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13/03/2012
NI House Prices Down 70%
House prices in Northern Ireland are continuing to plummet at an unprecedented rate according to recent figures.
The Royal Institute of Chartered Surveyors (RICS) have revealed that NI house prices are down as much as 65%- 70% since the 2007 property market boom.
Meanwhile RICS have said that the bottom of the housing market for the country may not be far off if prices continue to fall at this rate.
A total of 53% of those who responded to the February survey reported that prices are the same and 47% reported them falling.
The group did however report that the number of house sales was up reflecting the spring market when sales usually do start to improve.
A spokesperson for RICS said:"I think the key theme for this year is not to expect the unexpected.
"Average prices will continue to come under pressure, though the view is that this will be less so in the greater Belfast and Lisburn areas than elsewhere."
(LB)
The Royal Institute of Chartered Surveyors (RICS) have revealed that NI house prices are down as much as 65%- 70% since the 2007 property market boom.
Meanwhile RICS have said that the bottom of the housing market for the country may not be far off if prices continue to fall at this rate.
A total of 53% of those who responded to the February survey reported that prices are the same and 47% reported them falling.
The group did however report that the number of house sales was up reflecting the spring market when sales usually do start to improve.
A spokesperson for RICS said:"I think the key theme for this year is not to expect the unexpected.
"Average prices will continue to come under pressure, though the view is that this will be less so in the greater Belfast and Lisburn areas than elsewhere."
(LB)
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There has been conflicting evidence on local property prices - which rose 1.6% during the past three months - but was still not enough to offset previous falls. Nationwide said of Northern Ireland "the annual rate of house price falls actually accelerated from 5.2% to 11.1%".
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House prices begin to fall as slowdown bites
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House prices are continuing to fall across Northern Ireland, new figures have revealed. The latest survey from the Royal Institution of Chartered Surveyors (RICS) showed that house sales are increasing but are still some distance from reaching "normal levels".
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House prices are continuing to fall across Northern Ireland, new figures have revealed. The latest survey from the Royal Institution of Chartered Surveyors (RICS) showed that house sales are increasing but are still some distance from reaching "normal levels".
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Northern Ireland house prices increased by 2.6% in the year to April 2014, according to the latest report from the Office for National Statistics. Although prices are rising again, the increase was still behind a 9.9% rise in the UK. House price annual inflation was 10.4% in England, 3.3% in Wales and 4.8% in Scotland.
Rise In NI House Prices
Northern Ireland house prices increased by 2.6% in the year to April 2014, according to the latest report from the Office for National Statistics. Although prices are rising again, the increase was still behind a 9.9% rise in the UK. House price annual inflation was 10.4% in England, 3.3% in Wales and 4.8% in Scotland.
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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.
