Today, Land & Property Services assisted by the Northern Ireland Statistics & Research Agency released the Residential Property Price Index report for Quarter 4 (October to December) 2015. Here are five things you need to know:
- Between Q3 (July – September) and Q4 (October- December) 2015 the residential property price index increased by 1%
NI RPPI Q4 increased to 106 from 105 in Q3.
- Between Q4 2014 and Q4 2015 the residential property price index increased by 7%
An overall increase from 99 in Q4 2014 to 106 in Q4 2015.
- Over 20,400 residential properties sold during 2015
From 2012-2014, the number of sales increased each year to 21,200 in 2014. In 2015 there were over 20,400 verified residential property sales. This is 3% less than the number recorded in 2014.
- The residential property price index is now 6% higher than Q1 2005
The NI RPPI currently stands at 106 in the fourth quarter of 2015. The index is now 6% higher than in the first quarter of 2005.
- All District Council areas showed an increase over the quarter, except for Mid Ulster, where the index decreased by 1%
Lisburn and Castlereagh reported the smallest increase of 3%, while the index for Fermanagh and Omagh was 13% higher than Q4 2014. For Mid Ulster, the increase demonstrates an annual change of 5% and standardised price of £116,429.
Results for the first quarter of 2016 will be published on 17 May 2016. Click to view the full Northern Ireland Residential Property Price Index report.