Lochside Garage

Buy-to-let property figures take a fall

THE Fermanagh and Omagh area has bucked the trend evident elsewhere in Northern Ireland where there has been a 29% increase in the number of buy-to-let properties purchased in 2020 compared to the year previous.
In Fermanagh and Omagh there has been a four percent decrease in the number of buy-to-let properties purchased this year.
The figures were part of research conducted by insurance and personal finance comparison experts CompareNI and lists several contributing factors for the jump in buy-to-let investments.
CompareNI cites the fact the pandemic has “driven interest rates into the ground” and the government’s stamp duty holiday as the main factors affecting sales in this housing sector.
Furthermore, the best savings accounts available today offer a three per cent interest rate by contrast, the average rental yield in buy-to-let property in some parts of the country offers rental yields in excess of seven per cent.

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The Fermanagh Herald is published by North West of Ireland Printing & Publishing Company Limited, trading as North-West News Group.
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