Northern Ireland house prices rose 3.3 per cent in the third quarter from the previous three months, a report said today.
Average house prices in Northern Ireland rose to £164,107 in the three months through September from £158,886 in the second quarter, the University of Ulster said in a report.
On an annualised basis, house prices have fallen 19.2 per cent, the report said.
Northern Ireland's economy has been hit by a property slump while the global recession has cut export demand and companies such as Caterpillar and Bombardier have slashed jobs.
Still, in October, the unemployment rate, which has almost doubled in the past year, remained unchanged for the first time in 20 months.
"While the end of the recession may be in sight, the legacy of a difficult economic and financial backdrop will remain," Alan Bridle, head of research at Bank of Ireland, said in today's report.
"The overall climate for housing remains challenging," he added.
Bloomberg
