But what type of property would the average price buy you in different parts of the country?
Here, we take a look at houses currently on the market for around £147,500 in each local authority area of Northern Ireland.
1. Antrim and Newtownabbey
Two bed detached bungalow on Mill Road, Ballyclare. Average house price in Antrim and Newtownabbey - £150,673. Photo: Country Estates
2. Ards and North Down
Three bed semi-detached villa on Bangor Road, Newtownards. Average house price in Ards and North Down - £165,939. Photo: Peter Rogers Estate Agents
3. Armagh City, Banbridge and Craigavon
Three bed detached house on Drumcree Road, Portadown. Average house price in Armagh City, Banbridge and Craigavon - £129,151. Photo: Farrell Estate Agents
4. Belfast
Two bedroom apartment in Old Bakers Court, Belfast. Average house price in Belfast - £140,750. Photo: John Minnis Estate Agents