The value of houses in Northern Ireland is rising by an average of £600 (€873) a week, according to the latest quarterly study of the market.
Detached homes are experiencing the greatest increase in prices during the property boom, the latest University of Ulster quarterly index showed, averaging £237,749 (€345,864) — an increase of almost 30 per cent.
Belfast has also seen the average price of a home rise by 23.6 per cent but Lisburn experienced the most dramatic growth, with values rising at an unprecedented rate of 44 per cent.
Despite the housing boom, the average cost of a house in Northern Ireland is £30,000 (€43,640) lower than its equivalent in the Republic. The average price of a home in the North was £153,868 (€223,804) - a rise of £31,000 on the same quarter last year.
However the authors said the rate of growth across the entire property sector of 25 per cent, could not be sustained.
The index, which is produced in conjunction with the Housing Executive and the Bank of Ireland, covered 2,200 transactions reported by 108 estate agents' firms.
The value of semi-detached houses rose 23 per cent while semi-detached bungalows rose more slowly by 19.7 per cent.
Detached bungalows also failed to match the growth of the rest of the market with a rate of 11.9 per cent.
Apartment prices continued to show a variable performance over time - the average price was £124,814 (€181,559), a rise of 19.2 per cent, which was significantly below the growth rate in the previous survey.
PA