House prices in Northern Ireland are continuing to strengthen despite higher interest rates and inflationary pressures, two influential reports have indicated.
The monthly survey from RICS (the Royal Institute of Chartered Surveyors), which reports sentiment from agents, said the pressures are likely to be to blame for a fall in new buyer demand, sales, and listing but prices are still edging higher. It said the balance of surveyors reporting an increase in prices had actually increased moderately in February month-on-month, leaving Northern Ireland one of only two regions in the UK to experience an hike.
Meanwhile, the Halifax House Price Index showed annual house price growth stood at 5.7% in February, down slightly from the 7% reported in January but still representative of gains. It pegged the average price of a house at £185,009. That compares to around £163,000 in the north east of England, up 1.1% on the year, and £526,842 in London, down 0.9% on the year.
