Northern Ireland property market is Belfast-centric

By Michelle Rock

Estate agent John Minnis says the strength of the Northern Ireland property market is currently 'Belfast-centric', but that rising house prices in the capital have "a ripple effect to outlying areas".

The comments came after the release of the latest property index by the Northern Ireland Statistics & Research Agency (NISRA). The figures show a 21 per cent increase in property sales compared to the same quarter in 2013, and that the average property purchase in Northern Ireland is for £107,855. While property prices have increased steadily over the last 12 months, there are regional differences. In particular the index shows a notable divide in the fortunes of the Belfast property market, with houses in the West and South increasing by 5 per cent while the rest of the city saw an average increase of 10 per cent.

Estate agents outside the Greater Belfast area said they had not seen as high an increase in property purchases as the 21 per cent suggested by the report.

If you are buying, selling or remortgaging a property in Northern Ireland, and want to speak to a conveyancing solicitor, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.