NI house prices ‘could take 10 years to recover’

NI house prices                                                                                                                                  Source Image: BBC News

The report suggested property prices in Northern Ireland will rise by almost 5% this year.

Property prices in Northern Ireland could take at least 10 years to recover to what they were before the market collapsed, according to a report.

Business services firm PricewaterhouseCoopers (PwC) said that prices are still around half of their peak values in August 2007.

This despite a recent “modest recovery” in prices.

Average prices in Scotland are 5% below peak and 3% in Wales.

PwC said Northern Ireland’s “depressed” property market, high levels of negative equity and low levels of disposable income mean a slower economic recovery compared to the rest of the UK.

The report also suggested house prices in Northern Ireland will rise by almost 5% this year.

However, it expected growth to slow towards 2020 meaning it could be at least 2024 before prices return to boom time levels.


Back to Blog

Free Consultation

Your first consultation with us is completely free and you are under no obligation to proceed with us. However, it involves a thorough financial review and a tactical assessment of your various alternatives. We are assured you will leave the meeting with a clear understanding of your options and possible outcomes.

Specialist, Impartial Advice

Bell & Company is not allied to any financial institutions, agencies or outside bodies. This is one of our greatest strengths. It means that, unlike others, we are able to provide impartial advice that is in each client’s best interest and to operate scrupulously on their behalf, free of outside interference.

Chat iconCall us now on 0330 159 5820