Ireland: Upward Trend in Property Values Reported by Surveyors in April
Surveyors in Ireland point to upward trend in property values in April. Housing demand remains high but market lacks sufficient stock to meet interest.
Northern Ireland's property market has shown resilience in the face of economic challenges, with a continued upward trend in property values. According to a recent survey conducted by the Royal Institution of Chartered Surveyors (Rics), 66% of respondents reported an increase in property prices over the past three months. This is in stark contrast to the UK average of minus-5%.
However, despite the positive news on property values, there has been a slowdown in agreed sales in April. Both supply and demand levels have eased, leading to a decrease in home sales. The survey revealed that a net balance of 15% of property professionals reported a decline in new buyer inquiries in April, marking a more subdued market compared to previous months.
Looking ahead, there is optimism among Northern Ireland respondents, with a balance of 42% anticipating further price increases over the next three months. An overwhelming 86% expect prices to be higher in 12 months, indicating confidence in the long-term growth of the property market.
While Northern Ireland's property market has seen a slowdown in sales, the overall outlook remains positive with expectations of continued price growth in the short and long term.
Ireland: Upward Trend in Property Values Reported by Surveyors in April
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