On the Road to Recovery The Northern Irish Property Market has experienced the most dramati...
On the Road to Recovery
The Northern Irish Property Market has experienced the most dramatic bust and booms in history. With the recovery now underway, property prices are now starting to rise. The Northern Ireland Residential Property Price Index from the Northern Irish Statistics and Research Agency (NISRA) uses Stamp Duty information on residential sales from HMRC. Results indicate that ‘between Q3 2013 and Q3 2014 residential property prices increased by 7%’ (NISRA 9th November 2014). According to NISRA, Northern Irish Residential House Prices are 3% lower than Q1 2005.
Sales are Up!
With almost 5,100 verified residential properties sold in Q3 2014, NISRA reported a 21% increase on the number sold in the third quarter of 2013. The rise in both property values and the number of sales is encouraging news of growth in the property market since the market collapsed in 2008. We have noticed renewed interest from first time buyers in the new build and resale markets, investors purchasing both terraced / semi detached house types and families are able to trade up to larger detached property types.
Top Performers! Award Winning Team!
2014 ended in a high for Belvoir, scooping Gold, Silver and Bronze at the prestigious Negotiator Awards in London. The Negotiator Awards are widely recognised as the Oscars of the property awards industry, celebrating the best and highest achievers in the Residential property market. Earlier this year, Belvoir won the Gold Award for Lettings Franchise of the year at the Lettings Agency of the Year Awards. This was an amazing achievement for all of the team!
Launching Sales — New Team Member!
Using the benefits of an award winning agency, situated on a Prominent Position on Bow Street, it was a natural choice to progress into selling properties. Clients have reacted well and we have our first house on the market already! Belvoir Lisburn has a wealth of knowledge and experience in the sales and letting market. George Kingston has recently joined the team bringing with him ten years experience in estate agency. George has worked in three leading Northern Irish estate agencies including The Eric Cairns Partnership. He has also completed a Masters in Real Estate through Reading and is currently working towards his RICS for residential practice.
Use a Belvoir Letting Specialist!
There are many legislative and other issues to take into account but all Belvoir Lisburn are staffed by experienced, highly trained specialists who can advise on all aspects of property investment and management. We are happy to offer a free initial – no obligation – consultation to anyone wanting to learn more about how to become a successful property investor. And for those who do decide to invest their pension funds into property we can provide a full range of management and other services to ensure their new alternative pension investment is a trouble free one.
Changes in Stamp duty limits!
George Osbourne has said stamp duty will be cut for 98% of homebuyers in his Autumn Statement to the Commons. Under the new rules, no tax will be paid on the first £125,000 of a property, followed by 2% on the portion up to £250,000, 5% on the portion between £250,000 and £925,000, 10% on the next bit up to £1.5 million and 12% on everything over that. This is welcome news for homemovers and first time buyers.
Important Advice on Letting!
It is important for first time investors to buy property at the right price, in the right location and to identify the type of accommodation that people will want to rent from them both now and in the future. With our local knowledge we can look in detail at potential property ‘yields’ - taking into account all outgoings, such as maintenance costs - and provide novice investors with a realistic expectation on returns
SPECIAL INTRODUCTORY OFFER!:
FREE REGISTRATION PACKAGES - for any properties registered FOR SALE **For a limited period only**
Contact us today: 02892 679 020 www.belvoir.co.uk/lisburn