The overall average house price in Northern Ireland has risen slightly in the last quarter, according to a new report.

According to the Ulster University's latest Quarterly House Price Index report prices are less than 0.5% over the quarter.

The University research indicates that the volume of house sales for the first quarter of 2017 is lower than the final quarter of 2016.

Lead researcher, Professor Stanley McGreal from Ulster University said: "This research is designed to provide a useful analysis tool for those wanting to buy or sell residential property in Northern Ireland. The main finding of this report is that the overall housing market is experiencing some positive growth over the year, but over the quarter growth appears to be more static.

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"As part of our research, we gather insights from estate agents across the region. We found there was a general feeling of uncertainty from agents concerning the performance of the market during the first quarter.

"Along with agents concerns around political instability and Brexit, they indicate an issue of supply in terms of good quality affordable homes. Agents are pointing to a demand, especially from first time buyers, that is potentially being curtailed by the lack of new build starter homes. In the opinion of many, there needs to be more new build activity to help boost sales.

"Our research shows that in terms of annual performance, all property types have increased in average price, however over the quarter it indicates that performance was more variable. At a regional level a number of areas saw an increase over the quarter, including North Down, East Antrim, Londonderry and Strabane, Antrim and Ballymena, Mid and South Down, and Craigavon and Armagh."

(CD)