Conveyancing

Report shows NI house prices still falling

Report shows NI house prices still falling

Despite a number of recent surveys suggesting that Northern Ireland property prices were stabilising, and in some cases increasing, the latest government statistics reveal that house values in the province... Read more

20 per cent increase in first time buyer mortgages

There was a 20 per cent increase in the number of first time buyers taking out a mortgage in the month of March, according to the Council of Mortgage Lenders. The... Read more

Investors driving the NI property market

There has been an increase in purchases of lower priced properties in Northern Ireland according to research by the Royal Institution of Chartered Surveyors (RICS), but it is thought to... Read more

£25k fine for building house without permission

A Northern Ireland man who built a house without any of the appropriate planning or building control permissions has been fined £25,000, his third fine in respect of the unapproved... Read more

Interest rates remain frozen at 0.5 per cent

As expected, the Bank of England has today confirmed that interest rates will remain frozen at 0.5 per cent - good news for mortgage borrowers and would-be house purchasers. Many commentators... Read more

NI property report shows signs of stabilisation

Northern Ireland property buyers are waiting anxiously for the headlines that house prices are on their way up again, but for now they will have to settle for reports that... Read more

Guide to Northern Ireland house value performance

Below is a quick glance guide to house value performance in the different regions of Northern Ireland based on the latest survey from the University of Ulster, produced with the... Read more

New mortgage approvals up in March

There was an increase in the number of new mortgage approvals for home purchasers and remortgagors in the month of March, though February's five year low was always going to... Read more

Mortgage borrowers favour 5yr fixed deals

Mortgage borrowers in Northern Ireland and the rest of the UK are turning to 5-year fixed products, with a 73% increase in the past year. Home buyers and remortgagors have traditionally... Read more

No confidence in Northern Ireland property prices

While the rest of the UK responded to a survey with growing confidence in the property market, not one person in Northern Ireland predicted any increase in house values this... Read more

Lending to first time buyers at 5yr high

New figures released by the Council of Mortgage Lenders suggests that lending to first time buyers in January and February reached a 5 year high. There was a 3 per cent... Read more

First time buyers are more optimistic

A new survey has revealed that first time buyers in Northern Ireland and the rest of the UK are slightly more optimistic about getting their foot on the property ladder. The... Read more

Survey suggests NI property prices steady

The latest Royal Institution of Chartered Surveyors (RICS) survey presents a very positive picture of the Northern Ireland property market, with the majority of those surveyed saying house prices had... Read more

Mortgage rates to fall in next quarter

The Bank of England expects mortgage rates to fall over the next three months, having already dropped for three quarters in a row. The fall in mortgage rates is thought to... Read more

Even hobbit houses need planning permission

Property owners in Wales have learned that it is one thing to build a house that is friendly to the environment, but it also has to be friendly to the... Read more

Mortgage borrowing down in February

Mortgage lending to fund house buying and remortgaging in Northern Ireland and the rest of the UK was down in February according to the latest figures from the The British... Read more

County Armagh castle sold for £1.19m

Killeavy Castle in County Armagh has been sold at auction for £1.19million, more than its guide price of just under £1million.The castle is a Grade 1 listing building, and after... Read more

Mansion tax defeated in House of Commons

The Labour party proposal of a "mansion tax" on properties in the UK worth over £2million has been defeated in the House of Commons. The proposal was criticised as being a... Read more

NI developers to be forced to complete sites

A power under the Planning Order to require developers to complete developments they have begun work on in Northern Ireland is being tested for the first time. There are a large... Read more

Survey suggests end to NI property price decline

Over a half of the estate agents and surveyors who took part in the latest Institution of Chartered Surveyors (RICS) poll said that property prices in Northern Ireland had remained... Read more

First-time sellers stuck on property ladder

The UK preoccupation with property shows no sign of abating, and all the monthly reports and statistics have us well familiar with the plight of the first-time buyer, but a... Read more

Liverpool City Council sell houses for £1

Liverpool City Council has come up with a bold initiative to tackle a problem with derelict housing in some of its' streets. The Council offered up 20 houses for a... Read more

