DOWNTOWN QUARTERLY YET TO BOUNCE BACK Just Northern Ireland has failed to recover, with house prices climbing just 2% since the recession, although they remain -36% below their pre-recession peak. While house prices in the North East have also climbed 13% since the market bottomed out in 2009, they also remain -4% below their market high seen in 2007. Managing Director of StripeHomes, James Forrester, commented: “There will be generations of UK homebuyers who will have known nothing other than upward house price growth, but those slightly longer in the tooth will have experienced at least one
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decline in the value of their bricks and mortar during their lifetime. However, the resilience of the UK property market and the cyclical nature of house price growth means that the market has well and truly bounced back, with all but a very small segment reaching new house price highs. Not only have the ghosts of the financial crash been laid to rest but house prices have far exceeded their pre-recession peaks and this demonstrates that, by and large, the property market remains the safest investment you can make during your lifetime.”