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04/02/2010
'Slow' Recovery For NI Housing Market
A new survey has suggested the Northern Ireland housing market showed modest signs of recovery in the last quarter of 2009.
The report, by the University of Ulster and the Bank of Ireland, reveals that the average price over a house in Northern Ireland was £161,429 in the last three months of 2009.
The number of transactions was at it’s highest level for two years, according to the survey.
The rate of house price decline had dropped from 35% at the start of 2009 to just below 7%.
Statistics were based on a sample of 1,050 transactions in the fourth quarter of last year.
Economist Alan Bridle, head of economics and research at Bank of Ireland in Northern Ireland, said: "The real mark of recovery in our housing market will be a pick-up in the number of transactions. This survey sounds an encouraging note."
(NS/BMcc)
The report, by the University of Ulster and the Bank of Ireland, reveals that the average price over a house in Northern Ireland was £161,429 in the last three months of 2009.
The number of transactions was at it’s highest level for two years, according to the survey.
The rate of house price decline had dropped from 35% at the start of 2009 to just below 7%.
Statistics were based on a sample of 1,050 transactions in the fourth quarter of last year.
Economist Alan Bridle, head of economics and research at Bank of Ireland in Northern Ireland, said: "The real mark of recovery in our housing market will be a pick-up in the number of transactions. This survey sounds an encouraging note."
(NS/BMcc)
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Northern Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
