Housing Market Confidence Remains High

Confidence in Northern Ireland's housing market remains higher than elsewhere in the UK, according to the latest Royal Institute of Chartered Survors (RICS) and Ulster Bank Residential Market Survey.

This is in contrast to other regions, particularly London, where sales expectations are in negative territory regarding the next 12 months.

NI house prices have also continued to move upwards according to respondents, with a net balance of +60% of surveyors saying that they had seen a rise in the past three months.

Northern Ireland surveyors also remain positive about the outlook for prices in the coming months with a net balance of 36% saying they expect a rise in the next quarter and a net balance of 77% saying they expect house prices to be higher this time next year.

Samuel Dickey, RICS Residential Property Spokesman said: "Unlike in other parts of the UK, surveyors in Northern Ireland are seeing prices rising and are remain confident about the outlook. With houses in Northern Ireland more affordable than elsewhere, people continue to want to buy their own home. The main challenge though is that there are not enough properties to meet the demand."

(CD/MH)