NI is region with most negative equity

New figures from the Council of Mortgage Lenders show that 69,000 houses in Northern Ireland are in negative equity, making it the worst effected region of the UK. The Northern Ireland... Read more

NI first time buyers paid 20 pc deposits in 2012

The average deposit paid by the 5,100 first-time buyers who purchased a house in Northern Ireland last year was 20 per cent of the total property price, according to figures... Read more

NI house prices dropped 13 per cent in 2012

Another report has emerged in respect of the Northern Ireland property market, with the Land and Property service figures showing that houses lost 13 per cent in value over the... Read more

NI property activity up at lower end of market

The latest University of Ulster Quarterly House Price Index reveals that 69 per cent of property purchases in Northern Ireland involved houses costing £150,000 or less in the last quarter... Read more

Northern Ireland house price guide

The latest University of Ulster Quarterly House Price Index has been released with statistics on the Northern Ireland property market in the last quarter of 2012. Below is a list showing... Read more

Northern Ireland house prices still falling

Northern Ireland property prices are still falling according to the most recent report from the Royal Institute of Chartered Surveyers and Ulster Bank. On a positive note, there has been an... Read more

NI house prices to increase by 6% in 5 years

Property prices in Northern Ireland will increase by 6% over the next five years according to a new study by the think tank, Centre for Economics and Business Research (CEBR). The... Read more

First time buyers put January borrowing at 4yr high

New figures produced by E.surv suggest that mortgage borrowing reached a four year high in January of this year, with first time buyers using high loan-to-value mortgages said to be... Read more

Farmer can seek damages over land development delay

Court of Appeal judges have paved the way for a farmer to claim up to £400,000 damages against consulting engineers that delayed his housing development by 15 months, with the... Read more

Interest rates remain frozen at record low

As expected, the Monetary Policy Committee has today announced that interest rates will remain frozen at 0.5 per cent, which will mean that next month will see the completion of... Read more

Wilson Nesbitt commits to CA consumer pledges

Wilson Nesbitt has committed to support and uphold Conveyancing Association consumer pledges which are designed to make the process of buying a house smoother and more efficient for our clients... Read more

Belfast property owner loses NI vesting case

Joel Kerr, who was left with no property and a mortgage shortfall of £50,000 after his house was vested by the Northern Ireland Housing Executive (NIHE), has lost his attempt... Read more

Bank of England maintains interest rate freeze

The interest rate will remain at 0.5% for the 46th consecutive month, on course to reach four years in March 2013. As expected, the Bank of England monetary policy committee (MPC)... Read more

Decision on Belfast vested houses case today

A decision is expected today from the Land Tribunal in respect of the case brought by the Belfast homeowners who had their properties vested by the Northern Ireland Housing Executive... Read more

UK mortgage approvals continue to increase

The number of new mortgage approvals in Northern Ireland and the rest of the UK in November increased to a three year high according to new figures from the Bank... Read more

NI house prices fall back to 2004 values

Property prices in Northern Ireland fell by 1.4% in the last quarter of 2012, resulting in an overall 8.2% decrease for the year, which takes values back to the levels... Read more

5 year high of first-time buyers in 2012

The number of first-time buyers entering the property market in Northern Ireland and the rest of the UK reached a five year high in 2012, according to a new report... Read more

Average first time buyer deposit 27k

A new report by Halifax suggests that the average deposit put down by first time buyers in Northern Ireland and the rest of the UK in 2012 was £27,239. The number... Read more

New Years resolutions more finance orientated

The past couple of years have seen a change to the most popular New Years resolutions made by people in Northern Ireland and the rest of the UK. While dieting, exercise... Read more

Homeowners opt to reduce mortgage debt

The number of new mortgages taken out in November was marginally up on the month before, but down on the same month last year. Homeowners in Northern Ireland and the... Read more

Mortgage arrears and repossessions lower than forecast

The number of mortgage borrowers in arrears by the end of this year is 22 per cent lower than forecast at the start of 2012, and repossessions are also lower... Read more

CML predicts increased house sales in 2013

The Council of Mortgage Lenders (CML) is predicting an increase in house sales in Northern Ireland and the rest of the UK in 2013 as a result of the government... Read more

