North Downs average of £243,191 was down by 12.9%
on the last quarter 07, but up 20.2% over the year.
The latest University of Ulster Quarterly House Price Index, produced in partnership with Bank of Ireland and the Northern Ireland Housing Executive, confirms the slowdown in annual growth rates and an actual quarterly fall in prices between the third and fourth quarters of 2007.
According to the reports authors - Professor Alastair Adair, Professor Stanley McGreal and Mrs Louise Brown of the University of Ulster the fourth quarter survey showed a housing market in transition.
Mrs Brown said: Although price levels are still significantly higher than at this stage last year, the final quarter of 2007 saw prices levels come down and the volume of transactions fall, particularly in the second-hand market.
The Universitys survey is the broadest-based and most authoritative of all those undertaken in Northern Ireland and covers some 117 estate agencies.
The Index, the most comprehensive survey of local residential
property sales, which is produced in partnership with Bank of
Ireland and the Northern Ireland Housing Executive, showed that
priced growth slowed from 51% in the second quarter to 40% in
the third quarter 2007.
Professor McGreal said: There has been a clear change of sentiment reflected not only by the reduced rate of growth but a significantly lower sales volume, down by a third compared to the same quarter in 2006.
In essence, there are still high price levels but much lower growth rates and considerably reduced sales activity.
The Ulster survey is the broadest-based and most authoritative of all those undertaken in Northern Ireland. Its covers some 115 different firms of estate agents ranging from the largest to the smallest.
Bank of Irelands Head of Research in Northern Ireland, economist Alan Bridle, said: While the market temperature has obviously cooled, the analogy of the balloon going "hiss" rather than "pop" seems most appropriate.
Trading Standards Service is to promote and maintain fair trading, and protect consumers
Consumerline is a telephone and online consumer advice service for Northern Ireland.
"Our telephone advisors will listen to each caller's query and provide clear, practical advice on a wide range of consumer issues."
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Groomsport residents raised a number of issues of concern in the questionnaire circulated by the Village Association earlier this year. The Committee brought these issues to an inter-agency meeting in April and a second follow-up meeting in June. more.....
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Use the Nationwide Houseprice Calculator to see what your house is worth today
The traditional way to sell your home is via an
Estate Agent. Please remember though that estate agents' fees
are normally between 1.5 and 3% of your property's sale price.
So, if your house sells for say £250,000, you will pay them
anything from £3,750 - £7,500 in commission.
Increasingly, homeowners are making use of the Internet to find
a buyer.
With the internet, it's never been easier to sell your home. As
more and more people decide to sell their property privately,
property websites are invaluable in reaching thousands of potential
buyers. In fact over 70% of home sales originate from an internet
search.
There will still be people in the area who don't have Internet
access. Putting a For-Sale board outside your property will attract
the interest of these people. For-Sale boards are often supplied
as part of an Internet selling package.
Related Links:
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