Housing Market Trends - PropertyPal.comN.Ireland prices: Q3 2020 “ The post-lockdown housing...
Transcript of Housing Market Trends - PropertyPal.comN.Ireland prices: Q3 2020 “ The post-lockdown housing...
Housing Market Trends:Q3 2020
PropertyPal: Housing Market Trends Q3 2020 | 2
Housing market overview: Q3 2020
Sales Rentals
Apartments
£128,600Apartments
£678p/m
Houses
£175,600Houses
£646p/m
Annual price growth Annual rent growth Annual price growth Annual rent growth
Quarterly price growth Quarterly rent growth
All properties
£171,300All properties
£657p/m
Annual price growth Annual rent growthQuarterly price growth Quarterly rent growth
1.1% 1.3% 1.8% 3.7%
2.1% 2.8% 5.6%
1.1%
-1.3%
1.4%
Quarterly price growth Quarterly rent growth
1.1% 1.7%
PropertyPal: Housing Market Trends Q3 2020 | 3
Prices by houses and apartments
£100,000
£200,000
£180,000
£160,000
£140,000
£120,000
Q3 202
0
Q2 202
0
Q1 202
0
Q4 201
9
Q3 201
9
Q2 201
9
Q1 201
9
Q4 201
8
Q3 201
8
Q2 201
8
Q1 201
8
Q4 201
7
Q3 201
7
Q2 201
7
Q1 201
7
Q4 201
6
Q3 201
6
Q2 201
6
Q1 201
6
ApartmentsHouses
Apartments
£128,600
Houses
£175,600
Annual price growth
Annual price growth
Quarterly price growth
Quarterly price growth
All properties
£171,300Annual
price growthQuarterly
price growth
1.1% 1.8%
2.1%
1.1%
-1.3%
1.4%
N.Ireland prices: Q3 2020
“The post-lockdown housing market has displayed considerable resilience. House prices have increased, engagement on PropertyPal is at an all time high and there were close to 7,200 properties sold in the last three months, an increase of 32% compared to last
year. The rebound in activity reflects several contributory factors including, stamp duty holidays, favourable interest rate environment, pent-up demand over lockdown and
behavioural shifts as buyers have revaluated their housing needs.
Emerging evidence shows wealthier demographics are driving demand as sales of 4 and 5+ bedroom properties have increased by more than 50% compared to this time last year.
PropertyPal: Housing Market Trends Q3 2020 | 4
new properties available to purchase in Q3 2020
more than the same period last year
6,776
12%
6,061houses
Location of advertised sales properties
Lisburn &Castlereagh
11%
Belfast
Belfast
21%
Armagh City,Banbridge
& Craigavon
10%
Ards &North Down
12%
CausewayCoast & Glens
9%
Antrim &Newtownabbey
8%
Mid &East Antrim
8%
Newry, Mourne& Down
7%
Derry City& Strabane
5%
Mid Ulster
5%
Fermanagh& Omagh
4%
New listings on PropertyPal
715apartments
PropertyPal: Housing Market Trends Q3 2020 | 5
House prices by number of bedrooms
Houses Average price Annual price growth Quarterly price growth
2 bed £105,400 6.3% 1.9%
3 bed £143,000 3.2% 1.2%
4 bed £234,700 1.1% 0.9%
5+ bed £328,900 -1.2% 1.1%
All houses £175,600 2.1% 1.1%
Apartments Average price Annual price growth Quarterly price growth
1 bed £94,400 2.0% 1.7%
2 bed £124,200 -0.4% 1.9%
3+ bed £198,000 -7.7% -1.3%
All apartments £128,600 -1.3% 1.4%
£50,000
£0
£100,000
£150,000
£200,000
£250,000
£300,000
£350,000
Q3 202
0
Q2 202
0
Q1 202
0
Q4 201
9
Q3 201
9
Q2 201
9
Q1 201
9
Q4 201
8
Q3 201
8
Q2 201
8
Q1 201
8
Q4 201
7
Q3 201
7
Q2 201
7
Q1 201
7
Q4 201
6
Q3 201
6
Q2 201
6
Q1 201
6
2 bed3 bed4 bed5+ bed 1 bed2 bed3+ bed
Q3 202
0
Q2 202
0
Q1 202
0
Q4 201
9
Q3 201
9
Q2 201
9
Q1 201
9
Q4 201
8
Q3 201
8
Q2 201
8
Q1 201
8
Q4 201
7
Q3 201
7
Q2 201
7
Q1 201
7
Q4 201
6
Q3 201
6
Q2 201
6
Q1 201
6
£50,000
£0
£100,000
£150,000
£200,000
£250,000
£300,000
£350,000
ApartmentsHouses
PropertyPal: Housing Market Trends Q3 2020 | 6
House prices across Northern Ireland
Derry City& Strabane
Causeway Coast& Glens
Fermanagh& Omagh
Mid Ulster
Mid & EastAntrim
Antrim &Newtownabbey
Belfast
Lisburn &Castlereagh
Armagh City,Banbridge & Craigavon
Newry, Mourne& Down
