Northern Ireland property sales and prices expected to increase

By Lauren Burns

Northern Ireland surveyors expect property sale transaction levels and property prices to increase in the coming months, according to the latest Royal Institution of Chartered Surveyors (RICS) and Ulster Bank report.

There was an increase in the number of property surveyors and estate agents who had seen a rise in house prices over the past few months, though there are concerns about a lack of supply of new properties to the market, with the number of first time buyers far out-weighing the number of home movers entering the market.

Affordability of housing in Northern Ireland compares very favourably to other regions of the UK, and with a strong construction output in recent months, there are predictions that Northern Ireland could become the next hotspot for property developers. Roxana Mohammadian-Molina, BDM at Blend Network, considers that the real activity from property developers won't begin until there is "clarity around [what] the future NI will look like within the UK" following Brexit.

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