NI property prices at a seven year high!

14th April 2015
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“The Northern Ireland property market has picked up significantly this year already, with every month bringing a fresh set of improved data; so I am not surprised this recent report demonstrates the highest number of house sales in the last seven years. We have encountered more positivity in the market, with homebuyers more confident to invest in the local housing market.

“There are now more positive indicators than at any point over the past few years, signalling a period of higher activity and price growth in a market that had been expected to show little or no growth. Yet a combination of government intervention, improving consumer confidence and low interest rates have come together to make current improvements look more prolonged than the short-lived bounce seen in 2010.

“We see a lot more potential for growth this year in the market. Bidding wars are now an everyday occurrence, with some buyers willing to go straight in with a bid of the asking price, rather than start with a low bid. In fact, we listed a property in East Belfast last Friday at £150,000 and the first bid was £160,000. Again in South Belfast a property still has four bidders competing, despite already increasing from £240,000 to £260,000.

“Good homes, in the right area, offering all the right ingredients, are still hard to come by, so homebuyers know they have to act fast in order to secure that dream home.”

Michael Chandler

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