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NI housing market to remain strong in 2018.

Posted on 04 January 2018
NI housing market to remain strong in 2018.

According to the Royal Institute of Chartered Surveyors (RICS), the Northern Ireland housing market is likely to continue to grow over the next 12 months.

The most recent RICS survey reported that a majority of surveyors in Northern Ireland were expecting prices to continue to rise and sales volumes to increase.

The RICS market survey also showed that house prices experienced moderate growth in the last three months of 2017.

Samuel Dickey, residential property spokesman at RICS, said; “We continue to see a relatively upbeat picture being painted of the Northern Ireland housing market, and surveyors anticipate that this will continue into 2018, albeit that there are some challenges for the market, including limited supply, alongside rising inflation and the fact that interest rates are edging upwards.

“What is clear, though, is that Northern Ireland’s housing market continues to display more positive sentiment than the UK average, with most other regions seeing both prices and activity flat or falling.”

Sean Murphy, managing director of personal banking at Ulster Bank, added; “The latest Ulster Bank PMI indicates that the local economy continues to perform relatively well, with business activity rising and companies continuing to recruit new staff.

“So, it is not surprising that the local housing market remains relatively buoyant.

“Indeed, at Ulster Bank, we continue to see good mortgage demand and strong interest from homebuyers, home movers and those looking to remortgage.”

With house prices continuing to rise and demand for properties remaining strong across Northern Ireland, this is a great time for anyone planning on selling their home to take advantage of the favourable
market conditions.

So, if you’re based in Belfast or anywhere else across Northern Ireland and thinking about selling a property, take a look at our website or visit us in one of our branches in Templepatrick or on the Lisburn
Road in Belfast and find out how we can help you make get the best possible deal for your home.