House prices in NI rise by 6%

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The average house price in Northern Ireland has risen by almost 6% over the past year, new figures show.

The typical UK property value was £220,000 in December 2016, marking a £15,000 increase compared with a year earlier, according to a report produced jointly by the Office for National Statistics (ONS) with other bodies.

In Northern Ireland, the average house price was £125,000, an increase of 5.7% over the previous 12 months.

The main contribution to the increase in UK house price growth came from England, where house prices increased by 7.7% over the year to December, taking the average price in England to £236,000.

Wales saw house prices increase by 4.7% over the year to stand at £148,000. In Scotland, the average price increased by 3.5% over the year to stand at £142,000..

House prices across the UK as a whole increased by 7.2% in the year to December, accelerating from a 6.1% rise recorded in the year to November. Prices increased by 1.4% month-on-month.

An average first-time buyer in Britain faces paying 7% more for a property than they did a year ago, with the typical price paid by this sector now at £184,973, the report said.