NI housing market: ONS says rise of 12% to November

House prices in Northern Ireland rose by almost 12% in the year to November, according to the Office for National Statistics (ONS).

That was above the UK average rise of 10% and the biggest rise since December 2007.

The ONS index suggests the price of a typical house in Northern Ireland is £147,000, comparable to the level in late 2006.

The index is based on data from mortgage completions.

It shows that prices in Northern Ireland have increased, on an annual basis, in 15 of the last 17 months.

The definitive house price index for Northern Ireland is produced by Nisra, the government statistics agency.

Its latest report showed that between the third quarter of 2013 and the third quarter of 2014 residential prices increased by 7%.

The next Nisra report, for the fourth quarter of 2014, will be published in February.

http://www.bbc.co.uk/news/uk-northern-ireland-30793545