Prices of Northern Ireland Are Not So Hot

Posted 2008-01-7

Northern Ireland’s Royal Institute of Chartered Surveyors (RICS) reports, that prices of houses in Northern Ireland are coming down following the massive growth of house price last year.

The RICS further states that sales should perk up in 2008 though people who want to sell their houses should be more realistic where the price is concerned.

Housing spokesperson for Norther Ireland’s RICS, Tom  McClelland, stated that during 2007 the market has changed quite a bit and one has to be aware that agents have to put in that extra bit to make sales. In addition sellers should be more realistic about the prices that they ask for. This represents the new market.

He further adds this change in the market situation could prove to be beneficial for first time buyers, mainly because there is not so much competition for houses that are within the pricing range of first time buyers.

At nearly 150 pounds a day, Northern Ireland saw the fastest price growth of houses in the UK, at the end of last year.

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