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18/09/2013
NI House Prices Continue To Rise
New figures from the Office for National Statistics (ONS) reveal that house prices in Northern Ireland continue to increase.
House prices have risen by 1.8% year-on-year as the market shows signs of a slow recovery, following some sharp falls.
In July, the annual pace of house price inflation improved across the UK as a whole to its fastest rate recorded in 2013 at 3.3%. The increase takes prices to an average of £245,000.
Prices rose by 0.3% month-on-month.
Recently, there have been concerns that various Government initiatives, aimed at helping to kick-start the market, are in danger of creating a 'property bubble'.
Last week, a report by the Royal Institution of Chartered Surveyors (RICS) suggested that a 5% cap should be placed on annual house price growth to stop any future house price bubble and to stop borrowers taking on too much debt for fear of missing out on a market boom.
(JP/CD)
House prices have risen by 1.8% year-on-year as the market shows signs of a slow recovery, following some sharp falls.
In July, the annual pace of house price inflation improved across the UK as a whole to its fastest rate recorded in 2013 at 3.3%. The increase takes prices to an average of £245,000.
Prices rose by 0.3% month-on-month.
Recently, there have been concerns that various Government initiatives, aimed at helping to kick-start the market, are in danger of creating a 'property bubble'.
Last week, a report by the Royal Institution of Chartered Surveyors (RICS) suggested that a 5% cap should be placed on annual house price growth to stop any future house price bubble and to stop borrowers taking on too much debt for fear of missing out on a market boom.
(JP/CD)
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Northern Ireland WeatherToday:A dry day with long spells of sunshine for most, however eastern coasts will see rather more in the way of cloud at times, with just the risk of an odd light morning shower. Mainly light northerly winds. Maximum temperature 13 °C.Tonight:A fine end to the day with some evening sunshine. It remains dry overnight with a touch of frost possible in places, although cloud is expected to increase towards dawn. Minimum temperature 0 °C.
