Ulster Property Sales directors Chris and Rachel Smyth say they anticipate “a strong property market” in 2024 as they prepare to launch the 13th branch in Donaghadee, underscoring the firm’s commitment to meeting the growing demands of the market.
It comes as a report published in December by Benham and Reeves examining house price growth at regional and local levels underscores Northern Ireland’s strong performance in 2023, showcasing a 2.5% rise in average house prices and typical gains of £4,406 in housing stock.
This growth starkly contrasts with the trends in England and Wales, where house prices experienced declines of 1.1% and 2.4%, respectively.
Rachel Smyth said “2023 was a particularly strong year for our 12 branches in terms of new listings, sales and rentals, and our team is already witnessing an upward lift in enquiries, valuations, and listings for the year ahead.
“As we move into 2024, we are preparing to launch our 13th branch in Donaghadee, an area which has seen very strong growth for us.
“We are still experiencing a lot of people relocating back to Northern Ireland due to the affordability, the excellent education system and quality of life on offer here.
“The lower, mid and higher-end markets all performed very well, with many houses experiencing an above-listing price sale, with multiple offers. This is a trend we believe is set to continue.”
Chris Smyth added: “The timing for prospective sellers is very strong. Northern Ireland’s positive trajectory in house price growth, coupled with reduced market stock and enhanced buyer confidence following recent interest rate stabilisation, positions the local market favourably for those contemplating property transactions.”
