Belfast Telegraph

More housing market recovery signs

Northern Ireland's battered housing market is showing further signs of recovery, figures have indicated.

A majority of surveyors reported that prices roses in August - the third successive month of upward movement - according to the latest study by the Royal Institute of Chartered Surveyors (RICS) in conjunction with Ulster Bank.

The extent to which the suggested upturn will continue through into autumn and winter remains in doubt however, as only 7% of the professionals questioned said they expected prices to rise in September, October and November. The remainder anticipated prices to stay the same over the coming three months.

A majority of surveyors reported a rise in transactions over the summer with a significant number also predicting volumes to swell further in the autumn.

RICS Northern Ireland housing spokesman Tom McClelland said it had proved a positive summer for the housing market.

"Whether this sunny disposition can be sustained into the autumnal months remains to be seen," he added.

"But we remain of the view that although there will inevitably be seasonal variations and bumps along the way, the market remains on course for a general improvement over the year as a whole."

Derek Wilson, head of lending products at Ulster Bank, said: "There is continuing evidence that confidence in the housing market is increasing and we want to continue playing our part in supporting further demand and growth."


From Belfast Telegraph