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28/11/2012
NI House Prices Fall
House Prices in Northern Ireland continue to drop, according to new figures.
The University of Ulster Quarterly House Price Index has showed slight price rises in the second quarter of the year did not continue into the summer.
It had been thought July, August and September would see a modest recovery in the market, but these hopes were proven to be unfounded.
The average cost of a home is down 3.6% on 2011 to just under £139,000. Costs fell 1.75% in the third quarter.
The survey was produced in partnership with Bank of Ireland and the Northern Ireland Housing Executive.
The trend in the figures is generally that of decline, especially in the cost of apartments, down 22.7% on last year.
But semi-detached bungalows and detached homes have increased in price over the past year, showing increases of 16.1% and 9.3% respectively.
The report also showed up the regional differences in Northern Ireland. The Belfast market improved but the Enniskillen/Fermanagh/South Tyrone market was found to be the least expensive.
Just 958 transactions occurred during the third quarter
72% of sales were at or below £150,000.
The authors of the report, Professor Alastair Adair, Professor Stanley McGreal and Dr David McIlhatton, said: "The results re-emphasise that recovery in the market is slow and, while there is some suggestion of improved price performance in parts of Northern Ireland and for certain property types, the overall weighted quarterly decline suggests that market sentiment is still to the downside."
(IT)
The University of Ulster Quarterly House Price Index has showed slight price rises in the second quarter of the year did not continue into the summer.
It had been thought July, August and September would see a modest recovery in the market, but these hopes were proven to be unfounded.
The average cost of a home is down 3.6% on 2011 to just under £139,000. Costs fell 1.75% in the third quarter.
The survey was produced in partnership with Bank of Ireland and the Northern Ireland Housing Executive.
The trend in the figures is generally that of decline, especially in the cost of apartments, down 22.7% on last year.
But semi-detached bungalows and detached homes have increased in price over the past year, showing increases of 16.1% and 9.3% respectively.
The report also showed up the regional differences in Northern Ireland. The Belfast market improved but the Enniskillen/Fermanagh/South Tyrone market was found to be the least expensive.
Just 958 transactions occurred during the third quarter
72% of sales were at or below £150,000.
The authors of the report, Professor Alastair Adair, Professor Stanley McGreal and Dr David McIlhatton, said: "The results re-emphasise that recovery in the market is slow and, while there is some suggestion of improved price performance in parts of Northern Ireland and for certain property types, the overall weighted quarterly decline suggests that market sentiment is still to the downside."
(IT)
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NI house prices buck UK trend and keep rising
The housing market in Northern Ireland is yet to see evidence of a slow down - unlike other parts of the UK - according to the region’s most authoritative survey of house prices.
NI house prices buck UK trend and keep rising
The housing market in Northern Ireland is yet to see evidence of a slow down - unlike other parts of the UK - according to the region’s most authoritative survey of house prices.
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