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09/11/2023
NI House Prices Continue To Rise
NI house prices are continuing to rise, according to a latest market survey.
The Royal Institution of Chartered Surveyors (RICS) said 23% of respondents noted an increase in prices in October.
Samuel Dickey from RICS said: "On the whole, the Northern Ireland housing market remains in a stronger position than other parts of the UK with prices increasing and sales continuing to take place.
"While respondents are reporting an easing back in new buyer enquiries, this is not unexpected given interest rate rises and the time of year.
"Respondents are more positive about the sales market over the next 12 months.
"Looking at the rental market, we’re continuing to see an imbalance of supply and demand, with not enough stock to meet the needs of the market which is driving up pricing.
"Anecdotally, we’re also seeing some landlords selling properties, which is applying further pressure to the market."
The Royal Institution of Chartered Surveyors (RICS) said 23% of respondents noted an increase in prices in October.
Samuel Dickey from RICS said: "On the whole, the Northern Ireland housing market remains in a stronger position than other parts of the UK with prices increasing and sales continuing to take place.
"While respondents are reporting an easing back in new buyer enquiries, this is not unexpected given interest rate rises and the time of year.
"Respondents are more positive about the sales market over the next 12 months.
"Looking at the rental market, we’re continuing to see an imbalance of supply and demand, with not enough stock to meet the needs of the market which is driving up pricing.
"Anecdotally, we’re also seeing some landlords selling properties, which is applying further pressure to the market."
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
