Average house price in North falls below £150k

HOUSE prices in the North continue to tumble, with the average value of a house dropping below £150,000 (€175,616) for the first time in five years.

The latest snapshot of the region’s property market recorded a 7.6% drop in prices from the same time last year.

The average overall cost of a home is now £148,243 (€174,809), according to the University of Ulster quarterly house price index. The survey, compiled in conjunction with the Bank of Ireland and the Northern Ireland Housing Executive, found the signs of a slight market recovery earlier this year had been put on hold, or even reversed.