NI house sales down 18 per cent in first nine months of 2023
House sales in Northern Ireland declined by 18 per cent in the first nine months of this year, according to official figures.
Data from HMRC indicated that there were 17,410 transactions up to September, as compared with 21,300 in the same period last year.
Rising interest rates have cooled housing demand across the UK. The third quarter of this year was the busiest but was still down 15 per cent compared to last year.
The third quarter saw some 6,400 sales, a drop from last years’s figure of 7,520.
In the second quarter of the year, the official House Price Index recorded a 1.4 per cent increase in sales as compared to the first quarter, giving an average price of just under £174,000.
House prices were also 2.7 per cent higher than in the same period in 2022.