First time buyers to save 10 yrs for a deposit

A quarter of first-time buyers say it will take them 10 years to save the money required for a deposit to complete a house purchase, according to a new report... Read more

NI house prices to continue falling in 2013

A new house price forecast by the Royal Institution of Chartered Surveyors (RICS) suggests that Northern Ireland property values will continue to go down in 2013, while the rest of... Read more

NI commercial property market stabilising

The Northern Ireland commercial property market is showing signs of stability according to a report by University of Ulster academics. Social Development Minister Nelson McCausland launched the report that was co-produced... Read more

Equity release by parents reducing inheritances

New figures suggest that an increase in equity release among older property owners is resulting in fewer and smaller inheritances. The statistics produced by Remortgage.com point to the availability of mortgages... Read more

NI house prices dropping at a slower rate

Property prices in Northern Ireland may be starting to fall at a slower rate according to a new report, with the average house in Northern Ireland now said to be... Read more

Cheaper to buy a house than to rent

A new survey by Zoopla.co.uk suggests that it costs £1,080 less each year to purchase a house than to rent one in 90 per cent of towns in Britain. The average... Read more

Car parking spaces sell for over £50,000 each

While most property related headlines deal with the rise, or mostly fall, of house prices, in one resort in Cornwall, it is car parking spaces that are attracting headlines for... Read more

Northern Ireland house prices by region and type

House prices in Northern Ireland dropped in the third quarter of this year according to the latest University of Ulster Quarterly House Price Index, with apartments in particular experiencing the... Read more

Buying a house is bigger commitment than marriage

A couple of interesting surveys have emerged over the last weeks showing a curious relationship between property and marriage. Over 25 per cent of people in Northern Ireland and the rest... Read more

Mortgage lending increased in October

Mortgage lending reached an eleven month high in October, with a £12.9billion worth of new mortgages borrowed by people in Northern Ireland and the rest of the UK. The number of... Read more

Home ownership down in NI but higher than UK

The percentage of people in Northern Ireland who own a home has fallen but still remains higher than the overall UK average, according to new figures released by the Home... Read more

Belfast site close to being seized by NIHE

The Northern Ireland Housing Executive (NIHE) has successfully won the first part of a court case in a bid to seize back a site of land in Belfast city centre... Read more

Government too focused on first time buyers

A House of Lords select committee has been warned that the government is focusing too much on first time buyers, and neglecting other house purchasers in attempts to stimulate the... Read more

NI most affordable region in UK to buy property

Northern Ireland is the most affordable region of the UK to buy a property with regard to the house price to earnings ratio, according to new figures from Nationwide. That has... Read more

Co-ownership gets £50million boost

The Northern Ireland Co-ownership Housing Association (NICHA) has received a £50million cash injection from the Bank of Ireland and Barclays, to help more first time buyers get on to the... Read more

NI property buyers turn to auctions for bargains

An increasing number of Northern Ireland property purchasers are turning up at auctions hoping to pick up a bargain, and many are walking away with a property deal that has... Read more

Northern Ireland's negative equity problem

New research by the Council of Mortgage Lenders (CML) suggests that negative equity could soon just be an issue for Northern Ireland property owners. Negative equity occurs when a homeowner has... Read more

First time buyers borrowing from family doubles

A report by the Yorkshire Building Society has revealed that the number of first-time buyers turning to family for help purchasing their house has more than doubled in the last... Read more

Remortgaging and house buying down in September

The Council of Mortgage Lenders (CML) have reported that mortgage lending in Northern Ireland and the rest of the UK was down in September. The number of new mortgages taken out... Read more

1.6m would-be house buyers living with parents

Over 1.6 million would-be house purchasers aged 20-40 are having to live with their parents because they can not afford to buy a property, according to a new survey by... Read more

Mortgage borrowers preferring 5 yr fixed deals

New mortgage borrowers in Northern Ireland and the rest of the UK are preferring five-year fixed deals, as property owners try to make the most of the record low interest... Read more

