Latest News:
- September Auction News: Despite August typically being a quieter month due to h...read more
- August Auction News: The UK property auction market has been a hive of activity over the past year, and our latest figure...read more
- EIG News February 2020: February 2020 Newsletter ...read more
- EIG News December 2019: 1184" width="100%" cellspacing="0" cellpadding="0" border="0"> "Times New...read more
- EIG News November 2019: November 2019 Newsletter ...read more
- EIG News October 2019: October 2019 Newsletter ...read more
- EIG News September 2019: September 2019 Newsletter ...read more
- EIG News August 2019: Welcome to the August newsletter that looks back at auction activity in July and preceding periods....read more
- EIG News July 2019: Essential Auction News Welcome to the July newslette...read more
- EIG News June 2019: Essential Auction News Welcome to the June newsletter that looks back a...read more
- EIG News May 2019: Essential Auction News Welcome to the May newsletter that looks back at...read more
- EIG News April 2019: National Auction Analysis The number of residential lots offered and sold dropped by 22% in March...read more
- EIG News March 2019: National Auction Analysis Both sectors of the UK auction market experienced notable falls between...read more
- EIG News February 2019: Essential Auction News Welcome to the February newsletter that looks ba...read more
- EIG News January 2019: January 2019 Newsletter ...read more
- EIG News December 2018: December 2018 Newsletter ...read more
- EIG News November 2018: Essential Auction News Welcome to the November newsletter that looks ba...read more
- EIG News October 2018: Essential Auction News Welcome to the October newsletter that looks bac...read more
- EIG News August 2018: August 2018 Newsletter ...read more
- EIG News July 2018: Essential Auction News Welcome to the July newsletter that looks back a...read more
- EIG News May 2018: May 2018 Newsletter ...read more
- EIG News April 2018: Essential Auction News ...read more
- EIG News March 2018: March 2018 Newsletter ...read more
- EIG Auction News February 2018: February 2018 Newsletter ...read more
- EIG Auction News: Essential Auction News Welcome to the November newsletter that looks back...read more
- EIG Monthly Newsletter October 2017: Essential Auction News Welcome to the October newsletter that looks back ...read more
- EIG Monthly Newsletter September 2017: September 2017 Newsletter ...read more
- EIG Monthly Newsletter August 2017: August 2017 Newsletter ...read more
- July 2017 Newsletter: Essential Auction News Welcome to the July newsl...read more
- EIG Monthly Newsletter April 2017: Essential Auction News ...read more
- EIG Monthly Newsletter February 2017: February 2017 Newsletter ...read more
- January 2017 Newsletter: January 2017 Newsletter ...read more
- Residential Market Survey December 2016: Residential Market Survey Rics Ulster BankCHARTERED surveyors have claimed house sal...read more
- December 2016 Newsletter: December 2016 Newsletter ...read more
- EIG Monthly Newsletter October 2016: October 2016 Newsletter ...read more
- EIG September News: September 2016 Newsletter ...read more
- Auction Data for May 2016 Double-digit growth when comparing May 2016 with May 2015: Monthly News Update Overall Statistics May 2016 ...read more
- Advice on Stamp Duty Land Tax In Northern Ireland: Stamp Duty Land Tax is a percentage paid on the purchase of a home or non-residential property to th...read more
- Auction Data for November 2015: Monthly News Update Overall Statistics November 2015 ...read more
- EIG Monthly Newsletter November 2015: Monthly News Update Overall Statistics October 2015 ...read more
- Massive rise in Northern Ireland prices forecast by industry experts: They are also predicted to rise by 6% in the UK in the same period, according to the Royal Institut...read more
- EIG Monthly Newsletter September 2015: Monthly News Update Overall Statistics August 2015 ...read more
- Property auction market returns to growth!: Monthly News Update Overall Statistics June 2015 ...read more
- House prices rise by 7.5% in Northern Ireland in 12 months, according to ONS report: House prices rise by 7.5% in Northern Ireland in 12 months, according to ONS reportBy Vicky ShawPUBL...read more
- Auction Data for April 2015: Auction Data for April 2015 Difficulty reading the figures? The figures be...read more
- Auction Data For March 2015 - 23/03/2015: Monthly News Update Overall Statistics February 2015 ...read more
