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Press release

9 NOV 2017

NI house prices to rise into next year

Northern Ireland surveyors are optimistic about the housing market into 2018, the latest RICS and Ulster Bank Residential Market Survey suggests.

View and download the survey

House prices rose in October according to the balance of local respondents and they expect both prices and sales activity to increase in the three months ahead.

Looking further ahead, Northern Ireland surveyors are also positive about the prospects for house prices over the next 12 months, in contrast to respondents from most other UK regions.

However, Northern Ireland surveyors continue to report that a lack of housing stock is a challenge for the market. Indeed, new instructions to sell were broadly flat in October.

Main findings

  • The headline price balance for Northern Ireland was +38% in the latest survey, meaning that 38% more surveyors said that prices rose in the past three months than those who said they fell.
  • The price expectations balance, at +31%, remains positive and above all other UK regions. Meanwhile, sales expectations data (+18%) is also the most positive in the UK.
  • However, data for newly agreed sales (-5%), new buyer enquiries (+3%) and new instructions (+3%) were all broadly flat.