The top Northern Ireland areas for housing sales at the end of 2024
The top areas for housing sales in Northern Ireland at the end of 2024 have been revealed in new figures. PropertyPal's latest quarterly report details the nine top selling areas, with agreed sales up 11% compared to the same peiod in 2023.
The report said buyer confidence in October, November, and December last year was supported by a 12% rise in newly listed properties for sale, with 4,527 homes added to the market during the quarter, helping to meet demand and contributing to heightened market activity.
Compared to last year, the price of an average home in Northern Ireland has increased by 6.4%. The price growth was observed across all council areas on both a yearly and quarterly basis, with Derry City & Strabane experiencing the highest rise as average prices increased by 12.3% over the year. In Belfast council area, house prices increased by 8.5% in the year.
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Newly listed properties for sale increased by 12% over the past year. The average home now costs £221,000, marking a 6.4% annual increase and a 1.7% rise over the past three months. There were approximately 5,700 newly agreed sales at the end of 2024, an 11% increase compared to last year.
The typical time to find a buyer has also improved, now averaging 47 days, down from the long-term average of over 60 days.
The areas of Northern Ireland with the most properties sale agreed in Q4 2024
Titanic, Belfast: 188
Botanic, Belfast: 171
Ormiston, Belfast: 153
Lurgan: 143
Lisnasharragh, Belfast: 141
Craigavon: 136
Castlereagh South: 128
Newtownards: 124
Bangor Central: 118
Jordan Buchanan, CEO of PropertyPal, said: "Looking ahead, buyer sentiment remains positive, with search activity on PropertyPal up 15% and enquiries to estate agents increasing at similar levels. While the broader economic backdrop remains uncertain, recent positive inflation data should offer some relief to the Bank of England as they consider future interest rate movements. How quickly this translates to changes in mortgage pricing remains to be seen, but early indicators suggest a busy Q1 for the market."
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