Published Tuesday, 10 December 2013
The local housing market is picking up, the report said. (© Pacemaker)
A report from the Royal Institution of Chartered Surveyors said that November was the sixth month in a row of higher prices.
Average prices are now more than 50% below levels witnessed during the housing boom.
Tom McClelland of RICS explained: "It must be remembered that average prices are now more than 50% below peak levels and they are rising from these levels - last seen in 2004 - at modest rates.
"The pattern across Northern Ireland is also varied, with different regions experiencing different trends. In terms of transactions, it is encouraging to note that these continue to rise, as housing market activity is an important economic driver."
A recent University of Ulster report listed the average house price at about £130,000.
Derek Wilson, head of lending products at Ulster Bank, also said recent data from the Council of Mortgage Lenders (CML) showed the number of loans advanced for house purchase here grew to its highest levels since 2009 between July and September this year.
He went on: "Greater interest and activity in the market is a reflection of a greater sense of realism evident in property values, both on the part of sellers and buyers.
"Through the continued development of our mortgage range, our team of mortgage specialists covering Northern Ireland, and our involvement in the co-ownership scheme, Ulster Bank is committed to playing its role in the market."
© UTV News