Derry house prices up 11.9% year-on-year to £150,246; still lowest

The average price of a house in Derry and Strabane increased by 11.9 per cent year-on-year to £150,246 which remains the lowest in the north.

Land & Property Services, assisted by the Northern Ireland Statistics & Research Agency, today released its House Price Index report for Quarter 2, 2022.

The Index measures change in the price of residential property sold in the north. The Index uses Stamp Duty information on residential property sales recorded by HMRC.

Results for the most recent quarter (April - June 2022), which are provisional, show that between Q1 (January – March) 2022 and Q2 (April – June) 2022 the house price index increased by 2.9 per cent in Derry/Strabane.

11.9 per cent year-on-year increase in house prices.

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Between Q2 2021 and Q2 2022 the house price index in Derry/Strabane increased by 11.9 per cent.

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The average price for a house in the north is now £169,063 and ranges from £150,246 in Derry/Strabane to £196,438 in Ards and North Down.

Across the north as a whole the house price index increased by 3.2 per cent between quarters one and two and by 9.6 per cent year-on-year.

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The report shows that 5,798 residential properties were sold during Q2 2022 although this number will be revised upwards in the next publication due to late returns and the entry of new properties into the NI Valuation List.

The House Price Index is now 52.4 per cent higher than Q1 2015.

Local Government District Index and Prices.

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Antrim and Newtownabbey

Index: 151.2

Quarterly Change: 4.7%

Annual Change: 9.7%

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Standardised Price: £173,779

Ards and North Down

Index: 146.4

Quarterly Change: 5.2%

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Annual Change: 12.1%

Standardised Price: £196,438

Armagh City, Banbridge and Craigavon

Index: 152.6

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Quarterly Change: 3.3%

Annual Change: 11.1%

Standardised Price: £150,460

Belfast

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Index: 147.8

Quarterly Change: 2.3%

Annual Change: 6.6%

Standardised Price: £156,161

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Causeway Coast and Glens

Index: 175.3

Quarterly Change: 4.2%

Annual Change: 10.4%

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Standardised Price: £189,245

Derry City and Strabane

Index: 158.7

Quarterly Change: 2.9%

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Annual Change: 11.9%

Standardised Price: £150,246

Fermanagh and Omagh

Index: 158.8

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Quarterly Change: 0.6%

Annual Change: 8.7%

Standardised Price: £152,202

Lisburn and Castlereagh

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Index: 145.2

Quarterly Change: 3.4%

Annual Change: 7.7%

Standardised Price: £195,003

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Mid and East Antrim

Index: 148.1

Quarterly Change: 1.2%

Annual Change: 6.8%

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Standardised Price: £153,344

Mid Ulster

Index: 144.9

Quarterly Change: 2.1%

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Annual Change: 12.1%

Standardised Price: £162,045

Newry, Mourne and Down

Index: 161.5

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Quarterly Change: 3.5%

Annual Change: 11.4%

Standardised Price: £181,667