Halifax Survey House Prices Over Last 10 Years.

[BelfastVI]

Their average of £164k for the Uk seems to tie in with the Nationwide and their 2000 Q4 figures of £72k for NI seams to be ok but I don't know about their Q4 2010 figure for NI of £140k. From memory I thought Halifax's current figure for NI was mid £120's.

However, leaving that aside it is good to see N.Ireland in the mid table of growth over the last 10 years. As Doccyboy points out NI would probably have led this table a few years ago. It is also worth noting that none of the NI regions or citys appear in the top 20 'Hotspots'of the UK.

It also has further implications. Whilst recent (6 months or so) trends in the UK have been downward, apart, I may say from January's 0.8% rise (but we will not mention that)the market has been split. The north has been falling and London and the south east has been rising, or at the very least propping up the overall average from falling more. Put another way if London and the South East were taken out of the figures the crash over there would have been far more severe. London, in particular is just another world with money coming in from overseas etc.

However, I thought that this couldn't continue. But this Halifax report has pointed out that London has risen the least over the last 10 years 63%, aprox 5% per year. The next lowest is the South East. I wont say that means it can sustain further growth but I would be more concerned if these were the areas that had grown (overheated) the most.

Another interesting thing about the table is the areas with the lowest prices in 2000 (in the majority of cases) grew the most. I imagine they will fall the most too. The same thing seamed to happen in Northern Ireland to. Has anyone got a NI regional breakdown for 2000? There was a large price differential between the areas of NI.

In 2003 Q1 the Av NI price and average for Belfast was £100k: Fermanagh was £83k roughly 20% less

In 2006 Q2 the Av NI price and average for Belfast was £160k: Fermanagh was £180k roughly 12% more

This shows a swing of 32% away from the the pre boom trend (I accept 2003 Q1 is a random snapshot)

In 2010 Q3 the Av NI price was £148k: Fermanagh was £125k roughly 15% less. So this natural price differential is returning with a 27% (very crude) swing.

Edited February 4, 2011 by BelfastVI

[Little Professor]