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Saturday 23 August 2014

NI house prices 'still falling'

Published 12/02/2013 | 00:06

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House prices in Northern Ireland continue to fall, according to a recent report

Northern Ireland house prices are still falling, a new report has revealed.

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Estate agents reported increased property transactions, but the three months over Christmas and new year confirmed another slump in the ailing market, according to the latest poll by the Royal Institution of Chartered Surveyors.

More than half (62%) said transactions were up and while 54% expect them to continue rising in the next three months, January's balance had remained in negative territory at -29.

RICS Northern Ireland housing spokesman Tom McClelland said: "We will see some seasonal adjustments in the market, but on the whole the overall pattern will remain largely the same for the foreseeable future due to the challenging micro and macroeconomic conditions.

"Average prices will likely edge lower, with transaction volumes likely to rise modestly. However, it is not a uniform picture and some areas and property types will have different experiences."

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