House prices are continuing to rise in Northern Ireland despite cooling demand for homes, a new survey has shown.

A majority of surveyors said house prices increased in Northern Ireland during June, but there are also indications the market has “slowed slightly”.

That’s according to the latest RICS (Royal Institution of Chartered Surveyors) and Ulster Bank Residential Market Survey for June,

A small proportion of those surveyed said new buyer enquiries were up during the month – the lowest this figure has been in the past two years.

“Despite this cooling demand, house prices continued to rise firmly, in part linked to a lack of supply in the market,” the report says.

“House prices are expected to rise throughout the next quarter of the year too, according to a net balance of +42% of respondents. And despite the cooler demand in June, respondents expect sales to increase over the next three months as well.”

According to the report one of the biggest factors impacting the market “continues to be the lack of properties, although there is perhaps an indication in the latest report that this is easing”.

 

 

Article sourced from Belfast Telegraph on July 19^th  Original full article can be viewed by clicking link below

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