Apr 13 2017 09:35:00

Steady Sales Progress…

The continued rise of property prices in Northern Ireland is a positive sign not just for homeowners, but for the economy in general. A buoyant housing market is a good indicator of how NI PLC is performing, and as we move out of the winter months and into Spring it’s traditionally a time of strong activity for buying and selling property.

Reports by Northern Ireland Statistics and Research Agency and Royal Institute of Chartered Surveyors say house prices continue to increase, but with the limited availability of properties to the market, now is the optimum time for vendors to act and capitalise on both the demand and favourable conditions to maximise sales opportunities.

According to the Council of Mortgage Lenders, lending is holding up well, but under the surface buyers face mixed fortunes. First-time buyers and customers who are re-mortgaging are driving total lending, while the home movers and buy-to-let market still face challenges with fewer properties coming onto the market.

We traditionally see a significant upsurge or properties becoming available as the year progresses which in turn generate increased market activity. While there have been challenges, 2017 is off to a steady start and we look forward to facilitating increased transactions as the year progresses.

Rental Sector…

Increasingly we’re finding tenants are prepared to spend a little extra on rent to get a suitable property, with demand driven by a transient working-age population, and the number of people who are in between properties driving this across Northern Ireland.

There’s a growing requirement from tenants for high quality rental property in good condition with young professionals looking for modern efficient and low maintenance properties.

Families are seeking something more spacious with a garden or outdoor area, while students are becoming more focused on finding the right house that will work for them and the others they intend to live with, rather than just find any property close to university.

Demand is still outweighing supply, and if a good quality property in a prime location comes to the market, there are often several applicants keen to rent it. This healthy competition is also what keeps the market moving, and encourages landlords to invest time and money into their properties.

The most important factors continue to be correctly priced monthly rental fees and a high quality of finish which is what everyone wants and expects in the current rental market.