Property prices in Northern Ireland
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Recent trends for prices in Northern Ireland
The latest figures from February 2024 indicate the property market in Northern Ireland continues to show falling price trends. Compared to January, 2024, average prices decreased by -0.9% to £177,611. On an annual basis, average property prices have increased 1.4% since 12 months ago.
In terms of sales activity, there were 1773 residential property transactions completed in Northern Ireland during February, 2024. Of these purchases, were financed with a mortgage while were all-cash sales. For cash buyers, average prices have changed by % since January, 2024, coming in at around £0. For properties purchased with a mortgage, the average price changed by % since January, 2024, to £0.
Compared to the overall picture in its national parent United Kingdom, the average property price in Northern Ireland are lower than the current national average of £280,660. While Northern Ireland saw a change of -0.9% over the last month, United Kingdom as a whole recorded a percentage change of 0.4% in average property values. And on an annual basis, prices across United Kingdom have contracted by -0.2%, less than the 1.4% yearly change seen in Northern Ireland.
Interested in purchasing a property in Northern Ireland? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Northern Ireland by housing type
Prices last recorded in February, 2024
average
£177,611
detached
£273,537
flat
£130,839
semi-detached
£172,179
terraced
£122,730
Prices by housing type in Northern Ireland
Recent data shows that price growth has varied across different property types in Northern Ireland over the last year. For terraced houses, property prices changed by -1.6% between February 2024 and January 2024 to reach £122,730, and changed by 0.2% over the last 12 months. The annual change was less than the -1% change seen for terraced homes in United Kingdom overall.
Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £172,179 in January 2024. This represents a -0.2% change from the same month last year.This is outperforming the 0.7% annual change in semi-detached values across the country.
Detached homes in Northern Ireland lost -0.6% month-over-month to reach an average of £273,537. Annually, detached property values have changed by 2%. This is stronger price growth compared to United Kingdom's 0.5% change for detached houses over the year.
For apartments and flats, average prices decreased by -1.7% between February and January 2024, hitting £130,839. Over the last 12 months, apartment values have changed by 1.9%, surpassing United Kingdom's flat and apartment growth rate of -1%.
Overall, detached properties have seen the strongest price momentum locally over the past year, with a change of 2%, while terraced properties lagged, with a change of 0.2%.
Recent purchases in Northern Ireland
According to data from HM Land Registry, there were 1773 completed property purchases in the area of Northern Ireland in February 2024. Of these sales, were recorded as cash purchases whilst were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by % and the percentage of properties purchased with cash has changed by %.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in northern-ireland.
Detached property prices in northern-ireland
Semi-Detached property prices in northern-ireland
Terraced property prices in northern-ireland
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