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13/08/2008
NI Property Slump 'Faring' Better Than Rest Of UK
Market indicators have suggested the Northern Ireland 'property crash' is experiencing a decelerated pace of decline than other parts of the UK.
Figures produced by the RICS (Royal Institution of Chartered Surveyors) have revealed the Province's housing market is faring slightly better than other British regions, as prices continue to fall across the United Kingdom.
Results for July, generated by Ulster Bank, showed 88% of Ulster surveyors had adjusted property prices compared to 98% of agents in the North of England, 96% in Yorkshire and 93% in the West Midlands.
Buyers are being tempted by falling prices according to RICS.
Northern Ireland RICS spokesman, Tom McClelland, said: "Low sales levels are not unexpected during July.
"However continued uncertainty amongst potential buyers and difficulties that first time buyers are experiencing obtaining mortgage finance have resulted in the housing market being at a virtual standstill in many areas."
Mr McClelland said "confusion over the Treasury position on stamp duty" would not help boost sales in the short-term.
He said government-led initiatives, in addition to falling prices, should begin to draw new buyers back into the market place.
"Indeed some agents are already reporting an increase in inquiry levels in some areas as many seek bargains," added Mr McClelland.
Head of Mortgages at Ulster Bank, Derek Wilson has said the bank's "doors are still open" to new mortgage business, with advisers "readily available to discuss individual customer needs".
Mr Wilson said: "There is uncertainty amongst homebuyers and those remortgaging and it is therefore more important than ever that they avail of the best mortgage advice available.
"Consumers should ensure that they fully investigate their options in order to avail of the most suitable products to meet their individual needs."
(PR/JM)
Figures produced by the RICS (Royal Institution of Chartered Surveyors) have revealed the Province's housing market is faring slightly better than other British regions, as prices continue to fall across the United Kingdom.
Results for July, generated by Ulster Bank, showed 88% of Ulster surveyors had adjusted property prices compared to 98% of agents in the North of England, 96% in Yorkshire and 93% in the West Midlands.
Buyers are being tempted by falling prices according to RICS.
Northern Ireland RICS spokesman, Tom McClelland, said: "Low sales levels are not unexpected during July.
"However continued uncertainty amongst potential buyers and difficulties that first time buyers are experiencing obtaining mortgage finance have resulted in the housing market being at a virtual standstill in many areas."
Mr McClelland said "confusion over the Treasury position on stamp duty" would not help boost sales in the short-term.
He said government-led initiatives, in addition to falling prices, should begin to draw new buyers back into the market place.
"Indeed some agents are already reporting an increase in inquiry levels in some areas as many seek bargains," added Mr McClelland.
Head of Mortgages at Ulster Bank, Derek Wilson has said the bank's "doors are still open" to new mortgage business, with advisers "readily available to discuss individual customer needs".
Mr Wilson said: "There is uncertainty amongst homebuyers and those remortgaging and it is therefore more important than ever that they avail of the best mortgage advice available.
"Consumers should ensure that they fully investigate their options in order to avail of the most suitable products to meet their individual needs."
(PR/JM)
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05 May 2009
Housing Downturn Continues, Says Expert
High hopes that the housing slump in Northern Ireland was coming to an end have been dashed this week. A property expert has dismissed claims by economists that the housing market downturn is over.
Housing Downturn Continues, Says Expert
High hopes that the housing slump in Northern Ireland was coming to an end have been dashed this week. A property expert has dismissed claims by economists that the housing market downturn is over.
12 October 2011
NI House Prices Continue To Fall
According to a recent survey the Northern Ireland housing market has seen a slight improvement in September but it also suggested that house prices are continuing to fall.
NI House Prices Continue To Fall
According to a recent survey the Northern Ireland housing market has seen a slight improvement in September but it also suggested that house prices are continuing to fall.
21 August 2008
High Level Support For First Time Buyers Scheme
A metaphorical 'tightly-bolted door' that is keeping many first-time house buyers out of the market, could be about to be unlocked, through a new bank-led initiative. Ulster Bank has joined forces with property developers from across Northern Ireland to support hard-pressed first-time buyers onto the property ladder.
High Level Support For First Time Buyers Scheme
A metaphorical 'tightly-bolted door' that is keeping many first-time house buyers out of the market, could be about to be unlocked, through a new bank-led initiative. Ulster Bank has joined forces with property developers from across Northern Ireland to support hard-pressed first-time buyers onto the property ladder.
28 August 2008
NI Developer Cuts House Prices By 40%
A Northern Ireland building firm has slashed its house prices by almost 40%, in a fresh bid to inject life into the ailing property market. Fraser Homes has trimmed £90,000 off the price of its semi-detached properties in Glengormley, reducing the price from £229,500 to £139,950.
NI Developer Cuts House Prices By 40%
A Northern Ireland building firm has slashed its house prices by almost 40%, in a fresh bid to inject life into the ailing property market. Fraser Homes has trimmed £90,000 off the price of its semi-detached properties in Glengormley, reducing the price from £229,500 to £139,950.
11 September 2012
First Time Buyer Numbers On The Up
First-time buyers in Northern Ireland are taking advantage of falling house prices, new figures suggest. A survey by the Royal Institution of Chartered Surveyors found that the proportion of first-time buyers in the housing market is at its largest since 2001.
First Time Buyer Numbers On The Up
First-time buyers in Northern Ireland are taking advantage of falling house prices, new figures suggest. A survey by the Royal Institution of Chartered Surveyors found that the proportion of first-time buyers in the housing market is at its largest since 2001.
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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.
