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

Average UK private rents increased by 9.0% in the 12 months to February The latest ONS data reveals a 9% rise in UK private rents within a year, with contrasting trends in house prices which saw a slight decline.

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

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

The UK Residential Market Survey is used by the government, the Bank of England and other key institutions, including the IMF, as an indicator of current and future conditions in UK residential sales and lettings. It is covered extensively in the media and is the leading source of market intelligence, highly regarded both by investors and across the industry. Who contributes? RICS professionals’ input into the survey is essential and gives us valuable information from across the UK. Taking part in the survey is quick and simple and you will receive full accreditation in our reports. Why contribute? • The survey represents a great opportunity to profile your own business with quotes from contributors regularly picked up by local and national media • Completing and reading the survey contributes 30 minutes of informal CPD each month • The commercial advantages from insight generated through the survey and access to the RICS Economics team for advice • Prestige from being involved in a market leading product created by your professional body When to contribute The survey is open for approximately two weeks towards the end of a month.

Why UK Rents Soar: The Inflation Hedge Explained We're exploring the significant rise in UK rents and their implications as an inflation hedge. With a severe housing shortage and high immigration, holding property may be more beneficial than cash or bonds in today's market. Discover the trends shaping the future of UK real estate. #UKRent #RealEstateTrends #HousingMarket

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

One Third Plan to Move Amid Optimism Under New Labour Government Research from Ready Steady Store reveals that one third of homeowners plan to move house in the next 12 months due to rising confidence in the UK property market. About 39% of consumers believe the market will improve under the new Labour government, with 35% reporting increased confidence and 31% 'somewhat confident' that new policies will aid first-time buyers. Mehran Charania, director of Ready Steady Store, attributes this confidence boost to Labour's proposed housing policies and a reduction in the Bank of England base rate, suggesting that many previously hesitant homeowners will now decide to move, potentially boosting the sector and economy. However, challenges remain, with a third of respondents identifying high interest rates and property prices as major obstacles to a healthy market. To know more about the latest UK property market news, get in touch with us today: 📞 +44 7758 128302 📲 +44 7495 071113 📧 [email protected] 🌐 https://lnkd.in/eHfVyned #ukrealestate #ukpropertynews #propertynewsweekly #downtowninternational #marketupdate #ukrealestateconomy

"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."