Belfast and other largest UK cities record property price rise

By Lauren Burns

For the first time since November 2004 the 20 largest cities in the UK have recorded property price increases of at least 5 per cent.

The annual increase in property prices in Belfast was 8.3 per cent according to property analyst Hometrack. The largest increase was 17.3 per cent in London, with the lowest being 5.5 per cent in Liverpool and Glasgow. While it is a signal of strength in the UK-wide property market, Hometrack say there are signs of cool down, with values increasing at a lesser rate in the last quarter of the year.

That house prices are increasing in the cities of Northern Ireland and the rest of the UK somewhat distorts the view of the regional property markets. Even within Belfast itself there is a disparity in the rate of property price increases between different areas, and those variations are even more pronounced outside the city.

If you are buying, selling or remortgaging a property in Northern Ireland, and require legal advice or information from a conveyancing solicitor, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.

 

 

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