Sales volumes continue to operate at higher levels with transactions up 8% compared to the same quarter in 2019. However, activity has cooled in recent months with sales activity down 25% compared to peak levels in late 2020. Price growth has also moderated over the last few months but still remains high, particularly for larger properties and across high demand areas in N.Ireland. The mortgage market is improving each month with greater availability of deals at lower rates of interest. Heightened concerns of rising inflation may lead to interest rate rises sooner than markets expect, which in turn will suppress demand across the housing market.
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Last modified: 12/08/2022