Find out what’s happening in the property investment arena both in the UK and internationally
Low prices and a brisk market create the perfect storm for Belfast property investors
February 20, 2015Article by Charlotte Ashton
Office of National Statistics (ONS) figures have shown that Belfast’s property prices are the lowest in the UK, with an average house price of £142,000 in December 2014. This compares with average house prices in London for the same period standing at £502,000. More broadly across Northern Ireland, property prices remain 45% below their peak in 2007 based on ONS data.
A question of time
For property investors, the reduced prices offer an exciting opportunity in the City of Craic, with a low entry point and the potential for substantial capital growth seeming to be just a question of time. In the past year, Belfast’s property prices have risen by 4.9% according to the ONS figures, a sign of a healthy and stable market.
Northern Ireland’s property market is “brisk at the moment” according to local estate agent Conor Cooke, while property investment expert Ray Withers, Chief Executive of specialist property investment company Property Frontiers, comments,
“Belfast is one of the UK’s most exciting property investment markets right now. We’re seeing a renewed confidence in the housing sector there, as indeed we are across Northern Ireland. Buy-to-let apartments for young professionals are particularly interesting, with demand from investors strong as they enter this booming marketplace.”
A leading opportunity
In response to investor demand for access to the Belfast buy-to-let market, Property Frontiers is presenting The Sandford, a collection of elegantly designed one and two bedroom apartments and duplexes, strategically located between the city centre, the popular Titanic Quarter and the lovely views along the waterfront. The Sandford is available for investment from £108,100 to £124,644.
“The Sandford is one of Belfast’s leading opportunities when it comes to residential buy-to-let properties,” continues Withers. “It has been designed to be perfectly attuned to the wants and needs of young professionals working in the city and the rapid sales are a testament to this. The development is within walking distance of the city centre and the trendy bars and restaurants of the Titanic Quarter and the waterside area are just a stone’s throw away.”
This blend of good location for work and excellent local leisure and recreation facilities has proven a winning one for Property Frontiers’ investments in other UK cities, such as Liverpool. With young professionals flocking to the UK’s cities for work but either unable or unwilling to purchase a home of their own, luxury buy-to-let apartments in excellent locations are in hot demand by both tenants and investors. Now, with the perfect storm of a brisk market and low prices, Belfast is the latest city to be enjoying the prolonged and still growing buy-to-let boom.