Latest NI property report confirms increase in sales

By Michelle Rock

The latest Northern Ireland property market report to emerge comes from the University of Ulster, and it agrees with other reports from the past week that house sales have jumped significantly in the third quarter of this year.

The University of Ulster quarterly house price index suggests that there was a 20 per cent increase in property sale transactions between the second and third quarter of this year, with property prices on average increasing by 1.3 per cent - though there are regional and house type variations within that average. The 1,706 property purchases between July and September is the highest quarterly activity since the April to June months of 2007.

The authors of the report, Prof Alastair Adair, Dr John McCord, Prof Stanley McGreal and Dr David McIlhatton , consider that the rise in house purchases is "a major step forward for the local housing market".

There are a number of property reports that emerge at the end of each quarter, and while they invariably differ to some degree, the statistics that have emerged so far in respect of the third quarter of 2013 all point to an active Northern Ireland property market showing promising signs for 2014.

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