Northern Ireland property prices up in April says RICS

By Lauren Burns

Northern Ireland property prices increased in April for the 11th consecutive month according to the recent survey by the Royal Institution of Chartered Surveyors (RICS).

Of those who responded to the survey, 72 per cent said property prices increased in April, 19 per cent said they were stagnant, and 8 per cent said values had actually fallen. RICS spokesman for Northern Ireland, Samuel Dickey, said the price increases are a result of "improvements in the wider economy and confidence that the housing market downturn is behind us." He also considered that activity in the property market is traditionally high in April which also helps drive up prices.

Despite the property price increases in Northern Ireland values are still at a half of where they were during the property boom in 2007. Figures about the Northern Ireland property market are also at risk of being confused by the stronger performance of house prices in the Belfast area, which is perhaps reflected in the 28 per cent of respondents to the RICS survey who considered that property prices were unchanged or had fallen.

If you are a first time buyer or home mover in Northern Ireland requiring a conveyancing solicitor to handle a property purchase or sale, contact Wilson Nesbitt in Belfast or Bangor by calling 0800 840 9290.