The Northern Ireland property market has received a boost with a flurry of activity from first time buyers, new research from property website Zoopla has shown. What beats a joyful walk on a crisp autumnal day after securing a new turnkey home!
Sales to this sector of the market have continued their 10 year growth trajectory, unlike in the rest of the UK where sales to first time buyers have been outstripped by home movers.
In Derry-Londonderry and Belfast, Braidwater has seen that the pent up demand following lock down earlier this year, combined with a package of new financial benefits for buyers, have helped to keep the local housing market moving forwards.
Darren Farnan, marketing manager from Braidwater, said:
“We have been really encouraged to see the housing market as positive as it has been during the last few months of this year, in the wake of the pandemic. New homes are selling fast and we are set to announce a further release of homes at Beech Hill View with more to come at popular sites including Castlehill in Belfast and Gleann Elagh in Derry.”
Earlier this year the chancellor announced a temporary holiday on stamp duty on the first £500,000 of all property sales in Northern Ireland. The changes were designed to keep the property market moving following the coronavirus pandemic.
“This has had a big impact on the local property market and we know that it will encourage more people to come out to view houses this year.
“As a business we have been finding new ways to help interested buyers to find their perfect homes in a smooth and hassle-free way. Recently we partnered with local solicitors firm MKB law to offer free and remote conveyancing as well as the first house builder in NI to offer part exchange on selected plots.’’