The housing market in Northern Ireland continued to head higher over the last three months despite rising interest rates and concerns around the cost-of-living crisis.
That is according to residential property body the RICS (Royal Institute of Chartered Surveyors) which surveyed its estate agent members, the majority of which said prices rose in the last quarter. However, signs of a slowing market are beginning to emerge, particularly in the outlook for future months.
A majority of agents expect the market to ease in the next three months, although those in Northern Ireland aren’t as pessimistic as their peers in the rest of the UK. Meanwhile, demand has eased to the lowest level since June 2020 when the market was in the midst of the coronavirus pandemic, while the number of transactions has also fallen.
