NI homes up 6% as UK prices picked up in September

Quicker price growth
Quicker price growth

Annual house price growth accelerated in September, according to official figures that reveal Northern Ireland was among the hottest UK region.

Against an average of 5.4% in September, up from 4.8% in August, the average price in the province hit £132,000, a yearly increase of 6%.

The figures, released jointly by the Office for National Statistics (ONS), Land Registry and other bodies, shows that annual growth rate has remained broadly around 5% during 2017.

The average UK house price was £226,000 in September 2017, marking a 0.4% increase on the previous month.

In England, house prices increased by 5.7% over the year to September 2017, with the average price at £244,000.

Within England, the north west showed the highest annual growth, with prices increasing by 7.3% in the year to September 2017 to reach £160,951 on average.

The lowest annual growth was in London, where prices increased by 2.5% over the year to reach £483,568 typically.

Wales saw house prices increase by 5.3% over the previous 12 months to reach £153,000 typically. In Scotland, the average price increased by 3.1% over the year, reaching £145,000.

Looking at UK local authorities, the area showing the largest annual growth in the year to September 2017 was Hinckley and Bosworth, where prices increased by 15.9% to stand at £215,000.

The lowest annual growth was recorded in Halton, where prices fell by 5.2% to stand at £127,000.