The quarterly survey, produced in partnership with Bank of Ireland and supported by the Northern Ireland Housing Executive, indicated house prices were growing at a rate of about 7.6% per year.

The university gathered information on house sales across all property types from more than 80 property agents.

Almost 2,100 properties sold across Northern Ireland in the first three months of this year were included in the report, released on Monday.

It indicated the average price of residential property stood at �100,755.

NI AVERAGE PRICES Northern Ireland: �100,755 Belfast: �99,331 North Down: �112,096 Lisburn: �125,378 East Antrim: �89,458 Londonderry/Strabane: �86,916 Antrim/Ballymena: �88,949 Coleraine/Limavady/North Coast: �103,029 Enniskillen/Fermanagh/South Tyrone: �93,890 Mid Ulster: �96,250 Mid and South Down: �113,67 Craigavon/Armagh: �89,094

House prices had dipped in the last three months of 2002, after the previous highest average of �99,787 in the previous quarter.

House price inflation has slowed since the middle of last year, according to the survey.

The university said the 7.57% annual rate of increase in the survey was comparable to the growth rate in the previous quarter.

The report's authors, Professor Alastair Adair, Professor Stanley McGreal and Louise Brown, said the breaking of the �100,000 barrier was a "significant milestone for the Northern Ireland market".

They said house prices were the "inevitable consequence" of a pattern of price growth that was "virtually unbroken" since the mid-1990s.

"It is apparent that the upward spiral of price increase is still occurring but with signs of more sustainable price levels and rates of growth over the coming year," they said.

Housing Executive chief executive Paddy McIntyre welcomed the "more sustainable annual increase" in house prices.

HOUSING TYPES Terraced houses: �70,088 Semi-detached houses: �90,130 Detached houses: �147,927 Semi-detached bungalows: �87,566 Detached bungalows: �126,716 Apartments: �97,855

"In particular the more measured increase of 4% in Belfast is welcomed, given that affordability problems for first-time buyers are most prevalent here," he said.

According to the survey, south Belfast was the most expensive area, with an average price of �132,493.

Across the city, however, north Belfast was the most affordable area, averaging �77,292.

Diverging

The report's authors said that an increase of only 4.18% in Belfast prices to �99,331 added to the evidence of a slow down in the market.

Diverging trends were identified across different property types.

Over the year, the highest growth in prices was again in semi-detached bungalows, up by almost 18% to �87,566 but with a market share of just 5%.

Terraced houses recorded a 4.9% increase to �70,088; semi-detached houses rose 9.32% to �90,130; detached houses were up 4.03% to �147,927; detached bungalows rose 11.37% to �126,716; and apartments increased 8.46% to �97,855.