Average Derry house price up 14.6 per cent

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The average price of a house in the Derry and Strabane area has risen by 14.6 per cent over the past year, new figures have revealed.

The increase from £99,397 to £113,950 between the third quarter of 2016 and the third quarter of 2017 is detailed in Ulster University’s latest Quarterly House Price Index report.

“In the Derry/Strabane market, the average price (£113,950) is significantly higher over the year, by 14.6 per cent,” the report notes.

“Analysis of price levels indicates some variability by property type.

“Detached houses (£207,431), detached bungalows (£162,892) and terrace/townhouses (£86,355) all show significant price growth over the year though the semi-detached house sector (£107,667) has a lower average price,” it adds.

Although the average price of a house here grew by £14,553 year-on-year, prices actually fell back from higher levels in the spring.

“Over the quarter, the picture is a little different, with the overall average price dropping back by 3.9 per cent from the second quarter figure.

“This slightly downward pattern is apparent for terrace/townhouses and semi-detached houses; in contrast, however, detached houses increased in average price,” the authors state.

Across the North in general price change over the year was most pronounced in the Lisburn, East Antrim, North Coast and Derry/Strabane areas.