Northern Ireland's soaring house price rises are finally showing signs of slowing down, a new study revealed today.
In a poll of chartered surveyors, 98 per cent reported growth during April, but with the rate down from March's astonishing levels.
Two-thirds of those questioned revealed rises of at least 5 per cent, down from the 75 per cent who returned that a month earlier.
Growth rates of 8 per cent was just half as common this time, according to the Royal Institution of Chartered Surveyors (RICS)/Ulster Bank housing study.
Tom McClelland of RICS said the market was softening despite continued price rises.
"Last month's rises were robust, indicating that confidence in the outlook for the market amongst buyers remains quite healthy, though with the prospect of May's interest rate rise looming, it was inevitable that growth in April would not match the huge surge in prices that the survey reported in March," he said.
"In the current interest rate environment and with the potential for one more hike to come it is likely that at least some investors will leave the market over the coming months."
Northern Ireland growth rates are still the highest in the United Kingdom, however.
PA