Tuesday, Dec 05, 2006

NI propert market growing by a third, in an 'unprecedented boom'

University of Ulster: Annual House Price Rise Now 32% - UU Survey

House prices in Northern Ireland are now rising at more than 32% a year, according to the most comprehensive survey of local residential property sales. Some property types in some areas, notably Lisburn, are going up at rates of up to 65%.

Posted by jellycaster @ 04:07 PM (502 views)
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5 Comments

1. C'mon Correction said...

How many UK property reports that have come out over the last six months include NI in their stats? Shows how skewed the 'national average' stats are. Take out a few places like NI and parts of South East England, parts of Scotland - and the rest of the country looks like it's just keeping up with inflation at best !

Any Mortgage Lender/ Estate Agent company can cherry pick stats to make national average price rises for a property price report.

Tuesday, December 5, 2006 07:28PM Report Comment
 

2. Nohpc said...

Even I will admit that this is over bullish sentiment. 65% increase in some areas? It will be interesting to see what happens here but it is certainly a completely different market to the rest of the UK. It is possible they are just playing catch up and once they have caught up prices will level out but surely at this rate of increase they will overshoot.

Tuesday, December 5, 2006 07:33PM Report Comment
 

3. inbreda said...

If it acts like a bubble and picks its nose like a bubble....

If people think prices can rise by 65%, why does nobody believe they can fall by the same?

Tuesday, December 5, 2006 11:20PM Report Comment
 

4. 9swampy said...

Selling my 3 bedroom semi exLA complete with a decent garden & carport parking in NI atm would barely finance a lower floor one bedroom exLA tower block flat in a dodgy area of London so it's maybe not as insane as you might think... but have to agree with the sentiment on the site... this is going to be painful when it turns! When when when when when? I'm forever blowing bubbles...

Tuesday, December 5, 2006 11:51PM Report Comment
 

5. Headmelter said...

There's also a couple of booby traps set to detonate over the next 2-3 years.
Water charges
New rating system which will innevitabley mean higher charges.

2008/09 will be very interesting.

Wednesday, December 6, 2006 02:49AM Report Comment
 

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