![\"Samuel](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/b8dc63e8-e6f3-4164-9ad6-1f6eab366321.jpg\")
<\/p>\nThe latest monthly research by the Royal Institution of Chartered Surveyors (RICS) found optimism about prospects for the housing market among its members in Northern Ireland. <\/p>\n
The report of rising sales in July reversed two consecutive months of falling sales reported in May and June.<\/p>\n
A net balance of 5% of NI surveyors reported that sales rose throughout the month of July \u2013 a significant improvement from the previous two surveys.<\/p>\n
But at a net balance of 60%, much stronger numbers were optimistic on the outlook for sales, and expected sales to rise in the next three months.<\/p>\n
Surveyors also reported an increase in demand during July, with a net balance of 40% reporting an increase in new buyer enquiries. That was the second-highest balance seen across the UK after the north-west of England. <\/p>\n
Supply had also improved in July, with a net balance of 40% reporting new instructions to sell during the month, similar to levels seen in Scotland, the north-west and East Midlands.<\/p>\n
And respondents in Northern Ireland were reporting a rise in prices in strong numbers, with a net balance of 95% reporting increasing prices in the last few months.<\/p>\n
That trend is expected to continue, with surveyors anticipating that prices will go up in the next three months. <\/p>\n
Increased housing market activity is expected as a result of the Bank of England\u2019s decision last week to cut interest rates from 4.25% to 4%.<\/p>\n
<\/p>\n
Samuel Dickey, RICS Northern Ireland residential property spokesman<\/p>\n
Samuel Dickey, RICS Northern Ireland residential property spokesman, said: \u201cThe first half of 2025 was relatively steady for NI\u2019s residential property market and it\u2019s encouraging to see this continuing as we progress into the second half of the year.<\/p>\n
“Whilst the most recent survey sees surveyors reporting a rise in supply coming to the market, we still do not have sufficient stock to meet the needs of the market.<\/p>\n
“It is hoped that the recent easing of interest rates will support new buyers in the coming months.\u201d<\/p>\n
UK-wide, RICS reported that new home buyer enquiries had fallen back in July.<\/p>\n
A net balance of 6% of property professionals reported new buyer enquiries falling rather than rising in July, indicating a softening in demand compared with the previous month.<\/p>\n
Simon Rubinsohn, RICS chief economist, said the UK market may be feeling the impact of fears about the autumn Budget: \u201cThe somewhat flatter tone to the feedback to the July RICS residential survey highlights ongoing challenges facing the housing market. <\/p>\n
“Although interest rates were lowered at the latest Bank of England meeting, the split vote has raised doubts about both the timing and extent of further reductions.<\/p>\n
“Meanwhile, uncertainty about the potential contents of the Chancellor\u2019s autumn Budget is also raising some concerns.<\/p>\n
“Against this backdrop, respondents continue to report that the market remains particularly price sensitive at the present time.\u201d<\/p>\n
Francis Grimley a mortgage and protection adviser with the Mortgage Shop in Belfast, told Belfast Telegraph last week: \u201cFirst-time buyer activity has been frenzied throughout 2025, and this latest rate drop is likely to intensify demand further,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"The latest monthly research by the Royal Institution of Chartered Surveyors (RICS) found optimism about prospects for the…\n","protected":false},"author":2,"featured_media":343055,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5011],"tags":[6333,778,1144,16,15],"class_list":{"0":"post-343054","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-northern-ireland","8":"tag-housing","9":"tag-margaret-canning","10":"tag-northern-ireland","11":"tag-uk","12":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115025475490600213","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/343054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=343054"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/343054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/343055"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=343054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=343054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=343054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}