Daily Mirror (Northern Ireland)
Space race leads to rising property prices
HOUSE prices in Northern Ireland have continued to rise as the desire to have more space remains a top priority.
That’s the message from estate agent body the Royal Institution of Chartered Surveyors and Ulster Bank in their Northern Ireland Residential Market Survey.
It said December saw an increase in both prices and activity. However, the pace of increase has waned, the study warned, and while expectations among agents for further increases in the next three months remain, they too have been tempered compared to previous recent reports.
RICS chief economist Simon Rubinsohn said the latest lockdown restrictions are expected to dent sentiment despite the market remaining open for business and the expiry of the stamp duty holiday.
But a gradual improvement in the economy and the rollout of the Covid vaccination programme will likely see the upward trend for prices continue.
Samuel Dickey, RICS Northern Ireland Residential Property spokesman, said the market has remained busy.
He added: “Whilst the wider economic environment is challenging with the ongoing pandemic and restrictions, plus the complications from Brexit, the market has continued to be busy.
“People continue to put a high priority on their home and the desire to have more space and access to green space continues to drive many people’s desire to buy or move house. These factors are unlikely to change in the near future.”