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In recent years further to the Good Friday Agreement and diverse investment schemes, Belfast has seen exponential growth across the whole city, restructuring itself as a key regional investment hub within the United Kingdom.
In recent years further to the Good Friday Agreement and investment in the city, Belfast has seen exponential growth with tourism, new business, and vast city improvement schemes. With all these improvements and so much more to offer, the reputation of the city of Belfast has very much improved, so much in fact that it has been put on the radar of many property investment circles. Bursting with life and vibrancy, the robust market growth seen in Belfast is showing no signs of slowing down.
Local authorities in Belfast have been extremely proficient at providing good quality housing stock to accommodate the demand growth in the city as the population continues to increase. As a result, property has remained relatively affordable, and many price inflation issues have been avoided, unlike what has been seen in Dublin.
Despite houses being supplied at similar rates to demand, there is a distinct need for high-quality rental accommodation for the growing student, young adults, tourists and other ‘lifestyle renters’.
This situation presents a clear opportunity for property investors, particularly those with smaller budgets looking to attain reliable and high yields in a region with incredible capital growth potential. Entering the market with a repossessed house only adds to this opportunity, with many properties we list being up to 30% below market value, giving you the opportunity to maximise your equity and profit margins from day one.
Despite being a city that tops regional statistics for yield, growth, prices and rents, local agents have reported that in the rental market in Belfast has largely been untouched by UK mainland investors. This has created a golden opportunity for this interested in a strong property investment.
Northern Ireland as a whole came in second in he UK for gaining back investment, at 18.9 years, and Belfast the second-best city at 15.8 years. With such great recoupment of investment, Belfast represents an excellent opportunity and alternative for investors who may be based outside of Northern Ireland.
Another important thing to consider if you are interested in investing in repossessions in particular, is that the repossession rate in Northern Ireland is very high compared to the rest of the UK.
Figures reported in the Belfast Telegraph revealed a huge rise in Northern Irelands repossession rates in recent years, with over 6,000 repossessed homes and properties coming to market between 2007-2014 alone. These rates are far higher than anywhere else in the UK.
These findings were reinforced in 2016 by the Mortgage Service Company HML, who stated that in 2016 around 0.27% of residential mortgages were on course to result in repossessions. This worrying figure has held true in recent years, with Belfast seeing extremely large rates of repossessions.
Considering these points, there is a clear opportunity to enter Belfast lucrative property investment market and there is no better way to do so than through a repossessed property.
Our sourcing team continually uncovers some of Belfast’s most highly desirable repossessed properties, providing our clients with exclusive access incredible below market value property deals. subscribe today to have a look at our regularly updated database of repossessed properties in Belfast.
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