House prices rising


House prices in Northern Ireland continue to rise as Northern Ireland slowly edges closer to prices across the rst of the UK, according to the latest RICS and Ulster Bank residential market survey.

Though there has been a rise in the number of properties coming onto the market, prices here remain well below the pre-crisis high.

Contributing to the increase, demand from potential buyers continued to rise in October with 19 per cent more respondents seeing a rise in new buyer enquiries.

“Sales activity picked up in October, with strong prices being achieved across the board,” said RICS Northern Ireland spokesman Samuel Dickey.

“Longer term predictions show a growth in transaction and hopefully this will be matched with an increase in properties coming on to the market.

“We continue to see new instructions falling short of new buyer inquiries and this is the main driver of prices increases throughout Northern Ireland.”

Derek Wilson, head of lending products at Ulster Bank said: “Mortgage lending in Northern Ireland picked up in the second quarter of the year according to the latest figures from the Council of Mortgage Lenders, and our experience at Ulster Bank is that the third quarter saw a further increase in activity.”