New data shows the best places for housing sales in Northern Ireland, with a notable increase in buyer activity and property prices.
In the last quarter of 2024, buyer confidence surged. There was a 12% rise in newly listed properties, with over 4,500 homes hitting the market. This influx helped meet demand and boosted market activity.
Home prices have also climbed. The average house now costs around £221,000, marking a 6.4% increase from last year. Derry City & Strabane saw the biggest jump, with prices up 12.3%. Belfast followed closely with an 8.5% rise.
The report also noted that the time to find a buyer has improved. It now takes about 47 days, down from over 60 days previously.
Jordan Buchanan, CEO of PropertyPal, mentioned that buyer sentiment looks positive. Search activity on their site is up 15%, and inquiries to estate agents are rising too. While the economy is a bit shaky, recent inflation data might ease some concerns for the Bank of England regarding interest rates.
Overall, it seems like the housing market is gearing up for a busy start to 2025.
