Northern Ireland house prices are the most confident in the UK after five years of growth and a prediction of further growth. An Ulster Bank & Royal Institution of Chartered Surveyors (RICS) survey of the residential market suggests that these figures do not match the peak of 2007.
A further study from the Land & Property Services of NI states that £132,795 was the standardised price for properties in Q2 of 2018. However, this price is still below the market peak of £216,751 in 2007.
Throughout the rest of the UK, it is clear that the increase in interest rates from the Bank of England of 0.25% has put some buyers off buying a new home.
Mark Carney Governor of the Bank of England announced this week that he will stay within his role until January 2020. This extended term is hoped to help support the UK throughout Brexit.