House prices in Northern Ireland could take another 12 years to recover to the values posted before the credit crunch, economists have claimed.

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 average house price has risen slightly in the North in a sign that the property market's steep decline may be levelling out, it emerged today.