HOUSES and homes in Fermanagh are the cheapest to rent in the North as the local demand increases and many young couples are left fearful as they make the step onto the property ladder.
It was recently reported that it costs an average of £623 per month to rent a house in Fermanagh.
In line with counterparts in Omagh, rent in Fermanagh jumped by just 2.9 per cent over the past year, while the general rise in rent costs across the North increased by a staggering 10.3 per cent.
There has been a big demand for houses locally recently, with plans confirmed for the future development of two new housing estates in Enniskillen and Letterbreen.
Niall Smyth from Smyth Leslie & Co recognises the demand is growing for houses to rent locally.
“Demand currently outweighs supply with not enough residential property available to meet the current level of demand,” local estate agent, Mr Smyth, previously told the Herald.
“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 due to recent positive publicity in the national media regarding Enniskillen and Fermanagh as a positive place to live.”
While the cost of rent is still high in Fermanagh, it’s well down from the likes of Belfast. It was reported that the average cost of rent is £1,027 per month, the highest in the North.
Estate agent, Nick Finlay, recognises it’s difficult for young people looking to set up a new home.
“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.”
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