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15/05/2009
Huge Fall In House Prices Revealed
Despite signs across Ireland that the recession might be 'bottoming-out', Northern Ireland's house prices have continued to fall.
They plunged a dramatic 35% over the last 12 months, a survey from the University of Ulster has shown.
The house price survey also showed that the drop in property prices since the peak of the market in late 2007 was even greater, down almost 40%.
The findings come shortly after a recent report from the Royal Institute of Chartered Surveyors, which suggested growing confidence among valuers that the worst of the price falls might now be over.
The UU survey, which is produced in partnership with the Bank of Ireland and the Northern Ireland Housing Executive, also found that the quarterly rate of decline was slowing.
But it warned that prices may have further to fall – in other words, house prices have continued to fall in recent months, but much less steeply.
The year-on-year drop to the end of March included a 10.8% fall during the first three months of 2009, according to the UU survey.
The decline in values slowed from the 16.6% experienced during the last quarter of 2008.
The average house price of around £157,000 is now back at the pre-property boom levels of early 2006.
The number of transactions also remains low, at just 692 in January, February and March, according to the UU Quarterly House Price Index.
See: Economy To Be Back On Track By 2011
(BMcC/JM)
They plunged a dramatic 35% over the last 12 months, a survey from the University of Ulster has shown.
The house price survey also showed that the drop in property prices since the peak of the market in late 2007 was even greater, down almost 40%.
The findings come shortly after a recent report from the Royal Institute of Chartered Surveyors, which suggested growing confidence among valuers that the worst of the price falls might now be over.
The UU survey, which is produced in partnership with the Bank of Ireland and the Northern Ireland Housing Executive, also found that the quarterly rate of decline was slowing.
But it warned that prices may have further to fall – in other words, house prices have continued to fall in recent months, but much less steeply.
The year-on-year drop to the end of March included a 10.8% fall during the first three months of 2009, according to the UU survey.
The decline in values slowed from the 16.6% experienced during the last quarter of 2008.
The average house price of around £157,000 is now back at the pre-property boom levels of early 2006.
The number of transactions also remains low, at just 692 in January, February and March, according to the UU Quarterly House Price Index.
See: Economy To Be Back On Track By 2011
(BMcC/JM)
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30 June 2010
Further Fall For NI House Prices
House prices continue to fall in Northern Ireland, a new survey has revealed. Figures released by the Nationwide building society indicate that the housing market in NI is the weakest of any in the UK. Prices have dropped by 5.7% during the second quarter of 2010, compared to a 1% drop in the first three months, the report found.
Further Fall For NI House Prices
House prices continue to fall in Northern Ireland, a new survey has revealed. Figures released by the Nationwide building society indicate that the housing market in NI is the weakest of any in the UK. Prices have dropped by 5.7% during the second quarter of 2010, compared to a 1% drop in the first three months, the report found.
14 November 2024
New Defence Heritage Record Launched
Communities Minister Gordon Lyons has welcomed the launch of a new Defence Heritage Record, a comprehensive resource detailing over 4,500 sites constructed across Northern Ireland in response to World War One and Two, as well as the Cold War.
New Defence Heritage Record Launched
Communities Minister Gordon Lyons has welcomed the launch of a new Defence Heritage Record, a comprehensive resource detailing over 4,500 sites constructed across Northern Ireland in response to World War One and Two, as well as the Cold War.
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Traffic Warning For South Belfast Ahead Of Northern Ireland Match
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Traffic Warning For South Belfast Ahead Of Northern Ireland Match
Road users are advised to plan for potential traffic delays in the south Belfast area on Friday, 15th November due to the UEFA Nations League football match between Northern Ireland and Belarus. The match will take place at Windsor Park, kicking off at 7.45pm, and it is expected that around 18,000 supporters will attend.
09 February 2012
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
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.
12 February 2013
NI House Prices Continue To Fall
Northern Ireland house prices continue to fall despite an increase in transactions, according to a new report. The survey by the Royal Institute of Chartered Surveyers (RICS) and Ulster Bank revealed the overall pattern of declination was likely to remain for the foreseeable future.
NI House Prices Continue To Fall
Northern Ireland house prices continue to fall despite an increase in transactions, according to a new report. The survey by the Royal Institute of Chartered Surveyers (RICS) and Ulster Bank revealed the overall pattern of declination was likely to remain for the foreseeable future.
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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.
