Shortly after I landed in the south of England, it struck me that a fairly modest sized detached house in East Dorset was going the same price as some of the biggest, poshest houses in Holywood. Now, with a 25% hike in prices in the last year, the gap is closing. The BBC reports that house prices in Northern Ireland are rising by £600 per week.
Bank of Ireland’s Head of Research in Northern Ireland Alan Bridle, said growth rates were exceptional and were expected to persist, at least for a while. He said: “Tales of limited supply, lengthy queues for new releases and gazumping have been gaining even greater currency in recent weeks. “To give some measure of the scale of house price rises, average prices now at nearly £163,000 have risen by almost £70,000 in just four years.”
Mick is founding editor of Slugger. He has written papers on the impacts of the Internet on politics and the wider media and is a regular guest and speaking events across Ireland, the UK and Europe. Twitter: @MickFealty