The sample size of house was 2040 and house prices ranged from �12,000 to �350,000.

Commenting on the results, Sandra McCormick of Ulster Bank House Mortgages said that the increase in the overall rate of growth to just under 16% for the year was a continuing vote of confidence in the local housing market.

She said: "Some will speculate that the continued increase in house prices may see first time buyers unable to jump onto the property ladder.

"However, although finding themselves having to stretch that little bit further, most people find that buying their own home remains within their grasp.

Property

The authors of the report, Professor Alastair Adair, Professor Stanley McGreal and Mrs Louise Brown emphasised that significant rates of increase have occurred across most sectors of the market with older property in the pre-1919 sector performing particularly well.

Newly constructed property continued to represent an important sector of the market and the rate of increase was slightly above that for the overall market reflecting the high cost of development land.

Tom McClelland, spokesman for the RICS said: "The employment outlook is still healthy and if interest rates remain stable the New Year should probably see further price growth albeit at a lower rate of increase."

On a regional basis the average price levels in Northern Ireland for the third quarter of 2000 are: Lisburn - �98,240; Belfast - �92,002; North Down - �90,349; Mid/South Down - �88,701; Antrim/Ballymena - �82,665; Coleraine/Limavady - �82,905; Enniskillen/Fermanagh/S.Tyrone - �78,163; East Antrim - �73,614; Londonderry/Strabane - �72,829; Mid Ulster - �71,471 and Craigavon/Armagh - �68,447.