Home buyers facing stiffer competition as north's housing stock dwindles – The Irish News

PROSPECTIVE home buyers in the north face stiffer competition and higher prices for new properties coming on the market.

A new survey conducted among Northern Ireland property professionals suggests the number of new homes listed for sale here continued to fall during September, pushing prices up further.

The research carried out the Royal Institute and Chartered Surveyors (Rics) and Ulster Bank, said the reduced choice for buyers resulted in fewer agreed sales last month.

It follows an in-depth report from PropertyPal last week, which found the number of homes for sale in the north during the third quarter of 2021 was 44 per cent below pre-pandemic levels, with fewer than half of rental properties now available compared to 2019.

The competition continued to drive prices up further in September, according to the Rics survey, with virtually every respondent reporting rising prices last month.

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