House prices in Northern Ireland climbed by more than £200 a day last year, researchers revealed yesterday.
The University of Ulster said the average property cost almost a quarter of a million pounds, with price tags up 51 per cent in 12 months.
However, its report warned the market will cool during the second half of this year.
Bank of Ireland economist Alan Bridle said the findings confounded expectations of price moderation.
"The survey shows that the market seems oblivious to such pressures and influences as the rising cost of borrowing and house prices falling on the other side of the Border," he said.
"There is general agreement that the long-term health of the Northern Ireland market would be best served by an orderly cooling off in price growth.
"This remains our core expectation with a return to a prolonged period of single digit percentage increases on average."
The university's Quarterly House Price Index said semi-detached and terraced houses showed the greatest inflation, 63 per cent for semis and 55 per cent for terraced, with prices highest in south Belfast.
Detached properties, bungalows and apartments also recorded increases.
The average tariff across Northern Ireland was £240,408.
North Down, Coleraine and the north coast all recorded strong rises.
The trend has made it difficult for first-time buyers facing stiff competition from investors.
A string of increases in the cost of borrowing money has made it less profitable for the buy-to-let market.
Northern Ireland has outstripped many other parts of the UK, although average prices are still below London.
Mr Bridle added: "The longer the price boom continues, the greater the risks that the slowdown, when it inevitably comes, could be quite abrupt." - (PA)