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Property prices in Northern Ireland set to outstrip rest of UK in 2015 – 11 January 2015
The Northern Ireland housing market ended 2014 as it began it, with prices and sales rising and surveyors expecting the trend to continue, according to the latest RICS and Ulster Bank survey.
The Royal Institution of Chartered Surveyors expects Northern Ireland house prices to rise by 4% in 2015, which is higher than the expectation of 3% for the UK average.
In terms of prices, December was the 19th consecutive month that the headline price balance at +65 was in positive territory, indicating an increase in prices. The balance of surveyors expect prices to rise in the three months ahead.
‘The local housing market is expected to benefit from the reform of stamp duty, with the large majority of homebuyers here paying less of the tax. This will help encourage activity,’ said Samuel Dickey of RICS Northern Ireland.