New figures have revealed a slight drop in the number of house sales agreed in Northern Ireland in May, despite a rise in enquiries from potential buyers and sellers.

The latest survey by the Royal Institution of Chartered Surveyors and Ulster Bank found anecdotal evidence some buyers were adopting a 'wait and see approach'. The general election was also a factor.

In terms of prices, the balance of surveyors reported an increase in the May survey. Surveyors also expect prices to continue to edge up in the three months ahead.

-- Advertisement --

RICS Residential Property Spokesman, Samuel Dickey, says: "Surveyors are reporting an increasing number of potential buyers and potential sellers coming to the market, and expect this to translate into increased sales activity in the months ahead, despite an easing back in May. It is particularly encouraging to hear reports of more properties coming onto the market, which should help ease some of the supply issues that have long prevailed."

Sean Murphy, Managing Director of personal banking at Ulster Bank said: "We continue to see a good flow of mortgage interest, in line with the latest RICS figures which show a rise in new buyer enquiries. Buying or moving home remains an attractive option for many people, as, despite rising prices, buying in Northern Ireland remains relatively very affordable. We see evidence that people retain a strong desire to own their own home."

(CD/LM)