HOUSE prices are continuing to climb here in Fermanagh, and even Brexit may do little to slow their steady ascent.
According to the Land and Property Services’ report for the third quarter of 2018, the average price of a home in the Fermanagh and Omagh district is currently £124,513. That’s an increase of 1.7 percent on the quarter, and an annual jump of 5.5 percent.
Across the North as a whole, house prices increased 2.3 percent on the quarter, and 4.8 percent on the year.
Local estate agent Niall Smyth, of Smyth Leslie and Co, was not surprised by the figures.
“2018 has been a very positive year in terms of the property market because the market has continued to develop and that has encouraged confidence,” he said. “The residential sector is moving on nicely, the commercial sector is still a bit sluggish and there’s a bit of work to do. That is possibly linked into economic factors at the moment.”
Mr Smyth also feels recent projections that house prices could plummet 30 percent in the event of a no deal Brexit shouldn’t worry locals too much, due to the fact there has been less of a property bubble here than elsewhere.
“There was the report from the Bank of England last week outlining the impact of Brexit,” he said. “My opinion is that was very much England orientated, as opposed to Northern Ireland related. We’re still recovering from the hangover of the recession. We are moving forward but our property prices haven’t reached that crazy level that Dublin and England have achieved. We’re still recovering so we haven’t reached those dizzy heights, but we are seeing gradual increases.”
Mr Smyth added Fermanagh was continuing to attract retirees and those seeking to relocate, something he feels could be built upon by the Council and other agencies.
“This year again we’ve seen positive interest from England, from people who see Fermanagh as a positive place to come and live,” he said. “It says a lot about the place, and it’s something possibly the Council need to take a look at and develop that image of Fermanagh as a positive place to come and live.”
Posted: 9:41 am December 7, 2018