Report said material shortages and inflationary pressures within the construction sector have ‘eased to a moderate level’
There was a 10 per cent increase in the number of houses sold in Northern Ireland in the second quarter of this year compared to the previous three months as activity reached its highest level in more than two years.
The average house price rose 2.5 per cent to £211,225 , which was the highest since the same quarter in 2008. That figure represented a 2.6 per cent increase from the previous quarter and a 2.5 per cent increase year-on-year. Lead researcher Dr Michael McCord of Ulster University said the period saw “increasing momentum within the housing market as interest rates have stabilised”.
“This house price growth looks to continue over the remainder of 2024 as supply constraints and a reduction in new build activity continues to impact on market activity.”
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