House prices in Northern Ireland rose by more than 10% last year according to a major survey.

The survey found that average property now costs over �75,000, with the biggest rise during the year in the value of apartments and terraced houses.

Carried out by the University of Ulster in conjunction with the Royal Institute of Chartered Surveyors (RICS) and funded by Ulster Bank, the survey is one of the most definitive indicators of property prices in the province.

It said that during last year house prices continued to rise throughout the market but that there is an increasing demand for smaller properties.

The biggest rise was in the prices of apartments, up 20% at an average price of �92,000, while terraced houses rose 15% at an average of �50,000.

At the other end of the scale there were only modest increases in the bungalow market, up by around 3%.

With the average property now costing �75,558 compared to �63,361 last year, the prices of houses in Northern Ireland are now similar to those in other popular areas of the UK.

The researchers said the high demand for small properties reflects changes in society, with more young single people choosing to live away from their families.

RICS spokesman Tom McClelland said: "Households are getting smaller, and younger, economically active people are living on their own are sharing but have not started families."

The authors of the report based on the survey results, Professor Alistair Adair, Professor Stanley McGreal and Louse Brown said indicators showed the housing market would continue to be buoyant.

"Apart from a minor upward movement of interest rates, most other factors - notably incomes levels, employment and low inflation in other sectors of the economy - are favourable in terms of maintaining confidence in our housing market," they reported.

On a regional basis throughout the province the average house price is highest in North Down on the east coast at �82,562.

Average house prices throughout the province are as follows: Antrim and Ballymena �66,507; Belfast �80,468; Coleraine, Limavady and North Coast �76,681; Craigavon and Armagh �57,224; East Antrim �67,630; Enniskillen, Fermanagh and South Tyrone �67,725; Lisburn �78,383; Londonderry and Strabane �62,495, Mid and South Down �78,606; Mid Ulster �66,922.