Top 9 Areas in Northern Ireland for Housing Sales by the End of 2024
Northern Ireland’s real estate market is booming, with the top areas for housing sales by the end of 2024 recently unveiled in a new report by PropertyPal. The report showcases the nine most sought-after locations where property sales have surged, providing insight into the region’s housing market landscape.
Record-Breaking Sales and Rising Prices
According to PropertyPal’s latest quarterly report, housing sales in Northern Ireland saw an 11% increase compared to the same period in 2023. This surge in buyer activity was fueled by a 12% rise in newly listed properties for sale, with over 4,500 homes hitting the market in the last quarter of 2024. This influx of new listings helped meet the growing demand for housing and led to a significant uptick in market activity.
The average price of a home in Northern Ireland has also seen a notable increase, rising by 6.4% over the past year. This price growth was observed across all council areas, with Derry City & Strabane experiencing the highest rise at 12.3% year-over-year. In Belfast council area alone, house prices jumped by 8.5% in 2024, reflecting the overall upward trend in the region’s real estate market.
The Hottest Selling Areas
The areas of Northern Ireland that witnessed the highest number of properties sale agreed in the fourth quarter of 2024 include:
– 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, expressed optimism about the future of the real estate market, noting that buyer sentiment remains positive. He highlighted a 15% increase in search activity on PropertyPal and a rise in enquiries to estate agents, indicating sustained interest in the housing market.
Looking Ahead: Market Projections and Economic Outlook
While the economic landscape remains uncertain, recent positive inflation data has provided some relief to the Bank of England as they assess future interest rate movements. This positive development may lead to changes in mortgage pricing, potentially driving a busy first quarter for the real estate market. As the market continues to evolve, the coming months are poised to be dynamic and full of opportunities for both buyers and sellers alike.
