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Although a third of local estate agents are reporting falling house
values, Northern Ireland's house prices are said to be becoming more
stable.
This glimmer of hope in a previously 'free-fall' market
comes from the latest survey prepared by the Royal Institution of
Chartered Surveyors.
It shows a marked improvement on earlier in
the year and even though 32% of estate agents said prices were falling,
around 8% reported a rise.
Sixty percent of those who responded to the Ulster Bank sponsored survey said prices remained static.
RICS
Northern Ireland Housing Spokesman, Tom McClelland, said: "The RICS
Housing Market Survey has shown a general trend of stabilising prices
over the past six months or so.
"However, with some surveyors
now reporting price rises and others still reporting falls, it is clear
that there are still variations in the market".
Overall, Mr
McClelland said the outlook on house prices was positive in the near
term, but cautioned: "There will be significant challenges for the
economy and the housing market - not least the prospect of very large
cuts in public spending.
"We also wait to see the extent to which NAMA impacts on the local market," he said.
Source: build.ie
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