NI house sales rose in August

The number of house sales rose in August in Northern Ireland, surveyors said.

The number of house sales rose in August in Northern Ireland, surveyors said.

Pent-up demand and the stamp duty holiday influenced the market, according to the Rics and Ulster Bank NI Residential Market Survey.

Samuel Dickey, Rics Northern Ireland residential property spokesman, said: "The latest survey provides firm evidence of a strong uplift in activity in the NI housing market over recent months which should help support the wider economy.

"Less welcome for many is the pick-up in prices which could intensify issues around affordability, however this is less of an issue in Northern Ireland than elsewhere in the UK."

Strong growth in agreed sales was cited for a second successive month.

The pandemic is expected to cause a lasting shift in the desirability of certain property characteristics in the UK, the survey showed, as 83% of those who responded anticipating demand increasing for homes with gardens over the next two years.

79%

Percentage of estate agents who've predicted rising demand for properties near green space

The survey suggested Northern Ireland's house price growth indicator had hit a five-year high.

The house price growth indicator was the highest in the UK.

The Northern Ireland economy "has entered or is entering recession" according to a separate survey by Ulster Bank.

Output fell for the sixth month in a row.

Northern Ireland reported the sharpest contraction in business activity of any UK region.