However, the demand for residential property remained steady, with 11% more surveyors reporting an increase in new buyer enquiries and 9% reporting an increase in newly agreed sales during March.
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Compared to the start of the year where 42% surveyors reported a decrease in prices, just 13% more surveyors saw prices fall in March. Across the UK, the average surveyor sold 19.5 properties.
Northern Ireland continues to outperform the rest of the UK with the strongest house price growth in March and the highest price expectations over the next three months.
Robbie Buchanan, Partner of Graham + Sibbald said: "Demand is outstripping supply at present and this has resulted in quicker sales and a modest increase in prices levels for houses."
(LM)
