Northern Ireland property prices to go up by 4 per cent

By Christine Farrell

The average property price in Northern Ireland will increase by 4 per cent in 2014 according to a spokesman for the Royal Institution of Chartered Surveyors (RICS).

Samuel Dickey says that the recovery of the property market by the end of 2013 has carried through to the new year, and that they expect to see the average house price across Northern Ireland increase by 4 per cent before the end of 2014. The property markets across the different regions of Northern Ireland are experiencing mixed fortunes, with most activity involving houses in Belfast - the recent University of Ulster quarterly house price index suggests that 4 out of every 10 properties bought in Northern Ireland in the last quarter of 2013 was in Belfast.

North Down is the most expensive region to buy a property with an average house price of £171,829 - 73 per cent higher than the average property price in Londonderry/Strabane which is the lowest priced region.

There are concerns that a lack of supply of houses will soon inflate prices. January 2013 saw the least amount of houses being marketed for sale in the UK since July 2012.

If you are buying, selling or remortgaging a house in Northern Ireland, and require a property conveyancing solicitor in Belfast to handle the legal process for you, contact Wilson Nesbitt by calling 0800 840 9290.

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