Average price of a house in Ballymena now £122,633

According to the the latest University of Ulster Quarterly House Price Index for the second quarter of 2013, performance is varied for individual sectors of the market.

Terraced/townhouses have enjoyed the strongest performance this quarter at £82,731, while detached bungalows also saw an significant uplift in average price to £167,217.

In contrast, semi-detached houses have a slightly lower average sale price at £95,284, while detached houses (£160,255) have a lower price level over the year but are up relative to their weaker performance in the first quarter of 2013.

The latest University of Ulster Quarterly House Price Index for the second quarter of 2013, produced in partnership with Bank of Ireland and the Northern Ireland Housing Executive, has found that the volume of sales has been sustained at a reasonable level for the second consecutive quarter which suggests a tentative improvement in the Northern Ireland housing market.

The overall average price of a house in the second quarter - April, May and June – was £130,864, virtually unchanged from the previous quarter (£131,128). However, when taking into account the mix of housing types covered in the survey, the report recorded a weighted decline of 7.6% over the year.

The survey covered 1,409 open market transactions from a network of estate agents, a sample size which is highly comparable to that of the first quarter, suggesting a certain momentum in the housing market.

The report authors said: “Although the overall average price is virtually unchanged over the quarter, the stabilisation of price levels has - according to estate agents - led to an increase in first-time buyer activity.”