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12/10/2011
NI House Prices Continue To Fall
According to a recent survey the Northern Ireland housing market has seen a slight improvement in September but it also suggested that house prices are continuing to fall.
Data collected by the Royal Institute of Chartered Surveyors (RICS) revealed that average house prices continued to fall after what is being described as a "difficult August" for the market.
Meanwhile it is predicted that house prices will continue to fall in the following months.
Tom McClelland of RICS said houses were selling, but at prices not "seen for seven or eight years".
"Global economic news has taken another turn for the worse of late, which will likely have implications for the local economy in the months ahead," he said.
"Sellers who understand and accept where the market is are being successful and are finding buyers.
"The emphasis is on setting the right price."
A separate survey carried out by the Ulster Bank has revealed a steady increase in mortgage business in recent weeks from those seeking to re-mortgage, buy for the first time or trade up.
(LB/CD)
Data collected by the Royal Institute of Chartered Surveyors (RICS) revealed that average house prices continued to fall after what is being described as a "difficult August" for the market.
Meanwhile it is predicted that house prices will continue to fall in the following months.
Tom McClelland of RICS said houses were selling, but at prices not "seen for seven or eight years".
"Global economic news has taken another turn for the worse of late, which will likely have implications for the local economy in the months ahead," he said.
"Sellers who understand and accept where the market is are being successful and are finding buyers.
"The emphasis is on setting the right price."
A separate survey carried out by the Ulster Bank has revealed a steady increase in mortgage business in recent weeks from those seeking to re-mortgage, buy for the first time or trade up.
(LB/CD)
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According to an expert who predicted the 'crash' of two years ago, NI property prices have further to fall. Jonathan Davis, a financial planner based in the City of London, told the Belfast News Letter last night that property here remained severely over-valued in relation to incomes, and that buyers should be "wary of talk of green shoots".
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According to an expert who predicted the 'crash' of two years ago, NI property prices have further to fall. Jonathan Davis, a financial planner based in the City of London, told the Belfast News Letter last night that property here remained severely over-valued in relation to incomes, and that buyers should be "wary of talk of green shoots".
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NI House Prices Continue To Plummet
The average house prices in Northern Ireland are continuing to fall. According to the University of Ulster’s Quarterly House price Index the average cost of a house is down 11% on this time last year. The average house in Northern Ireland now rests at £137,000.
NI House Prices Continue To Plummet
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
