UK Money News
10th January 2008
Northern Ireland housing market 'set for success'
The housing market in Northern Ireland is set to continue its successful progress during 2008, according to forecasts from one personal finance institution.
The Royal Institution of Chartered Surveyors (Rics) believes that, while prices across the UK may stay constant or fall slightly as a whole, across the Irish Sea properties are likely to continue performing well.
Tom McClelland, housing spokesperson for Rics Northern Ireland, said that recent alterations in the market could see first-time buyers reaping the benefit of declining demand from other sectors.
"With investor activity having declined, there is less competition for properties in the sector of the market within the first-time buyer's price range," he explained.
The finance news follows figures from Nationwide that suggest Northern Ireland saw the biggest gains in property values last year - increasing by 24.2 per cent.
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