Increase in Mortgage lending in August

There was an increase in the number of house buyers approved for mortgages in the month of August according to the latest figures from the Council of Mortgage Lenders (CML). There... Read more

New lending scheme expected to boost house sales

Property sales in Northern Ireland and the rest of the UK are expected to increase over the next quarter according to a survey carried out by the Royal Institution of... Read more

Labour propose two year stamp duty holiday

Shadow chancellor Ed Balls is to propose a two year stamp duty holiday for first-time buyers purchasing a property worth £250,000 or less. Mr Balls will outline the proposal at the... Read more

Lib Dems propose pension-from-property scheme

Nick Clegg has announced a Liberal Democrat proposal to introduce a 'pension-from-property' scheme which would allow parents and grandparents of first-time buyers to use a portion of their pension to... Read more

Tribunal hearing over Belfast vested houses

A land tribunal will consider the case of property owners in south Belfast whose properties were vested by the Northern Ireland Housing Executive to create space for development. Homeowners in south... Read more

Drop in mortgage deposit requirement for FTBs

The percentage deposit required to be put forward by a first-time buyer in order to get a mortgage for a house purchase has dropped below 20% according to new statistics. The... Read more

First-time buyers expect to buy at 40

A new study has revealed that first-time buyers don't expect to be in a position to purchase a property until they reach the age of 40. Approximately 600 would-be first-time buyers... Read more

Drop in pace of NI house price decline

The latest survey by the Royal Institution of Chartered Surveyors (RICS) suggests that Northern Ireland house prices are dropping at  a slower rate since April this year, and RICS suggests... Read more

Northern Ireland land valued at £75m sold for £4m

A site of land outside Ballymena, Northern Ireland, that was once valued at £75million has been sold for £4million, and to make matters worse, a £50million offer to purchase was... Read more

Purchaser of Belfast house ordered to complete

A purchaser who entered into contract to purchase a house in Malone Park, Belfast, has been told he must complete the purchase after he attempted to withdraw from the agreement. Nicholas... Read more

Labour consider permanent Mansion tax

Labour Shadow Chancellor Ed Balls has said in an interview that a future Labour government may introduce a permanent wealth tax, or mansion tax. The Liberal Democrats have previously proposed a... Read more

Northern Ireland house price guide

The latest University of Ulster Quarterly House Price Index estimates that the overall average house price in Northern Ireland is currently £139,633. That figure does not include houses sold at... Read more

Report suggests NI property market stability

The latest University of Ulster Quarterly House Price Index suggests that there are signs of stability returning to the property market in some regions of Northern Ireland. The overall average sale... Read more

Grants for NI homeowners to upgrade heating

Northern Ireland homeowners can apply for a grant of up to £1000 to replace old inefficient boilers. The Northern Ireland Executive has pledged £12million in grants to help property owners upgrade... Read more

1000 NI homes sold each month last quarter

Approximately 1000 Northern Ireland houses were sold each month in the second quarter of this year according to the official Residential Property Price Index. The report is published by the Land... Read more

Investment risks farmland IHT exemption

The increasing practice of investors purchasing farming land to avoid inheritance tax could result in the IHT exemption on farmland being removed altogether by HMRC. In some areas farmers are finding... Read more

Interest rates unchanged in August

The Bank of England has once again chosen to maintain interest rates at 0.5%, and has not increased its quantitative easing (QE) programme. The decisions were widely expected as an increase... Read more

Bidder got 'carried away' at NI house auction

A judge has ruled that a man who "got a little carried away" when he bid over £1million at a property auction in Northern is still required to complete the... Read more

NI estate agent reports sales at 3 yr high

County Down estate agent John Minnis has announced that they have had their best quarter of property sales for three years. The announcement comes amidst continuing reports of falling house prices... Read more

Record repayment of mortgages by homeowners

Figures released by the Bank of England show that homeowners are racing to pay off their mortgage, with a record £9.1million paid back between April and June this year by... Read more

Stamp duty relief will not be extended

The stamp duty relief currently benefiting first-time buyers purchasing a house up to the value of £250,000 will not be extended beyond 24th March 2012 as the government has taken... Read more