Land & Property Services assisted by the Northern Ireland Statistics & Research Agency today released the Residential Property Price Index report for Quarter 2 2014.
The Index measures change in the price of residential property sold in Northern Ireland. The Index uses stamp duty information on residential property sales recorded by Her Majesty’s Revenue & Customs.
Results for the most recent quarter (April – June 2014), which are provisional, show that:
* Â Between Q1 (January- March) 2014 and Q2 (April – June) 2014 residential property prices increased by 4%;
* Â Between Q2 2013 and Q2 2014 residential property prices increased by 10%;
* Â Over 4,800 verified residential properties sold during Q2 2014. This represented a 25% increase on the number sold in the second quarter of 2013;
* Â Residential property prices are now 1% higher than Q1 2005; and
* Â Residential property prices in both urban and rural areas increased by 4% over the quarter.
The Northern Ireland Residential Property Price Index is a quarterly index and will be published in February, May, August and November each year, around eight weeks after the end of each quarter.
Results for the third quarter of 2014 will be published on 19 November 2014. The detailed statistics report is available at: www.dfpni.gov.uk/lps/statistics-and-research-publications.htm
and www.nisra.gov.uk/HousePriceIndex/hpi.html
Further statistics by area and property type (detached, semi-detached, terraced, apartment) are available on the website.
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