Average Derry terrace now just £60,000

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The average price of a terrace house in Derry now stands at just over £60,000.

New statistics released by Land and Property Services show that in Derry the average price of a detached house is now £145,000, a semi £105,000, an apartment £51,200 and £60,300 for a terraced house.

The figures are contained in the official Residential Property Price Index for the second quarter of this year.

The index is compiled using stamp duty information on residential property sales recorded by Revenue and Customs.

Across the North the standardised average cost of a home is now £95,623, compared with £204,659 prior to the autumn of 2007.

Royal Institution of Chartered Surveyors Northern Ireland housing spokesman Tom McClelland said: “After a large price correction since mid-2007, we are now seeing examples of properties selling at prices last seen in the early 2000s.”