Sherry FitzGerald’s Post

📊 Northern Ireland Residential Market Overview 📊 We are delighted to share our latest research findings on the current trends in the Northern Ireland property market. Our November 2024 report provides an overview of market performance across various regions and buyer trends. Interestingly, a comparison with pre-pandemic output levels shows that the Northern Ireland economy has outpaced the UK economy in the intervening period. In quarter two, output in Northern Ireland was 8.1% above the pre-pandemic level. Prices continued to trend upwards in the Northern Ireland market with average standardised prices rising by 3.6% during the second quarter of 2024 to reach £185,025 according to the latest NISRA House Price Index. On an annual basis this represents a 6.4% increase. Looking to the future, lower borrowing costs are expected to further stimulate demand, however supply looks likely to remain below market requirements for the short term, which will continue the upward trend on house prices prices going forward. 📈 For more information on the report, please visit: https://lnkd.in/e5Tg95kh 👉Or to read more, visit our website: https://lnkd.in/eHCXNrXc

Inflation has had a significant impact on the UK private rental sector since 2022, pushing rents up year-upon-year at often record levels and straining tenant finances. While some signs point towards a slowdown in rent increases, the main factors causing the shortage remain unchanged and affordability concerns persist. It is generally accepted that we have seen the peak in terms of those increases with growing confidence that the rate at which rents rise will drop, mirroring the UK’s Consumer Prices Index (CPI) linked inflation rate. The next 12 months will depend on various factors, including the UK’s economic performance and potential policy changes after July 4th. Monitoring rent data and government actions will be crucial for understanding the sector's future trajectory. #a3onlineuk #insurance #claims #inflation #privaterentalsector #property

Inflation has had a significant impact on the UK private rental sector since 2022, pushing rents up year-upon-year at often record levels and straining tenant finances. While some signs point towards a slowdown in rent increases, the main factors causing the shortage remain unchanged and affordability concerns persist. It is generally accepted that we have seen the peak in terms of those increases with growing confidence that the rate at which rents rise will drop, mirroring the UK’s Consumer Prices Index (CPI) linked inflation rate. The next 12 months will depend on various factors, including the UK’s economic performance and potential policy changes after July 4th. Monitoring rent data and government actions will be crucial for understanding the sector's future trajectory. #a3onlineuk #insurance #claims #inflation #privaterentalsector #property

We have all woke to the news about the latest economic assessment in the UK. In a nutshell, the UK was in a technical recession at the end of 2023 (two consecutive quarters of negative growth) and in NI it seems our Q3 2023 results prevented a similar assessment here. News like this usually results in clients/connections reaching out and asking for advice on what this means for the property market here. The average rental costs in NI have increased by 40% over the last 7-8 years since 2016. Rents in Belfast have increased on average to over £900 per month which is a very good hedge against inflation for investors and landlords in the city even if inflation persists another while. I genuinely believe we are going to have growth in NI across all sectors in the next couple of years. #positivity #economics #property

"European house prices fell for the first time in a decade last year, as strong growth in the property markets of some eastern and southern countries was masked by declines in many northern EU states. Residential property prices fell 0.3 per cent in the EU in 2023 and 1.1 per cent in the eurozone, according to data from Eurostat on Thursday. Germany’s housing market was one of the worst hit with a decline of 8.4 per cent on an annual basis, second only to Luxembourg with a 9.1 per cent drop. It was followed by Finland on 5.6 per cent and Sweden on 5.3 per cent. Yet prices surged in some countries, including Croatia, Bulgaria, Lithuania, Poland and Portugal, where they rose between 8 and 12 per cent. Economists said stronger economic growth in southern and eastern European countries in recent years had helped their housing markets to keep rising, while core countries — such as Germany and France — had suffered from stagnant or weak growth."

Did you know that... 💡💡💡 The UK property market is poised to exceed expectations, with forecasts indicating a 3% increase in property prices for 2024, contrary to earlier predictions of a decline. This upturn is driven by a combination of factors including economic expansion, wage patterns, and declining unemployment rates, which are instilling confidence among investors and shaping a positive outlook for the UK property market in 2024. #VAlignedServices #YourVirtualAssistants #ukpropertyinvestments

Are residential sales and property prices in the UK set for a positive turn? Increased confidence aligns with expectations under the newly elected Labour Government, aiming to enhance the housing market. https://lnkd.in/egRtHv3p #EconomicOutlook #PropertyInvestment #UKHousingMarket

UK landlords are seeing a surge in tenant demand as fewer properties are available in the private rented sector. With the average UK rent climbing by 7.2%, the market is feeling the squeeze. Learn more about the trends driving up rents and the challenges for both tenants and landlords. #UKRentals #propertymarket #tenantdemand #housingcrisis https://lnkd.in/gNBrThjP

The latest official government rent index shows that average private rents across the UK as a whole increased by 9.2% in the 12 months to March 2024. This is a small rise from 9.0% in the 12 months to February 2024. https://lnkd.in/e8YKwkAj #landlordsuk #propertyinvestorsuk #RentalIncome #rentalmarket

🏠 UK House Price Growth Takes a Dip: What's Behind the Shift? The UK housing market is experiencing a slight slowdown in growth. According to Nationwide, average property costs fell by 0.4% last month compared to March, resulting in an annual growth rate of 0.6% instead of the expected 1.6%. So, what's causing this dip? Economists had predicted a 0.2% month-on-month growth, but the reality is different. Nationwide's report points to "ongoing affordability pressures" and the rise in longer-term interest rates in recent months, which have reversed the significant drop seen earlier this year. #UKhousingmarket #housepricegrowth #economy #realestate