Sales remain brisk as demand continues
The market is busier than in any year since 2007. In the first nine months of 2021, HMRC estimate that more than 1.2 million homes changed hands, 47% higher than the long-term UK average (2010–2019) and just 50,000 fewer than the same period in 2007. On average, there is now only 2.2 months’ worth of stock available in the UK, compared to four months’ stock in 2019 (TwentyCi).
Four areas in Northern Ireland have seen more than one in every 20 homes change hands over the past year. The average annual rate of housing stock turnover in Northern Ireland as a whole is 4.6%.
On the up
The average annual rate of housing stock turnover in Northern Ireland as a whole is 4.6%. The average price of a property has increased significantly during the past year, a number of localities experiencing double-digit annual price growth. Agents anticipate price growth will moderate over the coming months to more sustainable levels, with growth of 3.5% predicted in Northern Ireland during 2022 (Zoopla). According to Dataloft, the annual increase in the average property price in Northern Ireland is £9,700.
COP26 focused attention on the environment and energy efficiency. An Energy Performance Certificate (EPC) is needed whenever a property is built, sold, or rented. While 90% of new build properties achieve the highest A or B rating, just 1 in 14 resale properties currently reach that grade, although 60% could with improvements. Upgrading could prove lucrative; resale properties rated A/B currently attract a 13% price premium (based on £psf), compared to those properties with the average D rating1.
Properties for sale in the Northern Ireland region of the UK
Coleraine, Londonderry, 7 bedrooms
Dating back to 1801, Millhouse is steeped in local history and set back from the busy town of Coleraine on a quiet, secluded site. This truly exceptional detached residence benefits from a detached cottage, ideal for generating an income or for family use. Renovations have ensured that this property enjoys both traditional and modern features.
Belfast, Antrim, 5 bedrooms
Set in a quiet cul-de-sac between the Belmont and Holywood Roads, this attractive detached property would appeal to a wide range of buyers. Families in particular would find this house well located for some excellent primary and secondary schools, which are situated close by. Belmont and Ballyhackamore villages are within walking distance while the city centre is easily accessible via road or rail.
Moneymore, Londonderry, 5 bedrooms
With outstanding views looking out over Slieve Gallion, this exceptional five-bedroom detached country residence enjoys a swimming pool, cinema room, gym and triple garage. Externally, the property has been finished to the highest specification with amazing tree lined driveway and there is the option to purchase 11 acres of good agricultural land with the home.
As property prices continue to rise and the UK hits a record number of sales for autumn, sell your property with experts in the property industry this winter. Contact your local Guild Member today.