Northern Ireland property prices at 7 year high

By Lauren Burns

Northern Ireland property prices are at their strongest in 7 years according to the latest University of Ulster quarterly house price index.

The average property purchased in Northern Ireland between April and June cost £139,720 - up 6.9 per cent on the same quarter last year, and up 1.4 per cent on Q1 of this year. The average purchase price is somewhat distorted by a small number of high value property purchases, and the report suggests that 40 per cent of activity in the market actually involved properties priced at £100,000 or under.

The housing market is at it's strongest since 2007, and estate agents who responded to the survey suggest that property sales are up by 42 per cent compared to the same quarter last year.

The authors of the report say that the property market in Northern Ireland "has moved to a new phase of greater buoyancy."

If you are buying, selling or remortgaging a house in Northern Ireland, and require a property conveyancing solicitor to handle the legal process for you, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.

Or to request a solicitor fee estimate online for a property transaction click here.

 

 

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