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04/01/2007
NI house prices continue to rise
House prices in Northern Ireland have risen faster than those in the rest of the UK according to a new report issued by the Nationwide today.
The report shows that throughout 2006, Northern Ireland house prices increased by 44% - an all time high, which on average means that prices rose by approximately £152 per day.
This increase now means that the average price of a property in Northern Ireland is now £181,000, a £9,000 gap between the average price of a house in the UK, which currently stands at £172,000.
However the Nationwide report has added that this rate of increase is not expected to continue.
(EF)
The report shows that throughout 2006, Northern Ireland house prices increased by 44% - an all time high, which on average means that prices rose by approximately £152 per day.
This increase now means that the average price of a property in Northern Ireland is now £181,000, a £9,000 gap between the average price of a house in the UK, which currently stands at £172,000.
However the Nationwide report has added that this rate of increase is not expected to continue.
(EF)
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High unemployment and budget cuts are being blamed for the falling house prices in Northern Ireland, according to a survey by the Royal Institution of Chartered Surveyors. The report by RICS and Ulster Bank also found that transaction volumes remained static in August.
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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.
