Northern Ireland’s house prices up due to supply shortages
New research suggests that Northern Ireland’s residential property supply has continued to decline since the beginning of 2017, prompting house prices to rise.
The latest market survey by the Royal Institution of Chartered Surveyors (RICS) and Ulster Bank residential say the lack of properties being put onto the market for sale and a shortage of new homes being built has caused a market stagnation, which is a real cause for concern.
Many members of RICS felt property prices increased in January and believe they would continue to do so during the next quarter.
RICS forecast that house prices will rise by around 3% this year.
Full story available from PropertyInvestorTODAY: https://www.propertyinvestortoday.co.uk/breaking-news/2017/2/supply-shortage-pushes-northern-irish-house-prices-up