Northern Ireland

NI house price survey shows ninth month of rises

For sale signs Image copyright PAcemaker
Image caption House prices in NI have risen for the ninth consecutive month, according to RICS and Ulster Bank

House prices in Northern Ireland have risen for the ninth month running, according to research.

The survey by the Royal Institution of Chartered Surveyors (RICS) and Ulster Bank found that prices, on average, rose in February - as they have done every month, since last June

Two thirds of respondents to the survey said prices had risen in the three months to the end of February.

One third said prices had stayed the same.

Samuel Dickey of RICS said: "The trajectory of house prices in Northern Ireland is continuing to broadly align with the wider economic picture, as a range of indicators are pointing to positive growth.

"The evidence is that overall transaction levels are also picking up, something that we expect to see continuing into the spring and summer months, when the market is traditionally busier.

"Whilst the picture across the Northern Ireland housing market is varied, with some geographical areas having better experiences than others, we also expect average prices to rise in the months ahead, and about 4% over the course of this year."

At a UK level, the cost of a home continued to rise during February, albeit at a slightly slower pace than in previous months.

Last month, 45% more UK chartered surveyors saw prices rise rather than fall.

The cost of a home has now risen in the UK for 11 consecutive months.

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