Thursday 19 April 2018

NI house prices expected to fall further - experts

Michael McHugh

HOUSE prices in Northern Ireland are expected to fall further in the months ahead, housing experts said.

The market in greater Belfast is better than other parts of the region, the Royal Institution of Chartered Surveyors (RICS) said.

There were some encouraging signs for the housing market in April, according to the latest RICS and Ulster Bank Housing Market Survey.

RICS Northern Ireland housing spokesman Tom McClelland said: "At the lower end of the market at least, there are also increasing signs that asking prices and buyers' ability to borrow are more closely aligned."

The number of sales has improved because of seasonal factors like the start of spring.

But most surveyors are still reporting falling prices and expect prices to fall in the months ahead.

The April survey found 48pc of those asked said that prices fell in the last three months, 10pc that they rose, and 42pc that they were unchanged.

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