Rental transactions down in Belfast - but the city still dominates the market in Northern Ireland.

 45% of rental transactions in Northern Ireland took place in Belfast in the second half of last year. It retains its crown as the landlord capital of the province, but the latest rental performance report has some really interesting stuff in it.

South Belfast now tops the charts for the highest average rent, overtaking the city centre.

Is supply outstripping demand in the city centre? Or has all the new student accommodation (flashy as it is) pushed average rental rates down? Perhaps those green shoots of development we noticed in last month's Area Profile are simply beginning to bear fruit in BT9.

Key stats:

• A total of 4,045 properties were let in Belfast between July and December 2016; a decrease of 18.4% on the first half of the year, and a drop of 9.7% over the year as a whole
• Terraced/townhouses remain the most popular rental, and detached are still the least
• Two-beds are still the most in demand with renters, and one-beds the least
• Highest average rent is for a 4/4+ bed property in BT18 while the lowest is for a one-bed in BT12
• Detached properties in Belfast saw an average rent increase of 6.5% on H1 and a whopping 24.4% over the year as a whole - perhaps there is a shortage of supply in relation to demand?

Wider Belfast Area Rent Guide

 This guide is particularly useful when used in conjunction with our Rental Yield Calculator Tool.

Source: University of Ulster Performance of the Private Rental Market in Northern Ireland summary research report