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Demand increases for property in Mid-Ulster says Best report

Best Property's (from left) Daragh Mallon, Conor Mallon and Samantha Thompson
Best Property's (from left) Daragh Mallon, Conor Mallon and Samantha Thompson Best Property's (from left) Daragh Mallon, Conor Mallon and Samantha Thompson

DEMAND for property in Mid-Ulster, residential and commercial, is running at a near all-time high, according to agents Best Property.

Its first-quarter review for Dungannon and South Tyrone reveals a steady demand for new build properties continuing and an increase in supply of new properties coming on to the market coinciding with the onset of summer – commonly the busiest listing period for agents.

Despite uncertainty around Brexit, first-time buyer demand is strong, while employment levels remain high and the option of purchasing a house tends to be cheaper than renting on a monthly basis, Best says.

"First-time buyer numbers have almost doubled in the past 10 years across Northern Ireland, and last year more buyers bought homes for the first time than existing owners moved to a new house," according to Conor Mallon from Best Property Services Dungannon.

"Competitive mortgage rates, availability of finance and government schemes such as co-ownership have all boosted activity from those looking to get their foot on the ladder."

He added: "There is a particularly good demand for properties in Dungannon town. The main factor in my opinion is the availability of employment, with the engineering and agri food sectors being strong in south Tyrone."