County Fermanagh is attracting buyers from across the UK and Ireland
The statistics in this report were supplied by Ulster University House Price Index in partnership with Propertynews.com, the Progressive Building Society and the Northern Ireland Housing Executive on a quarterly basis. The report compares sales activity from April to June 2021 with the same period last year. Read more about house prices in County Fermanagh.
Average House Price Now £151,074
Recent levels of high demand has resulted in County Fermanagh facing a record low supply of all types of housing.
With its Lakelands and natural beauty, Fermanagh has been attracting people from the UK and Ireland over the past year.
Just last week a detached house in the rural Garvary area of Castelcoole was viewed by people from England, Scotland, Wales as well as north and south of the border – and all within three days of it being put on the market.
This month also saw an English buyer swoop in and snap up a delightful, detached house in Belleek within a week of the for sale sign going up.
Most are attracted to picturesque rural areas where prices in the county were up 7.92% in the second quarter of this year compared to 2020, with the average cost of house in the Fermanagh countryside rising from £165,000 to £178,071.
Overall average house prices in the county rose by just 4.19% from £145,000 to £151,074.
People moving from outside the County have been a main driver according to agent William McFarland of Eadie, McFarland & Co.
He says: “Covid has given people an opportunity to evaluate their homes and has driven a demand for more space. In Co Fermanagh we are not short of space!
“We have a growing trend of mainland UK buyers relocating to Fermanagh. They are selling a high value house in England and buying a better home here for potentially half the price!
“Reasons for choosing Fermanagh are to get away from overcrowding and enjoy Lough Erne, while remaining in the same financial and healthcare systems.
“Most who relocate are retirees, but some are ‘work from home’ relocations who have strong salaries but enjoying lower Fermanagh house prices.
“They require a high-speed internet connection, now widely available here and get a better lifestyle.”
While apartment prices were down by -2.63%, William says exceptions include those close to Lough Erne or with lake views.
Semi-detached prices are rising due to demand from first time buyers. So much so that developers are struggling to deliver new homes in this sector fast enough.
Construction and supply chain delays caused by Covid and Brexit has delayed some new build handovers as William explains. “The increase in construction material prices has led developers to increase their prices right to the market limits.”
“The developers maintain that with the huge rise in costs they need these prices to maintain a level of feasibility.”
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For more details on this survey go to Propertynews & Belfasttelegraph.co.uk
The full results will also be published in a 12 page section in the Belfast Telegraph on Saturday 21st August.