20/02/2013

NI Property Prices Continue To Fall

Residential property prices continue to fall in Northern Ireland.

Over the year to the end of December 2012, prices fell by 13%, according to the latest report by the Northern Ireland Statistics and Research Agency (NISRA).

The Index measures change in the price of residential property sold in Northern Ireland.

Results from the report showed residential prices fell by 3% between the third and final quarter last year.

Northern Ireland reached its peak property price index in the third quarter of 2007.

But prices of residential property sold today are now just under half of their peak value, indicating a 56% fall.

There were 3,693 verified residential Northern Ireland property sales recorded by Her Majesty’s Revenue & Customs in the fourth quarter of 2012. This showed a 20% increase over the number recorded in the fourth quarter of 2011 and the highest number recorded since the fourth quarter of 2007.

(IT)

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