is showing signs of improvement.

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The average house price in the Derry/Strabane region is now £111,794, new research reveals.

The overall average price level remains low - suggesting there has been little change in market sentiment - while the overall average sale price is down 4.1% over the quarter.

Research also reveals that, in the Derry-Strabane region, the average price of semi-detached houses is (£96,158) and for semi-detached bungalows (£99,571).

Across the North, the housing market is said to be showing some signs of improvement, albeit constrained, with the number of sales up and the rate of price decline slowing.

The latest University of Ulster Quarterly House Price Index, produced in partnership with Bank of Ireland and the Northern Ireland Housing Executive, shows the number of transactions in the third quarter of this year – July, August and September – was 1,133 compared to 1,062 in the previous quarter.

The overall average price of a house in Northern Ireland is £139,691 which means the weighted rate of annual decline slowed to 7.5% from 15.3% recorded in the second quarter of this year. According to the authors of the report, Professor Alastair Adair, Professor Stanley McGreal and Dr David McIlhatton, the housing market is continuing to demonstrate volatility.”