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House prices up to levels of 10 years – 21 June 2014

House prices here have risen 8.4%, although they’re half the level they were at their peak.

All UK regions saw annual prices rises, with London continuing to lead with an annual growth of 26%.

The figures were released in the Nationwide Building Society House Price Index report.

Commenting on the report, William Liddell, area director for Templeton and Robinson estate agents, said: “I would suggest that in parts of Belfast, the south, south east and east, we are probably back to about 2004/2005 prices.

“However, there would certainly be room for improvement and activity in other areas of Belfast, and along the periphery of Belfast.

“Demand is outweighing supply at the moment, hence prices appear to be moving up in some cases.

“If in the next six or 12 months more properties come on to the market because people see that the market is moving on, and supply starts to balance with demand, then possibly the price increases will slightly slow down, but that won’t be a bad thing.