Ards &North Down
Belfastall properties£192,200
annual4.3%
quarterly1.7%
Antrim & Newtownabbeyall properties£158,600
annual0.7%
quarterly0.1%
Mid & East Antrimall properties£145,700
annual0.0%
quarterly0.6%
Causeway Coast & Glensall properties£164,000
annual� -3.7%
quarterly�0.3%
Derry City & Strabaneall properties£141,000
annual� -1.2%
quarterly�0.5%
Ards & North Downall properties£194,700
annual0.8%
quarterly3.1%
Lisburn & Castlereaghall properties£195,100
annual� -0.2%
quarterly� -0.3%
Newry, Mourne & Downall properties£176,800
annual5.1%
quarterly1.9%
Armagh City, Banbridge & Craigavon
all properties£146,300
annual3.0%
quarterly0.9%
Mid Ulsterall properties£145,500
annual1.9%
quarterly1.0%
Fermanagh & Omaghall properties£136,600
annual� -1.4%
quarterly� -1.2%
All properties
£171,300Annual
price growthQuarterly
price growth
1.1% 1.8%
Northern Ireland
PropertyPal: Housing Market Trends Q3 2020 | 7
+8%
+30%
+51%
+52%
% Change in house salesby number of bedrooms,
Q3 2019 vs. Q3 2020
2,000
0
4,000
6,000
8,000
Q3 202
0
Q2 202
0
Q1 202
0
Q4 201
9
Q3 201
9
Q2 201
9
Q1 201
9
Q4 201
8
Q3 201
8
Q2 201
8
Q1 201
8
Q4 201
7
Q3 201
7
Q2 201
7
Q1 201
7
Q4 201
6
Q3 201
6
Q2 201
6
Q1 201
6
Q4 201
5
Q3 201
5
Q2 201
5
Q1 201
5No. of ‘sale agreed’ properties by quarter, N.Ireland, 2015-2020
Sale agreed properties
32%higher than this time last year
No. of sale agreed properties
4/5 bedIncreasing proportion of sales of
houses compared to2/3 bed houses
PropertyPal: Housing Market Trends Q3 2020 | 8
Top selling areas across Northern Ireland
Area Sales Council Area
Causeway 275 Causeway Coast & Glens
Botanic 225 Belfast
Ormiston 209 Belfast
Lurgan 189 Armagh, Banbridge & Craigavon
Titanic 169 Belfast
Ards Peninsula 158 Ards & North Down
Newtownards 145 Ards & North Down
Bangor East & Donaghadee 145 Ards & North Down
Bangor Central 144 Ards & North Down
Holywood & Clandeboye 142 Ards & North Down
Lisnasharragh 136 Belfast
Ballyclare 127 Antrim & Newtownabbey
Craigavon 126 Armagh, Banbridge & Craigavon
Antrim 123 Antrim & Newtownabbey
Castle 122 Belfast
0
600
1,200
1,000
800
400
200
1,400 45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
Mid
Ulster
Ferm
anag
h & O
mag
h
Derry
& St
raba
ne
Newry
, Mou
rne &
Dow
n
Mid
& East
Antrim
Antrim
& N
ewto
wnabb
ey
Cause
way C
oast
& Glen
s
Lisbu
rn &
Cas
tlere
agh
Armag
h, Ban
bridg
e & C
raiga
von
Ards &
Nor
th D
own
Belfas
t
% change vs. Q3 2019 (RHS)Total sales (LHS)
Sale agreed properties in Q3 2020 by location No. of ‘sale agreed’ properties by detailed location
PropertyPal: Housing Market Trends Q3 2020 | 9
“
Rents by houses and apartments
Apartments
£678p/m
Houses
£646p/m
Annual rent growth
Aver
age
rent
per
mon
th
Annual rent growth
Quarterly rent growth
Quarterly rent growth
All properties
£657p/m
Annualrent growth
Quarterlyrent growth
1.3% 3.7%
2.8%
1.1%
5.6%
1.7%
ApartmentsHouses
£500
£600
£700
£650
£550
Q3 202
0
Q2 202
0
Q1 202
0
Q4 201
9
Q3 201
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Q2 201
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Q1 201
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Q4 201
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Q2 201
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Q1 201
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Q2 201
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Q1 201
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Q4 201
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Q3 201
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Q2 201
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Q1 201
6
The rental market has remained strong in the second half of this yearas demand levels have accelerated due to economic uncertainty.
