Annual descriptive price statistics for each calendar year 2005 – 2024 for 11 Local Government Districts in Northern Ireland.
The statistics include:
• Minimum sale price
• Lower quartile sale price
• Median sale price
• Simple Mean sale price
• Upper Quartile sale price
• Maximum sale price
• Number of verified sales
Prices are available where at least 30 sales were recorded in the area within the calendar year which could be included in the regression model i.e. the following sales are excluded:
• Non Arms-Length sales
• sales of properties where the habitable space are less than 30m2 or greater than 1000m2
• sales less than £20,000.
Annual median or simple mean prices should not be used to calculate the property price change over time.
The quality (where quality refers to the combination of all characteristics of a residential property, both physical and locational) of the properties that are sold may differ from one time period to another. For example, sales in one quarter could be disproportionately skewed towards low-quality properties, therefore producing a biased estimate of average price.
The median and simple mean prices are not ‘standardised’ and so the varying mix of properties sold in each quarter could give a false impression of the actual change in prices. In order to calculate the pure property price change over time it is necessary to compare like with like, and this can only be achieved if the ‘characteristics-mix’ of properties traded is standardised. To calculate pure property change over time please use the standardised prices in the NI House Price Index Detailed Statistics file.
