1. ITV Report

NI housing market ‘buoyant in August’

RICS said NI is performing better than other UK regions. Photo: UTV

The housing market in Northern Ireland remained “buoyant” in August compared to other UK regions, a survey has said.

According to the Royal Institution of Chartered Surveyors it follows the trend in the wider economy, with key indicators reporting that local business activity grew strongly last month.

NI recorded the strongest growth across the UK for house prices, with respondents also more upbeat on the outlook, RICS said.

However surveyors said anecdotal evidence suggests there is a divergence between the upper and lowers ends of the market, with a stronger picture below £250,000.

Samuel Dickey of RICS added: "Overall, the latest survey points a positive picture in terms of the trajectory of activity and the outlook.

“As ever, though, there are markets within markets.

“Different parts of Northern Ireland are more buoyant than others and there are variations between different property types and levels of the market.

“The latest NI Residential Property Price Index highlights this, with new build homes rising significantly faster than that of existing or resold housing stock, and average prices in rural areas up 6.3% in the past year, compared to 3.7% for urban areas."