- Auction Data for January 2015: Monthly News Update Overall Statistics January 2015 ...read more
- EIG Monthly Newsletter January 2015: Monthly News Update Overall Statistics December 2014 ...read more
- Auction Data for November 2014: Monthly News Update Overall Statistics November 2014 ...read more
- Auction Data for October 2014: Monthly News Update Overall Statistics October 2014 ...read more
- How to succeed in the auction room: After the most buoyant quarter of house sales since records began, a sense of realism is setting inD...read more
- EIG Monthly Newsletter October 2014: Monthly News Update Overall Statistics September 2014 ...read more
- BRG Gibson Auctions - EIG Monthly Newsletter September 2014: Monthly News Update Overall Statistics August 2014 ...read more
- Auction Data for July 2014: Monthly News Update Overall Statistics July 2014 ...read more
- Monthly News: Monthly News Update Overall Statistics June 2014 ...read more
- EIG Monthly Newsletter June 2014: Monthly News Update Overall Statistics May 2014 ...read more
- 68000 Northern Ireland homeowners in negative equity: 68000 Northern Ireland homeowners in negative equityNegative equity remains a large problem for home...read more
- Going once, going twice... Sold!: In an article in the London Times recently it was reported that the words “Going once, going t...read more
- Strong set of results, as over £400 million was raised across 128 UK auctions - a huge increase of 50% on March 2013: Monthly News Update Overall Statistics March 2014 ...read more
- Surge in auctions continues!: Monthly News Update Overall Statistics February 2014 ...read more
- Auction Data for January 2014: Monthly News Update Overall Statistics January 2014 ...read more
- BRG Gibson Auctions, Rated Top Regional Auction House in Northern Ireland for a 2nd Year by Estate Gazette!!! : Estate Gazettes Auctions: Regional Round-UP: Lots Of Good News In 2014 February EditionThere is a lo...read more
- Homes Under the Hammer return to Belfast for BRG Gibson Auction 4th Feb Property Auction : Homes Under the Hammer return to Belfast for BRG Gibson Auction 4th Feb Property Auction BR...read more
- Year-end property auction newsletter shows rising sales and increased revenues: Monthly News Update Overall Statistics December 2013 ...read more
- Auction Activity 2013: This is the content of the Essential Information Group’s first newsletter of 2014, which looks...read more
- Partner Agents/Joint Agency Opportunities: BRG Gibson Auctions welcomes instructions from estate agents who have suitable properties on their b...read more
- Current Vacancies: Join us and become part of BRG Gibson Auction TeamCorporate Services CoordinatorCommercial Senior Sa...read more
- BRG Gibson Auctions TO BE A TV HIT! Homes Under the Hammer!!!: BRG Gibson Auctions TO BE A TV HIT! Homes Under the Hammer!!! Lion TV Scotland, Homes Under...read more
- Property auctions record all-time highs in October!: Essential Auction News Welcome to the November newsletter that looks back at ...read more
- Essential Auction News: Essential Auction News Welcome to the October newsletter that looks back at ...read more
- Ten years until Price Recovery.: The consultancy firm Price Waterhouse Coopers have warned that it may take more than a decade f...read more
- Property auction market continues to grow: Essential Auction NewsWelcome to the September newsletter that looks back at property auction acti...read more
- Average House Prices rising in N. Ireland: The price balance of the latest RICS and Ulster Bank Housing Market Survey for Northern Ireland was ...read more
- Estates Gazette Top regional auction houses for H1 2013 by amount raised: Property auctions in Northern Ireland recorded the largest regional growth in the first half of 2013...read more
- : Auctions have acquired a reputation as a place where banks cleared bankrupt stock, but a recent arti...read more
- Activity in the N Ireland market in the 1st Quarter 2013: The three-month period to the end of March 2013 was the first since the summer of 2007 in which Nort...read more
- Craigavon most effected area in the UK by drop in House Prices. First Time Home Buyers at 5 Year High.: Towards the end of December last year it was reported that the average cost of a home in Craigavon w...read more
- Housing Market Survey and Annual Auction Results.: The most recent Northern Ireland housing market survey produced by the Ulster Bank and the Northern ...read more
