Despite the release this week of the University of Ulster Quarterly House Price Index and the associated commentary there is no doubt that there has not been a better time to think about buying or selling.
We have all seen the doom and gloom written about the housing market in recent times, the reality is that there are willing buyers where there are willing sellers. Recent evidence shows that despite there still being a large volume of unsold properties across the province, primarily due to what buyers see as unrealistic pricing, properties that come to the market in areas where demand exists generate immediate interest where they are priced accordingly.
Our belief is that the reported drop in property prices has mainly been the result of adjusted pricing by now realistic vendors. A positive development.
Loan to value ratios however remain a critical factor for mortgaged buyers, but where this criteria is met, property finance remains readily available and relatively easy to obtain. Confidence is key, continued economic uncertainty leads to less motivated purchasers but where properties are listed at realistic asking prices there are sales taking place.
Our belief is that 2012 will see continued improvement in the housing market locally and this will mean there has been no better opportunity in recent times to buy or sell.
Our property experts specialise in the sale, rental and management of properties across Northern Ireland from our offices in Belfast and Gilford and are delighted to assist with any property related matter.