On Monday 15th June, the Northern Ireland property market reopened after 11 weeks in lockdown. Homeowners are now able to market their property; buyers have the option to view their potential new home and conveyancers and removals firms are restarting their businesses. Within this guide to moving home during the Coronavirus outbreak, you will find advice and guidelines from the government which will help to ensure a safe return to the property market.
Across the board our members are seeing high levels of interest in both sales and lettings and it’s fair to say that Pre Covid-19, the housing market was very stable. It is clearly evident that the demand will still be there after restrictions are relaxed. Interest rates are low and banks have the liquidity to fund suitable borrowers.
One of Belfast’s most iconic buildings, Custom House, has been put on the property market after its previous occupiers moved out. Located in a prominent location, fronting onto Custom House Square at Donegall Quay, this Grade B+ listed building has been put up for sale after the relocation of HM Revenue and Customs (HMRC) to Erskine House in January.
House prices increased across all 11 Northern Ireland council areas in 2019, as the region generally outperformed the rest of the UK, new data highlights. The latest House Price Index shows that the average Northern Ireland house price rose by 2.5 percent to £140,190 over the last 12 months (Q4 2018 – Q4 2019). The largest increase in property styles was detached homes (up 3.7 percent), semi-detached homes (up 3.1 percent) and terraced homes (up 1.8 percent)
20 properties were sold within 48 hours at Rivenwood by Fraser Houses, one of Northern Ireland’s newest village developments. Located off the Movilla Road in Newtownards, the £200 million scheme is one of the largest new-build housing developments in Northern Ireland. Over 155 properties have been sold to date, highlighting the strong demand for this development from buyers.
The sales of well-known shopping sites including Sprucefield Retail Park helped Northern Ireland’s commercial property sector end 2019 in a better position than once anticipated, it has been claimed. A report by commercial property agency CBRE highlighted that the investment market witnessed an increase in transaction volumes year-on-year. Almost £212m was invested over 32 separate transactions last year.
On Friday 15th November, hundreds of estate agents, property experts, developers and architects gathered at Belfast’s Crowne Plaza to celebrate the Belfast Telegraph Property Awards 2019, in partnership with Electric Ireland. Now in its fifth year, the Belfast Telegraph Property Awards continues to be one of the most anticipated dates in the property calendar. The ceremony was hosted by broadcaster Pamela Ballantine while Belfast comedian Paddy Raff entertained the crowds.
The latest research from Ulster University shows that the average house price in Northern Ireland is at its highest level for over a decade. Latest analysis indicates that the average price of houses sold throughout the third quarter of 2019 was £171,763. This is a 5% increase when compared to the same period last year. It is also an increase of 5.7% when compared to the second quarter of 2019.
The finalists for the Belfast Telegraph Property Awards 2019 in partnership with Electric Ireland has been revealed. It was an esteemed panel of judges that had the difficult task of deciding the top entries from each category.