Finance Minister Simon Hamilton MLA today welcomed firm evidence of growing confidence in the Northern Ireland housing market.

The Northern Ireland Residential Property Price Index (NI RPPI), produced by Land & Property Services (LPS) in conjunction with the Northern Ireland Statistics & Research Agency (NISRA), is published on a quarterly basis.

The statistical information examines every sale in Northern Ireland from HMRC and LPS data. It is therefore a valuable source of information for anyone interested in the local housing market.

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Commenting on the findings Mr Hamilton said: "I welcome the latest quarterly Residential Property Price Index Report, which provides the most reliable and comprehensive picture of our local property market.

"This quarter's report shows confidence is returning to the local housing market with the number of residential property sales at levels not seen for six years. Over 4,800 residential properties sold during the fourth quarter of 2013, demonstrates buyers' growing confidence in the housing market. This represents a 28% increase on the number of properties sold in the same quarter of 2012 and is the highest number of quarterly sales recorded since 2007.

"Increased activity in the market is particularly good news for first time purchasers and those wishing to move up in a more affordable and stable Northern Ireland housing market."

(CD/MH)