Property sales: Belfast pushes ahead!

Last quarter I reported that property sales were "inching back up" - rising 3.8% across the Province as a whole, with Belfast posting a modest climb of 0.6%.

I saw this as vindication of my optimism following a disappointing Q1, in which both NI's and Belfast property sales dropped, but I pointed out that Belfast performed better, with a smaller fall in sales.

And here we are, looking at Q3, with Northern Ireland property sales seeing a dip of 5.4% between the second and third quarter, however...

Fanfare please...

Belfast sales in Q3 have risen between the quarters by 8.85%!

At time of writing, there were 1,205 confirmed residential property sales in Belfast during the third quarter of 2017, compared to 1,107 in the second quarter. 

Northern Ireland as a whole saw confirmed residential sales drop from 5,764 in the second quarter to 5,453 in the third quarter.

If my calculations are correct, Belfast has outperformed the country as a whole by 14.25% sales-wise!

If you look at the housing price index both for Northern Ireland as a whole, and for Belfast, it appears my theory is bearing out - NI house prices are rising fairly steadily and Belfast is keeping pace, but still remains more affordable than the NI average, by some £8,000+.

Belfast offers so much for the property investor - a vibrant city full of new hotels, businesses and regeneration, with more affordable properties than many other parts of the country.

As always, I am here if you want to chat property investment or buy-to-let - give me a call on 028 9066 3106 or drop me a line to info@thebelfastpropertyblog.com