Directors at Northern Ireland estate agents Ulster Property Sales have said they anticipate a strong market this year as its 13th branch is launched.
Chris and Rachel Smyth (above) are opening at Donaghadee in Co Down, which they said reflecting the firm’s commitment to the demands of the market.
Surveys have shown an increase in Northern Ireland house prices in 2023, with Benham and Reeves reporting a 2.5% increase in the average price – contrasting with house price declines in England and Wales.
Ms Smyth, a director at UPS in Newtownards, said: “2023 was a very strong year for our 12 branches, in 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. director at the Ballyhackamore branch, added: “As we navigate into 2024, we are already seeing an uplift in business compared to the same period in 2023.
“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.”