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03/09/2001
Housing market recovers following early 2001 setback
The Quarterly House Price Index survey by the University of Ulster and the Royal Institution of Charter Surveyors (RICS) has revealed that Northern Ireland's housing market is making a good recovery after a setback earlier this year.
The Ulster Bank funded survey, considered one of the best barometers for the province's housing market, showed a recovery of the market during the spring months following a slow down in the house price growth rate in Northern Ireland in the early part of the year.
Across all house types, the average price of residential property in the province now stands at £86,705. The average price by sector for the second quarter of this year is £134,039 for detached houses; £111,126 for detached bungalows; £83, 804 for apartments; £79,953 for semi-detached houses; £71,580 for semi-detached bungalows and £59,895 for terraced houses.
According to the survey, these prices indicate a weighted increase in prices of just over 11 per cent over all sectors of the residential market compared with the situation for the second quarter of 2000. (MB)
The Ulster Bank funded survey, considered one of the best barometers for the province's housing market, showed a recovery of the market during the spring months following a slow down in the house price growth rate in Northern Ireland in the early part of the year.
Across all house types, the average price of residential property in the province now stands at £86,705. The average price by sector for the second quarter of this year is £134,039 for detached houses; £111,126 for detached bungalows; £83, 804 for apartments; £79,953 for semi-detached houses; £71,580 for semi-detached bungalows and £59,895 for terraced houses.
According to the survey, these prices indicate a weighted increase in prices of just over 11 per cent over all sectors of the residential market compared with the situation for the second quarter of 2000. (MB)
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