Bucking the trend across the UK as a whole Northern Ireland house-hunters came out in force in what is perceived to be a good value market, according to the latest RICS (Royal Institution of Chartered Surveyors) and Ulster Bank Residential Market Survey.
Newly agreed sales in the north rose at the fastest rate in four months, according to the survey, and respondents expect the number of sales to continue increasing in the quarter ahead.
“Nine out of 10 respondents say that the Northern Ireland housing market reflects fair value, which is not the case in other parts of the UK; notably London and the South East. The fact that the market is so much more affordable here is a key factor in the more buoyant activity, coupled with the continuing relatively strong economic conditions,” RICS residential property spokesman, Samuel Dickey said.
Sean Murphy, managing director, personal banking at Ulster Bank added: “The first quarter of the year was a positive one for the Northern Ireland housing market, with prices, sales and instruction each rising again in March, and surveyors expect this to continue.”