- National Auction Analysis EIG: National Auction Analysis As expected, the residential market witnessed large increas...read more
- Investors Buying NOW While House Prices Hit Low!: House prices are still falling in Northern Ireland according to the latest RICS (Royal Institut...read more
- N. I. House prices fall greatest in U.K.: Helen Carson, who writes on property related matters in the Belfast Telegraph wrote in the paper on ...read more
- Housing Market Downturn is now five years old.: According to the latest RICS and Ulster Bank Housing Market Survey for July 2012.Norther...read more
- Current Market Conditions and Let the Buyer Beware: The price balance of the latest RICS and Ulster Bank Housing Market Survey recorded its lowest readi...read more
- RICS and Ulster Bank Housing Market Survey: We are on the eve of our next auction, to be held at the Stormont Hotel on the Tuesday the 8th May. ...read more
- March Auction 2012: Hot on the heels of their previous very successful auction held at the Stormont Hotel, Upper Newto...read more
- 2 Feb 2012 - Mustbesold.com & BRG Gibson Auctions: BRG Gibson Auctions AnnounceOn the 2nd of February 2012 at the Stormont Hotel Belfast, there will be...read more
N. I. House prices fall greatest in U.K.
Helen Carson, who writes on property related matters in the Belfast Telegraph wrote in the paper on the 3rd October 2012 that Northern Ireland house prices have fallen sharply by almost a tenth over the past year — the greatest drop in the UK.
She also reports that Belfast has also been ranked as the worst performing city in the U.K., with prices down by 14% in the past 12 months and that the Nationwide House Price Index paints a stark picture of the difficulties facing the market.
Apparently, according to its figures, the average property price in Northern Ireland now stands at £107,719.
That figure signals a 9.3% downturn since this time last year — and a 2.3% drop in the last three months — the fifth quarterly drop in succession.
We understand that Nationwide has said the biggest fall was recorded in Belfast which has seen the price fall by 14% when looking at figures for this time last year.
Belfast tops the table as the worst performing city in the UK — followed by Manchester, down 11%, Bradford, down 9%, York, down 6% and Carlisle, down 5%.
The city is still the most expensive place in Northern Ireland to buy a house with the average price standing at £148,420.
Nationwide further states that the cheapest homes are to be found in counties Tyrone and Fermanagh with an average price of £105,719 — also down by 10% over the quarter.
Homes in counties Antrim and Londonderry have dropped by 11% (quarterly figure) to £118,955 on average, and in Co Down falling by 9% (to £132,226).
Robert Gardner, Nationwide’s chief economist, said prices have now plummeted by 53% since the property market peak in 2007.
However there is a bright side and that is that is that affordability levels are now good. Mr Gardner added: “Northern Ireland is now the most affordable place in the UK on a house price to earnings ratio basis, at 2.9, when it used to be the least affordable, with prices more than nine times earnings at the peak.”
Keith Mitchell of Belfast estate agent Templeton Robinson is reported as having said: “It is well documented and reported that houses prices increased 50% plus in the boom and fell by the same amount from the middle of 2007 to the Autumn global credit crisis of 2008. The reality is that it has taken the past five years for some people and lenders to accept this. The delay in doing so is prolonging our agony in moving on, with many financial institutions drip-feeding assets off their balance sheets over a long, slow period.”
He added, however that house sales overall are improving with buyers responding positively to increased affordability.“Interestingly, market appetite is strong with over 600 offers taken on realistically-priced property on our books from May to August and another 5,594 viewings during the same period,” said Mr Mitchell.
He also claimed the combination of rising rents and a housing supply unable to meet demand, with renting in some cases more expensive than buying, was encouraging more people to consider home ownership.
We would suggest that there is nowhere better to pick up a bargain in the present market than at a property auction, where in addition to the availability of properties at bargain prices there is the bonus of achieving certainty and expediency through the auction process,