House prices up as market 'normalises'

House prices up as market 'normalises'

Finance Minister Simon Hamilton has welcomed the latest housing market figures which show rising prices and an increase in the number of properties sold.

Over 4,800 residential properties were sold between April and June, according to Wednesday's report from the Land and Property Services (LPS) and Northern Ireland Statistics and Research Agency.It represents a 25% rise in sales compared to the same period last year.The study, which examines every sale in NI from HM Revenue and Customs and LPS data, added that prices have gone up by 4% between the first and second quarters of 2014 and by 10% since April 2013.Simon Hamilton said he is encouraged to see the housing market become increasingly active."Residential property prices have increased by 4% from the previous quarter. This steady upward trend is a further indication that the property market here is stabilising," the DUP minister said."The report shows that the increase applies in both urban and rural areas. This positive change tells us that the market right across Northern Ireland is continuing to show signs of recovery."He continued: "Today's report shows further encouraging signs that the housing market in NI is a much more normalised picture. This is particularly good news for first time purchasers and those who are seeking to move up and secure value for money in a much more stable market."Most comprehensive stats show house prices up 10% yr. on yr. in Q2. Now 1% higher than Q1 2005. Check it out here http://t.co/KXBDeNW0yI— naomi mcmullan (@naomi_utv) August 20, 2014

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