Home prices to fall in Northern Ireland

Published 12 January 2012

Residential property prices are expected to fall in Northern Ireland during the first three months of 2012, a survey from the Royal Institution of Chartered Surveyors shows. House Prices in Northern Ireland have been either stable of falling since the market peaked in August 2007.

Tom McClelland, RICS, said Europe's financial difficulties and public spending cuts could have an impact on the NI market. "I expect the Northern Ireland housing market to continue to experience large variation with some geographical areas and property types having significantly different experiences," he said.

"I would also expect that those who price their houses in line with the realities of the market will continue to achieve sales. Recent auction results, for instance, show relatively low selling prices but relatively bullish activity."