Northern Ireland house sales and prices continue to rise
Northern Ireland house prices continue to rise and are expected to increase again in the next three months according to the latest RICS and Ulster Bank Residential Market Survey.
Local surveyors expect sales activity to pick up, however the rate at which new properties are coming onto the market is not keeping pace with new buyer enquiries.
Highlights from Northern Ireland surveyors
- 52% said that prices rose over the past three months
- 41% said that they expect prices to continue to rise over the next three months
- 8% said that newly agreed sales had increased last month
- 11% said that new instructions had increased
- 32% said that new buyer enquiries had increased
Mortgage lending in Northern Ireland picked up in the second quarter of the year according to the latest figures from the Council of Mortgage Lenders. Our experience at Ulster Bank is that the third quarter saw a further increase in activity. The levels of mortgage demand that we are currently experiencing also points to a strong few months ahead.
Derek Wilson, Head of Lending Products at Ulster Bank
Source: www.rics.org - 14/10/2015