The price of houses in Northern Ireland is expected to increase by 4% by 2022


In Northern Ireland, strong real estate prices are expected to rise for the next four years.

According to PwC's latest Economic Outlook (UKEO), the region expects an increase of around 4%, with average real estate prices currently at around £ 128,000 and reaching £ 154,000 by 2022.

The Belfast Telegraph has studied what is currently available on the market in the order of £ 128,000.

In Belfast, a newly constructed two bedroom apartment in Upper Newtownards Road with gas heating can be purchased at a price between £ 125,000 and £ 129,950, with an area of ​​741 square feet to 892 square feet.

A one bedroom apartment at Bell Towers South in Belfast requires over £ 125,000 of business requiring a monthly mortgage of £ 354.

A 547-square-meter ground floor one bedroom apartment for sale at Crescent Gardens in Belfast's Queens Quarter with gas heating, access to a shared roof garden and "the added benefit of the bike camp" is on the market with offers of over £ 125,000.

A two bedroom townhouse in Windsor Drive, Belfast's Lisburn Road, a short walk from downtown, Queen's University and City Hospital was recently rated for £ 119,500.

If you wanted to get out of the city, a 572-square-foot apartment in Church View, Holywood, could give the buyer £ 127,500 for a one-bedroom gas apartment on the first floor.

At Dundonald, a two-bedroom, first floor, gas apartment is available at the Bailey Manor Market for £ 125,000.

In comparison, new two-bedroom turnkey apartments are sold at Belfast Street in Larne from £ 89,950 for 705 square feet.

Real estate agent Jennifer Campbell, partner and director of Hunter Campbell, said: "Our new semi-finished product ranges from £ 125,000 to £ 130,000 in Larne, but Carrickfergus and Ballyclare, a standard bedroom with three bedrooms , would be £ 135- £ 145,000.

"In terms of resale, an old half-bedroom in Larne, you can buy for £ 100,000, but in Carrickfergus it will be £ 115-120,000 and Ballyclare, £ 125- £ 130,000.

"The market is very bullish and at the moment, in short, depending on where it is, you can get a nice seed for your asking price."

Meanwhile, 128,000 pounds are buying a three bedroom and two bath house at The Birches in Portadown. The price for this new home off Clonmakate Road is £ 127,999, a 1,048-square-foot gas-fired property.

In Draperstown, buyers were able to purchase a new three-bedroom and two-bedroom detached house of 127 m² for £ 127,500.

New three-bedroom townhouses at Curly Hill in Strabane with a full bathroom are on sale at £ 127,500 for 1,075 square feet.

According to PwC, the local market is proving "more resilient" than the rest of the United Kingdom. The UKEO foresees a "weakening" of the increase in the national real estate price around 3.4% in 2022.

The expected increase in Northern Ireland was the seventh highest in the UK regions, with PwC forecasting that the region will rise next year and will lead the list by 2022, although prices are still more than a quarter under the pre-crisis slope of 2007,

Meanwhile, a new £ 4.25m development of 24 homes in Portrush has been sold in record time with 16 homes sold on as many days.

James Hagan, founder and president of Hagan Homes in Ballyclare, said: "The inauguration of the show at The Rocks, Portrush, was the most successful event at Hagan Homes with around 400 attendees this afternoon.

"We saw an unprecedented interest in the real estate sector with all 16 properties of the first phase: Hagan Homes purchased the property in October 2017 and opened the 24 four and five bedroom homes in December 2017.

"The first phase of the house will be completed by September 2018, the second phase with the remaining eight apartments will be announced shortly.The general development should take place by December 2018.

"The demand for luxury properties in Northern Ireland, which offer good value for money, remains extremely high.

"Hagan houses build high-quality, stylish homes and we are known for our attention to detail."

PwC President Northern Ireland and UK Regional Director Paul Terrington said, "The Northern Ireland real estate market continues to perform better than expected, with a positive balance between profit and real estate prices. However, prices are still well below the 2007 high and this gap will probably not be closed in the near future.

"However, long-term forecasts can be influenced by a number of factors, and there are significant problems, not least the low economic growth in the region.

"We are still at the bottom of the UK regional growth league and, given the absence of decentralized administration and Brexit, we should all be worried."

Belfast Telegraph


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