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Dear Barry
Area Profile: Andersonstown
2nd February 2018
Area Profiles
Bordered by the M1, Glen Road and Suffolk Road into Blacks Road, the predominantly nationalist/republican community of Andersonstown lies in the south west of the city.
Home to just under 5,000 people, I believe 'Andytown' is best understood if you think of it as a city within a city.
You'll see the full spectrum of living standards within this area and that's reflected in its properties - from big detached pads with gardens and garages at the top of the scale, to pleasant semi-detached properties, starter homes and new-build apartments in the middle of the picture, right down to tiny terraces, pre-fabs and some slightly more down-at-heel developments.
The demand for rental property in Andersonstown is enormous. People from this area like to stay here - family bonds are strong, many live here for life and most will likely be tenants rather than homeowners.
Even in the less affluent parts of Andersonstown, I have spotted little green shoots of regeneration. Some areas - particularly moving towards Suffolk - have little high-density pockets of social housing developments, but it's worth noting that recently completed schemes appear to be finished to a good standard and pleasant to the eye.
Some of the more neglected-looking blocks of flats are undergoing facelifts and there are new-builds and building sites aplenty along Blacks Road.
The Andersonstown Road itself is ripe for a developer looking for their next project. The last time I drove through I spotted at least two plots of land and the old First Trust Bank all up for sale.
Former bank building on the Andersonstown Road
Subject to planning permission you could take advantage of the appetite for rental properties with a block of tenant-friendly apartments. In fact, I wouldn't be surprised to see another 'build to rent' scheme on one of these sites; at time of writing I read there are two of these at planning stages - one for the city centre and one in east Belfast.
There's a little pocket of relative affluence within Andersonstown and unsurprisingly, it's in the part sitting cheek to jowl with South Belfast. Big family homes approaching the quarter mil mark are to be found here. You might find a good rental home for a large family.
This little micro-area is a good example of the middle ground in Andersonstown and there's money to be made if you buy smart. If you spot a house with value to be added, you'll have a decent capital return - plus renting it for yield return in the meantime won't be difficult. The demand is there.
Smaller, more affordable properties to be had, with rental demand virtually guaranteed. You need to strike a balance between making it a comfortable, low maintenance place to live, and not pouring too much cash into it. That way you maximise returns and tenant happiness - the ideal combination.
£229,950 asking price
This stunning 4-bed home is a great example of the top end of the Andersonstown market.
Asking price £95,000
This 3-bed semi represents a solid rental investment, with potential for capital appreciation if you extend into the space beside the house, perhaps adding a master and ensuite when house prices are on the up (subject to planning permission of course - but you can see your would-be neighbour has already done something similar).
Asking price £79,950
With 3 decent bedrooms, this little terrace is deceptively big for this type of property. It's walking distance to all the local schools and youth clubs, so this will not linger on the rental market.
I hope you enjoyed this latest instalment of the Area Profile series. Don't forget to get in touch if you have anything to add - do you have properties in this area? What is your experience of renting out or selling in this part of Belfast? What areas of the city would you like to see me take a look at in future articles? Email info@thebelfastpropertyblog.com
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