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Average house price in NI is now £185,386

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An imbalance between supply and demand for properties remains the primary reason behind the climb

An imbalance between supply and demand for properties remains the primary reason behind the climb

An imbalance between supply and demand for properties remains the primary reason behind the climb

The average house price has risen for the 11th consecutive month across the UK — with Northern Ireland top for annual house price inflation.

House prices increased by 1% in May, with the average UK house price record set again, now £289,099.

Across the UK, the typical property value increased by £2,857 month on month in May, Halifax said.

Northern Ireland topped the table again this month for annual house price inflation, seeing prices rise by 15.2%, equating to an average of £185,386.

An imbalance between supply and demand for properties remains the primary reason behind the climb, the report continued.

Meanwhile, the Royal Institution of Chartered Surveyors (Rics) reported exceptionally strong growth in Northern Ireland.

Samuel Dickey, RICS Northern Ireland residential property spokesman, says: “Demand is still outstripping supply, a pattern that we’ve seen for many months now.

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“In saying that, more vendors do seem to be coming to the market, and it’s encouraging to see surveyors expecting a rise in sales.

“More stock will assist in addressing the persistent issue of limited supply for prospective buyers.

“This limited stock has been maintaining strong house prices across all categories,” Mr Dickey added.


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