Overview of Ards and North Down’s housing market performance
The property market continues to recover in both prices and the number of homes being sold. House prices have grown for 6 consecutive years with typical homes in Ards & North Down (A&ND) experiencing similar rates of growth in prices compared to the wider N.Ireland economy.
During the period 2013-2016 house prices in A&ND appreciated by 5.5% each year on average, reflecting the return of confidence in the housing market following a long period of price contraction in the aftermath of the credit crisis in 2007-08.
Over the last few years house prices have moderated to a more sustainable 3.6% annual growth and closer aligned to wages which has helped support affordability in the area.
To date, the median house price in A&ND stands at approximately £145,000, the 2nd most expensive council area across all of N.Ireland. Despite recent appreciation, house prices remain 29% below peak levels in 2007 when typical prices were over £203,000.
In total, house prices in A&ND have increased in value by over £30,000 since low points in 2013, equivalent to 26% cumulative growth.
Last modified: 10/08/2021