House price decline much worse in NI
The extent of disparity in the recovery of the property market in Northern Ireland as compared to the rest of the UK was highlighted with the publication of the latest UK house price index statistics.
The report released by the Department for Communities and Local Government (DCLG) shows that average house prices have remain unchanged during 2011 in England, have decreased marginally in Scotland and Wales (-1.2 per cent and -1.4 per cent respectively), and have gone down by a staggering -15.2% in Northern Ireland. Meanwhile, a recent survey has revealed that a higher percentage of Northern Ireland property owners are carrying our home renovations and works than in any other region of the UK, with a view to increase the property value or to increase their appeal to purchasers.
If you are buying, selling or remortgaging a property in Northern Ireland and need to find a solicitor to handle the conveyancing process for you, contact Wilson Nesbitt in Belfast by email at property@wilson-nesbitt.com .
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