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08/06/2022
NI House Prices Increase Most In UK
House prices in Northern Ireland have risen the most compared to the rest of the UK.
NI had the strongest annual house price inflation in May, increasing by 15.2%, according to new figures.
The average house price in NI is currently £185,386.
The average house price hit £289,099 in May across the UK, but the market is showing signs of cooling, according to an index.
Russell Galley, Halifax managing director, said: "The average cost of buying a home in the UK is up 1%, or £2,857, on last month, and has now risen for 11 consecutive months.
"Annual growth also remains in double digits, at 10.5%, although this is the slowest rate of growth seen since the start of the year."
NI had the strongest annual house price inflation in May, increasing by 15.2%, according to new figures.
The average house price in NI is currently £185,386.
The average house price hit £289,099 in May across the UK, but the market is showing signs of cooling, according to an index.
Russell Galley, Halifax managing director, said: "The average cost of buying a home in the UK is up 1%, or £2,857, on last month, and has now risen for 11 consecutive months.
"Annual growth also remains in double digits, at 10.5%, although this is the slowest rate of growth seen since the start of the year."
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Northern Ireland house prices increased by 2.6% in the year to April 2014, according to the latest report from the Office for National Statistics. Although prices are rising again, the increase was still behind a 9.9% rise in the UK. House price annual inflation was 10.4% in England, 3.3% in Wales and 4.8% in Scotland.
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