Northern Ireland house prices expected to increase

By Lauren Burns

Northern Ireland house prices increased in October, according to the latest RICS (Royal Institution of Chartered Surveyors) and Ulster Bank market survey, and surveyors are predicting that property values will increase further.

The number of newly agreed property sales fell in October, and is in keeping with concerns by surveyors on the lack of properties coming on to the market in Northern Ireland. Samuel Dickey of RICS says the "upbeat picture" of the Northern Ireland property market is expected to "continue into 2018, albeit that there are some challenges, including limited supply, alongside rising inflation and the fact that interest rates are edging upwards."

Mr Dickey says the property market conditions are more favourable in Northern Ireland compared to the rest of the UK, "with most other regions seeing both prices and activity flat or falling." Sean Murphy of the Ulster Bank says the strong economic growth in Northern Ireland is a factor behind the "relatively buoyant" housing market.

If you are buying a house in Northern Ireland, or selling or remortgaging your existing home, contact one of the property conveyancing solicitors at Wilson Nesbitt in Belfast or Bangor for information and advice by clicking here.