Fourth consecutive month of NI house price increases

By Christine Farrell

Members of the Royal Institution of Chartered Surveyors (Rics) in Northern Ireland are agreed that property prices have increased for the fourth consecutive month.

Approximately 60 per cent of the agents who responded to the Rics monthly survey said that prices went up between July and September. The others that were polled said prices had remained the same - none had witnessed a decline in property values.

While the steady price increases will bring some much-needed purchaser confidence to the Northern Ireland property market, values have a long way to go to reach the peak levels of 2007 that have left so many home movers dealing with a negative equity problem. The regional variations also mean that property prices in some areas are at best holding their value, with the larger increases being experienced in specific areas, such as parts of Belfast.

If you are buying a new property, or selling or remortgaging your existing house, and need a conveyancing solicitor to handle the legal process for you, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.

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