Northern Ireland property prices to grow the most in 2015

By Michelle Rock

It is being predicted that property prices in Northern Ireland will increase more than any other region of the UK in 2015.

The forecast on house values was made by the Royal Institute of Chartered Surveyors (RICS), and while home owners in Northern Ireland might get excited by the headline prediction, it is worth noting that RICS only anticipates a 4 per cent increase in property prices in the region - it is predicting a UK average of 3 per cent. That 1 per cent difference, should it come to fruition, would do little to address the current low property prices in Northern Ireland which are 43 per cent below their peak levels reached in 2007.

Surveyors in Northern Ireland who responded to the RICS survey suggested that there had been an increase in property sale transactions in December of last year, and they are expecting volumes to grow more in the first quarter of 2015.

If you are buying, selling or remortgaging a house in Northern Ireland, and want to speak to a property conveyancing solicitor for initial information or advice, call Wilson Nesbitt in Belfast at 0800 840 9290.

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