NI house price rise

Published:  17 November, 2009

BELFAST: Average house prices in Northern Ireland rose 3.3% to £164 107 in the three months from September the University of Ulster said in a report.

Alan Bridle, head of research at Bank of Ireland, said in yesterday's report: "The overall climate for housing remains challenging."

On an annualised basis, house prices have fallen 19.2%, the report said. Northern Ireland's economy has been hit by a property slump while recession has cut export demand.

In October, the unemployment rate, which almost doubled in the past year, remained unchanged for the first time in 20 months.

"While the end of the recession may be in sight, the legacy of a difficult economic and financial backdrop will remain," Mr Bridle said.

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