Derry house prices: Here’s how much they have risen over the past year

The house price index in Derry and Strabane rose by six per cent over the past year with the standardised price of a house in the city and district now up to £134,046.

Despite the rise this was the second lowest value in the north after Armagh City, Banbridge and Craigavon where the standardised price was £128,320. Data from Land & Property Services and the NI Statistics & Research Agency was used to compile the House Price Index report for Quarter 1 2021. It shows the House Price Index in Derry and Strabane is now stood at 141.6

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

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In Derry and Strabane there was a 6.2% percentage change over the past 12 months and a 3.4% per centage change on the previous quarter.

These were both higher rises than the averages for the north - 6.0% year-on-year and 1.1% over the quarter, respectively.

The average price for a house in the north is £149,178. The council area with the highest standardised price is Lisburn and Castlereagh with £175,813.

The House Price Index is now 34.5% higher than Q1 2015.

LPS reports that the Covid-19 pandemic ‘essentially paused the housing market between March 23 and June 15, 2020.

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It states: “The number of sales for Q2 2020 was reduced by approximately two thirds of the usual volume, however they were still representative of the property market as they were not skewed towards one property type, location or socio-demographic characteristic.”