STEADY RISE IN NI HOUSE SALES

House prices stll falling in Northern Ireland but sales are on the up

House prices stll falling in Northern Ireland but sales are on the up

A NEW survey by the Royal Institution of Chartered Surveyors and Ulster Bank says houses sales are on the rise in Northern Ireland.

However, house prices have fallen by a third.

The study found that first time buyers and investors are contributing to the increase.

Half of respondents said sales rose in the three months to the end of April – and they expect to see the trend continue into the next three months.

Tom McClelland from RICS said: “Transaction volumes have been gradually rising, which is welcome news.

“Seasonal factors are clearly playing a role, as well as a seeming increase in confidence amongst investors and first time buyers.

“We remain of the view that there will continue to be seasonal adjustments, and that 2013 will see a trend of easing price falls and modestly improving transaction volumes.”

Prices were down by 33% in the period ending April but the outlook in this area is believed to be more positive. Almost one in five respondents expect prices to rise between May and July.

 

 

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