Average house price now £118,293

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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 momentum in the market.