There has been another sharp rise in Northern Ireland house prices, according to the latest survey from the University of Ulster.

In the three months to the end of September, prices rose by more than 6% - taking the annual rise to more than 15%.

This time last year, the housing market was relatively quiet.

However, throughout the first nine months of 2002 prices did rise.

NI AVERAGE PRICES

Belfast �103,587 North Down �114,876 Lisburn �115,212 East Antrim �86,085 Londonderry/Strabane �78,008 Antrim/Ballymena �87,490 Coleraine/Limavady/North Coast �83,534 Enniskillen/Fermanagh/South Tyrone �94,083 Mid Ulster �90,955 Mid and South Down �106,430 Craigavon/Armagh �76,847

The average house price at the end of last September was just under �100,000 - more than 15% up on a year previously.

The biggest rise has been in apartments - up in value by more than 20% and making up lost ground on the previous year.

Terraced houses are also up in price by 20% on 2001.

While rising prices make it difficult for people to get onto the housing ladder - experts say that because of low interest rates, the average homeowner actually spends less of their income on their mortgage than a decade ago.

But with wages rising slowly and interest rates unlikely to fall much further if at all, then there must be limited scope for prices to keep rising so fast in the longer term.

The annual increase highlights an extremely vibrant market over the past year Stanley McGreal University of Ulster

The survey found less than 10% of properties are now sold for less than �50,000.

Stanley McGreal, professor of property research at the University of Ulster, said the report confirmed a high level of confidence within the Northern Ireland housing market.

He said the annual increase "highlights an extremely vibrant market over the past year".

Alan Bridle of the Bank of Ireland said there was a picture of "continued buoyancy" in the housing market.

However, he cautioned that it was unlikely the rate of price inflation could be sustained at its recent pace.

It is unlikely that the rate of house price inflation in Northern Ireland can continue at its recent pace Alan Bridle Bank of Ireland

"Statistics suggest that the average home-buyer in Northern Ireland now spends between 15% and 20% of their average income on mortgage payments compared to 25% in the early 1990s," he said.

"Looking ahead, I think it is unlikely that the rate of house price inflation in Northern Ireland can continue at its recent pace with more subdued growth in household incomes rather than a steep rise in interest rates the constraining factor."

Meanwhile, the SDLP and Ulster Unionists will raise their concerns about housing provision with Social Development Minister Des Browne later on Tuesday.

SDLP housing spokesman Eamonn O'Neill said they were concerned that forthcoming new legislation would not do enough to tackle the shortfall in social housing.