House prices in Northern Ireland continue to tumble, with properties falling more than 10 per cent in value in the last year. The average price is £137,219 (€163,396), the University of Ulster’s quarterly review found.

The 10.7 per cent decline was accompanied by signs of more activity in the market. The survey of 115 estate agents recorded 960 transactions in the last quarter of 2011, compared with 684 over the same three-month period in 2010.

Only one type of residential property – semi-detached bungalows – increased in price, up by 6.7 per cent.

The university’s Quarterly House Price Index was produced in partnership with Bank of Ireland and the Northern Ireland Housing Executive.