Blog » House Prices In County Tyrone

House Prices In County Tyrone

Waiting list for detached homes in the County Tyrone

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 Tyrone.

Average House Price Now £182,361

Remote working sparks surge of people wanting to return to roots

Demand for detached houses in the countryside is so high that most estate agents have a waiting list of potential buyers.

This demand has pushed prices up and Tyrone has the largest increase in rural property values of apart from Londonderry.

Last year a detached home in the Tyrone countryside in Q2 would have cost £157,893, while in the same period this year cost £182,361.

Expert Opinion

Keith Pollock of Pollock Estate Agents in Omagh told us that competition for detached countryside houses in Tyroen remains fierce.

“We have people coming to see houses in rural areas in their droves,” he says. “Flexible working is the main driver of the market here. A lot of folk who moved to the Belfast for work now want to come back home.”

“Most want to be in the countryside but close to the big towns like Dungannon and Omagh.

“Most of these people probably bought their first semi in the city and now want a detached house.

“People are spending a lot of time in their homes and want extra space. There is so much demand that it is outstripping supply. “When a detached house does come up for sale in the country there is a bidding flurry.”

A detached property for sale in rural Tyrone in the second quarter of 2020 would have cost around £245,000.

Keith says that in the same period this year he was selling similar properties for over £300,000.

Market Analysis of house prices in County Tyrone

Keith says: “When we have a new property come on, we are absolutely plagued with people calling to see it.

“People no longer have to commute for work and have a bit of money to spend after selling their Belfast home. They want the next step up which is a detached country home.”

Several new developments in the county have also seen a rise in first-time buyers pushing prices of semi’s up by around £10,000 from £114,098 in 2021 to £124,264 in the second quarter of this year.

Keith adds: “A lot of developments are fully booked six months in advance of the properties being ready as first-time buyers enter the market.

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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.