FERMANAGH estate agents have said they’re experiencing ‘very high levels of demand’ for houses from first-time buyers.
Fermanagh estate agent, Niall Smyth, has said that demand within the first-time buyer sector in the county is ‘very positive’.
“The key issue for first time buyers is the ability to purchase. Co-ownership is a mechanism that increases affordability options and an option to get onto the property ladder,” he told the Herald.
“It is my understanding that the Co-ownership threshold is about to increase to houses sold up to £ 195,000.
“First time buyer homes range from £125,000 to £200,000, the new build semi-detached the highest priced option.”
Enniskillen estate agent, Nick Finlay, also feels that there’s positive signs for first-time buyers.
“We have witnessed recently that interest rates are beginning to retract and this is opening the door to more people looking at taking their first steps onto the property ladder,” he said.
“In general, new build three-bedroom semi-detached properties are coming in between £185,000 to £200,000, and this is still a significant sum for people to attain.
“When the limited supply of property comes on between £110,000 and £170,000, the price point for many first time buyers, there is a really significant level of interest.”
In good news for first-time buyers, Mr Smyth, pictured left, says house prices are increasing at a ‘steady rate’.
“The key influence is that demand currently outweighs supply with not enough residential property available to meet the current level of demand,” said the Derrygonnelly man.
“This demand is further influenced by parties moving to Fermanagh for a new way of life, assisted by the ability to work remotely.
“It is expected that numbers moving to Fermanagh will continue to increase in 2024 due to recent positive publicity in the national media regarding Enniskillen and Fermanagh as a very positive place to live.”
The Herald recently revealed that plans are in progress for another two major housing developments in the county, one in Enniskillen and another in Letterbreen.
The Letterbreen plan is for 28 new homes, both detached and semi-detached, on the Moybane Road.
On the Tempo Road, planning application has been lodged for 20 two bedroom apartments, six two storey detached homes, nine single story detached homes, and 84 two storey semi-detached houses.
Mr Finlay has welcomed news of the potential housing developments in the county.
“Currently we only really have two or three substantial developments that are able to generate significant number of properties to only slightly satisfy the demand,” he said.
“We released four properties two weeks ago in one of these developments and they were sold on the first day. We probably could have sold 12 on the same day.”
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