THE recovery in the property market looks to be continuing.Research published this week shows the performance of Northern Ireland’s housing market between April and June was at its strongest level since 2007, according to researchers.
The findings are contained in the latest University of Ulster quarterly house price index.
The average house price in Enniskillen/Fermanagh/South Tyrone is currently £123,042. This is compared to the average house cost £139,720 for all of Northern Ireland – which is up 6.9% on the same period last year, and 1.4% higher than the first quarter.
Walter McFarland of Eadie McFarland & Co said he is asked if the property market is recovering, or if house prices or rising several times a day, every day.
And he said his answer is always the same – it picked up three years ago but in the first two years it was only in the sector of properties below £100K.
“In the last 12 months this sector has really picked up, and the same is true for properties over £200K. This had been a sticky sector but things are moving and we have made a number of sales in this price bracket,” said Mr McFarland.
“I would say this year we have sold more properties over £200K than we did in the previous three years.”
And the Enniskillen estate agent said he has also seen things moving in the £100K to £200K price bracket, saying properties here are selling much quicker.
“Under £100K has always been lively but lately we have seen prices rise in this sector,” said Mr McFarland.
According to Mr McFarland people’s attitudes has changed this year saying people are now anxious to buy having seen the prices remain static for some time and now starting to rise.
There was over supply for a few years but now supply is back to normal levels said the estate agent.
Michael Leslie of Smyth Leslie estate agents, agrees that things are picking up and that there is more activity in the market.
“We have almost got to the stage there is a shortage of properties for sale, and there is a keen demand for resale properties” said Mr Leslie.
“We are also find first time buyers who might have first come to us two or three years ago are now coming back. They realise that now is a good time to buy and that finance is becoming more readily available.”
The average price for Enniskillen/Fermanagh/South Tyrone: £123,042 compares favourably with the price in Mid Ulster: £112,664.
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