Northern Ireland’s house price growth is currently outstripping other countries in the UK, Office for National Statistics figures show.
Prices in Northern Ireland increased by 4% in the year to September, outstripping Wales (2.6%), Scotland (2.4%) and England (1%).
New homeowners are driving the buoyant housing markets in Scotland, Wale and Northern Ireland, taking advantage of low interest rates to get onto the ladder.
Home prices have risen from 3 to 5 per cent in recen years, depending on market segment. The June referendum in which a majority of Britons voted to leave the European Union has not affected the housing market in Northern Ireland.
Attitudes need to change to short-term conacre tenancies, which are damaging Northern Ireland agriculture because they offer no incentive for tenants to invest in the land, according to agricultural valuers.
Northern Ireland is forecast to see the highest house price growth in the UK this year, with the latest report predicting an 11% rise in house values.
The region is likely to see ongoing increases in prices according to the latest residential market survey from the Royal Institution of Chartered Surveyors (RICS) and Ulster Bank.
This is based on a comparative analysis between our price indicator and data from the Office for National Statistics (ONS) while for the UK as a whole the survey predicts that house prices will rise by 6%.
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