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Buy to Let Property Prices in Northern Ireland

House prices in Northern Ireland look set for continued growth in 2015 while the number of people...

House prices in Northern Ireland look set for continued growth in 2015 while the number of people choosing to rent – either for lifestyle or economic reasons – is expected to drive up tenant demand.


Many property investors benefited from some sort of recovery in house prices in 2014 with prices in Northern Ireland rising by around 9%.  Many areas in the UK achieved increased values of between 5 and 10 per cent.


During 2015 there will be a number of variables that are likely to impact on the property market. These include pension reforms due to come into effect in April 2015, the General Election in May and the impact of a possible interest rate rise which some predict could happen towards the end of 2015. 


Increasing optimism combined with a recovering property market and current low interest rates continue to make buy to let property investment an attractive proposition – especially for longer-term investors.


In September 2014 the Council of Mortgage Lenders reported a sharp rise in buy to let investment - up 26 per cent over the previous 12 months, and a recent study claims that over half of residential property landlords in the UK are looking to buy more property over the coming year.


All of these findings point towards continuing confidence amongst professional landlords and institutional investors, but the much debated impact of a new breed of ‘buy to let pensioners’ entering the market will only become clear after the new pension rules come into effect in April.


It is expected that a considerable number of pensioners will take advantage of changes to the pension rules to access cash in their pension pot and many of those may seek greater returns on their investments by purchasing buy to let property. If you are considering this route, we recommend you research all the facts thoroughly.


Property rental income should not be viewed as a replacement for pension income as the two are completely different. Pension income tends to be low risk and index linked to rise with inflation whilst rental income can be more risky and typically does not grow in line with inflation.


If you are thinking about using your pension pot to invest in property we would urge you to take advice from local experts who know the property and rental market. Belvoir Belfast can provide you with information to help you make an informed decision. 


If you are interested in starting a property portfolio or adding to your existing portfolio we would love to hear from you. Get in touch and we’ll be delighted to discuss the current market and the opportunities that exist. Our knowledge of the market in Belfast is based on years of experience that we would love to share with you. Call us on 028 9022 8409 or email us to book a free market appraisal today.

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