Newry, Mourne and Down house prices held steady in March
House prices remained steady in Newry, Mourne and Down in March, new figures show.
The lack of movement maintains the longer-term trend, which has seen property prices in the area achieve 13.5% annual growth.
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Hide AdThe average Newry, Mourne and Down house price in March was £176,796, Land Registry figures show – largely unchanged from February.
Over the month, the picture was similar to that across Northern Ireland, where prices remained static, and Newry, Mourne and Down underperformed compared to the 0.3% rise for the UK as a whole.
Over the last year, the average sale price of property in Newry, Mourne and Down rose by £21,000 – putting the area third among Northern Ireland’s 11 local authorities with price data for annual growth.
The best annual growth in the region was in Causeway Coast and Glens, where property prices increased on average by 14.8%, to £183,000. At the other end of the scale, properties in Belfast gained just 6.8% in value, giving an average price of £153,000.
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Hide AdHow do property prices in Newry, Mourne and Down compare?
Buyers paid 7.4% more than the average price in Northern Ireland (£165,000) in March for a property in Newry, Mourne and Down. Across Northern Ireland, property prices are higher than those across the UK, where the average cost £278,000.
The most expensive properties in Northern Ireland were in Lisburn and Castlereagh – £190,000 on average, and 7% more than in Newry, Mourne and Down. Lisburn and Castlereagh properties cost 1.3 times as much as homes in Derry City and Strabane (£146,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in March
Newry, Mourne and Down: £176,796Northern Ireland:£164,590UK: £278,436
Annual growth to March
Newry, Mourne and Down: +13.5%Northern Ireland: +10.4%UK: +9.8%
Best and worst annual growth in Northern Ireland
Causeway Coast and Glens: +14.8%Belfast: +6.8%