Northern Ireland housing- demand remains high
Monday, September 15, 2014
Speculation about a rise in the Bank of England’s base rate doesn’t seem to be impacting the Northern Ireland housing market the way it is elsewhere, according to RICS.
The latest RICS and Ulster Bank Residential Market Survey for Northern Ireland shows that price momentum and demand remain strong, whilst a softer demand picture is noticeable across the majority of the English regions.
Anecdotal evidence suggests that growing speculation regarding the timing of the first rate rise and increased rhetoric from UK policy makers regarding potential risks in the UK housing market may have had an impact on buyer confidence in England, but not so in Northern Ireland.
A Professional Charted Surveyor Opinion
In terms of prices, Northern Ireland, alongside East Anglia, recorded the strongest price gains in the UK, according to the latest survey, while price momentum in the London market in particular has continued to soften.