Jamie Delargy's UTV Business Blog - Housing market still under pressure

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Housing market still under pressure

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Jamie Delargy
Business
House prices have fallen once again according to the Royal Institution of Chartered Surveyors.

It's the 29th month in a row the body which represents estate agents has reported a drop in the cost of buying a home.

Most of those surveyed said they didn't expect prices to rise this Spring.

However there is increasing activity in the housing market and it's expected to continue.

Broadly speaking what's happening in Northern Ireland is the reverse of what is happening across the water.

Over there prices have been rising and the number of deals falling.

Meanwhile figures from the Council of Mortgage lenders show in more detail just how housing market activity is picking up.

Last year there were around two hundred first time buyers a month acquiring property with the help of a loan.

That's now more than doubled top five hundred a month.

However that's less than the half the typical monthly figure that would have been recorded in the early years of the past decade.

More sales are needed in this sector to get the market really moving again.

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At 17:56 on 10 February 2010, Dave wrote:
"More sales are needed in this sector to get the market really moving again." And what do you mean by moving? Rising prices? Is that good?
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