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Northern Ireland housing market outpacing other UK regions: survey

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Terry Robb

Terry Robb

Terry Robb

Northern Ireland’s housing market is outpacing the rest of the UK as prices and sales continue to rise, a new survey has said.

Prices, enquiries, instructions, and sales indicators in Northern Ireland were all higher than the UK average in June, according to the latest RICS and Ulster Bank NI Residential Market Survey.

But while a greater number surveyors still predict a rise in sales during the summer, that number has fallen from May.

And expectations for price, while still very strong, have been moderating over recent months too. A net balance of 60% of respondents expects prices to rise over the net quarter compared to a net balance of 75% in April.

“June ended a very busy first half of the year for the Northern Ireland housing market and it was another month when new buyer enquiries and newly agreed sales were strong,” Samuel Dickey, RICS Northern Ireland residential property spokesman, said.

“Encouragingly, surveyors are also reporting that instructions to sell were higher, which should help ease supply issues, which in turn should support sales activity and help ease price pressures.”

And Terry Robb, head of personal banking at Ulster Bank, said: “We know that there is strong demand in Northern Ireland to own or move home, and we are working to support customers with their homebuying aspirations. That’s why Ulster Bank is introducing NatWest’s mortgage product offering for customers in Northern Ireland.”

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