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19/02/2014
Property Prices Under Half Their Peak Value
The prices of residential property sold today in Northern Ireland are under half of their 2007 peak value, according to the latest figures from the Northern Ireland Statistics & Research Agency.
The stats show a 54% fall in the value of properties since the peak in 2007.
Results for the most recent quarter (October – December 2013), show that the number of house sales continues to increase, but that residential property prices remain ultimately unchanged.
There were just over 4,800 verified residential property sales recorded in Q4 2013, indicating a 28% increase over the year, a 16% increase over the quarter and the highest quarterly figure since 2007.
Between Q3 (July - September) 2013 and Q4 (October – December) 2013 residential property prices remained unchanged.
Prices increased by 4% over the year, from Q4 2012 to Q4 2013.
Finance Minister Simon Hamilton remains optimistic.
"This quarter’s report shows confidence is returning to the local housing market with the number of residential property sales at levels not seen for six years," he said.
"Over 4,800 residential properties sold during the fourth quarter of 2013, demonstrates buyers’ growing confidence in the housing market. This represents a 28% increase on the number of properties sold in the same quarter of 2012 and is the highest number of quarterly sales recorded since 2007."
(IT/MH)
The stats show a 54% fall in the value of properties since the peak in 2007.
Results for the most recent quarter (October – December 2013), show that the number of house sales continues to increase, but that residential property prices remain ultimately unchanged.
There were just over 4,800 verified residential property sales recorded in Q4 2013, indicating a 28% increase over the year, a 16% increase over the quarter and the highest quarterly figure since 2007.
Between Q3 (July - September) 2013 and Q4 (October – December) 2013 residential property prices remained unchanged.
Prices increased by 4% over the year, from Q4 2012 to Q4 2013.
Finance Minister Simon Hamilton remains optimistic.
"This quarter’s report shows confidence is returning to the local housing market with the number of residential property sales at levels not seen for six years," he said.
"Over 4,800 residential properties sold during the fourth quarter of 2013, demonstrates buyers’ growing confidence in the housing market. This represents a 28% increase on the number of properties sold in the same quarter of 2012 and is the highest number of quarterly sales recorded since 2007."
(IT/MH)
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Northern Ireland WeatherToday:Mostly dry south and east, patchy light rain west and north through much of the day. A band of heavier rain crosses central and northern parts in the morning Maximum temperature 13 °C.Tonight:Dry in the southeast at first otherwise widespread light rain or drizzle for most, turning to clear spells and a few showers towards morning. Minimum temperature 5 °C.
