House sales at 25-year low in the North

The volume of house sales in the North has dropped to its lowest level in 25 years.

In the first three months of this year, there were 896 transactions compared to 2,120 over the same period a year ago.

The University of Ulster quarterly house price index report said some estate agents reported no sales at all.

However, the average price of £230,908 (€290,358) is still 7.5% higher than a year ago showing people are holding on their homes rather than sell at a reduced price.

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