Northern Ireland average house price soars by 10% year on year: Halifax

Belfast Telegraph

07-07-2025

The year-on-year growth in price is the strongest across 12 regions, and brings the average house price here to £212,189.
Scotland experienced the second-highest rate of growth at 4.9%, to an average of £214,891.
However, Northern Ireland's house prices are the second-lowest of UK regions, with England's North East having the cheapest average house price at £175,679.
Growth UK-wide flattened out month-on-month in June following a small monthly dip in May, according to the index from lender Halifax.
It recorded a 0.0% month-on-month change in typical UK property values in June, following a 0.3% fall in May.
It said the housing market's resilience 'continues to stand out' following stamp duty changes that came into force from April when discounts on the charge, which applies in England and Northern Ireland, became less generous for some home buyers.
Amanda Bryden, head of mortgages at Halifax, said: 'The UK housing market remained steady in June, with the average property price effectively unchanged over the month, following a slight drop of 0.3% in May.
'At £296,665, the average house price is still around 2.5% higher than this time last year.
'The market's resilience continues to stand out and, after a brief slowdown following the spring stamp duty changes, mortgage approvals and property transactions have both picked up, with more buyers returning to the market.
'That's being helped by a few key factors: wages are still rising, which is easing some of the pressure on affordability, and interest rates have stabilised in recent months, giving people more confidence to plan ahead.
'Lenders have also responded to new regulatory guidance by taking a more flexible approach to affordability assessments.'
Ms Bryden said that over the past two months: 'We've already helped an additional 3,000 buyers – including more than 1,000 first-time buyers – access a mortgage they wouldn't have qualified for before.'
She added: 'With markets pricing in two more rate cuts from the Bank of England by year end, and the average rate on newly drawn mortgages now at its lowest since 2023, we continue to expect modest house price growth in the second half of the year.'
Another recent report from Nationwide Building Society indicated that the average house price UK-wide dipped by 0.8% month-on-month in June.
Karen Noye, a mortgage expert at wealth manager Quilter said: 'Today's house price index looks a little more positive than other indices already published which reported a fall in prices.'
She added: 'With the summer holidays fast approaching, we could see a slowdown as trips abroad take precedence over moving home.
'The market is used to a dip in momentum during this time of the year but having already had a fairly slow start to 2025, we could see this lull push house prices down a little more.
'However, while we may not see activity pick up until nearer the autumn – by that time the stamp duty changes will have sunk in – buyers will have no choice but to adjust to the new norm if they wish to move home, and we could see the market pick up some pace as a result.'
Here are average house prices and the annual increase, according to Halifax (regional annual change figures are based on the most recent three months of approved mortgage transaction data):