The property price peaks of 2007 have disappeared and “are unlikely to return for a generation” in Northern Ireland, according to leading local property professionals.

Latest industry research shows house prices continued to fall last month in the North with the general consensus that economic uncertainty, at home and abroad, is holding back any meaningful recovery.

According to the latest Royal Institution of Chartered Surveyors and Ulster Bank housing market survey, not only are prices falling but so also are property sales.

The institution says the outlook for the local market remains “uncertain” with many industry professionals expecting the number of property sales to fall further.