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18/02/2015
New 'Confidence' In Housing Market
Nearly 5,300 residential properties were sold during the final three months of 2014, bringing the total sales for the year to over 20,200, according to the latest Northern Ireland Residential Property Price Index.
This represented a 22% increase on the number sold in 2013, and is the highest annual number of sales since 2007.
The new figures show that both house prices and sales are on the rise in Northern Ireland.
Between Q3 and Q4 last year, property prices increased by 1%, while between Q4 2013 and Q4 2014, residential property prices rose 8%.
Residential property prices in both urban and rural areas increased by 1% over
the quarter.
Finance Minister Simon Hamilton said: "Today’s report shows that the relationship between sale prices and annual gross earnings continues to be well balanced. This confirms that Northern Ireland, with some increases in prices and greater market activity, is demonstrating an affordable and confident market.
"I am encouraged by the number of residential property sales in the last quarter of 2014, which is the highest number recorded in any quarter since 2007. The continued recovery of activity and indeed confidence in the market is also evidenced by almost double the number of transactions in 2014 compared to 2010."
(IT/MH)
This represented a 22% increase on the number sold in 2013, and is the highest annual number of sales since 2007.
The new figures show that both house prices and sales are on the rise in Northern Ireland.
Between Q3 and Q4 last year, property prices increased by 1%, while between Q4 2013 and Q4 2014, residential property prices rose 8%.
Residential property prices in both urban and rural areas increased by 1% over
the quarter.
Finance Minister Simon Hamilton said: "Today’s report shows that the relationship between sale prices and annual gross earnings continues to be well balanced. This confirms that Northern Ireland, with some increases in prices and greater market activity, is demonstrating an affordable and confident market.
"I am encouraged by the number of residential property sales in the last quarter of 2014, which is the highest number recorded in any quarter since 2007. The continued recovery of activity and indeed confidence in the market is also evidenced by almost double the number of transactions in 2014 compared to 2010."
(IT/MH)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