Rents are increasing against a backdrop of falling incomes which is creating affordability pressures for many households. The labour market profile suggests the pending economic damage is likely to have a greater
impact on private renters than home-owners and this may lead to falling rents over the coming 6 months.
N.Ireland rents: Q3 2020
PropertyPal: Housing Market Trends Q3 2020 | 10
new properties available to rent in Q3 2020
less than the same period last year
2,575
-15%
1,075apartments
Location of advertised rental properties
1,500houses
Belfast
54%
Lisburn &Castlereagh
7%
Armagh City,Banbridge
& Craigavon
7%
Ards &North Down
6%
Mid &East Antrim
5%
Antrim &Newtownabbey
6%
Mid Ulster
4%
CausewayCoast & Glens
5%
Newry, Mourne& Down
3%
Derry City& Strabane
2% Fermanagh& Omagh
1%
New listings on PropertyPal
PropertyPal: Housing Market Trends Q3 2020 | 11
Rents by number of bedrooms
Houses Average rent p/m Annual rent growth Quarterly rent growth
2 bed £544 3.9% 0.9%
3 bed £619 2.4% 1.0%
4 bed £851 2.6% 1.6%
5+ bed £1,180 7.9% 1.8%
All houses £646 2.8% 1.1%
Apartments Average rent p/m Annual rent growth Quarterly rent growth
1 bed £534 5.4% 0.9%
2 bed £666 5.6% 1.5%
3+ bed £905 5.8% 2.9%
All apartments £678 5.6% 1.7%
2 bed3 bed4 bed5+ bed
£400
£600
£800
£1,000
£1,200
Q3 202
0
Q2 202
0
Q1 202
0
Q4 201
9
Q3 201
9
Q2 201
9
Q1 201
9
Q4 201
8
Q3 201
8
Q2 201
8
Q1 201
8
Q4 201
7
Q3 201
7
Q2 201
7
Q1 201
7
Q4 201
6
Q3 201
6
Q2 201
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Q1 201
6
1 bed2 bed3+ bed
£400
£600
£800
£1,000
£1,200
Q3 202
0
Q2 202
0
Q1 202
0
Q4 201
9
Q3 201
9
Q2 201
9
Q1 201
9
Q4 201
8
Q3 201
8
Q2 201
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Q1 201
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Q4 201
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Q3 201
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Q2 201
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Q1 201
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Q4 201
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Q3 201
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Q2 201
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Q1 201
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ApartmentsHouses
Aver
age
rent
per
mon
th
Aver
age
rent
per
mon
th
PropertyPal: Housing Market Trends Q3 2020 | 12
Rents across Northern Ireland
Derry City& Strabane
Causeway Coast& Glens
Fermanagh& Omagh
Mid Ulster
Mid & EastAntrim
Antrim &Newtownabbey
Belfast
Lisburn &Castlereagh
Armagh City,Banbridge & Craigavon
Newry, Mourne& Down
Ards &North Down
Belfastall properties£742p/m
annual4.1%
quarterly0.9%
Antrim & Newtownabbeyall properties£553p/m
annual0.7%
quarterly0.5%
Mid & East Antrimall properties£522p/m
annual� -1.0%
quarterly�0.1%
Causeway Coast & Glensall properties£543p/m
annual�4.6%
quarterly� -0.1%
Derry City & Strabaneall properties£556p/m
annual�1.1%
quarterly� -1.5%
Ards & North Downall properties£632p/m
annual� -0.6%
quarterly� -0.1%
Lisburn & Castlereaghall properties£655p/m
annual2.2%
quarterly1.3%
Newry, Mourne & Downall properties£553p/m
annual3.5%
quarterly1.5%
Armagh City, Banbridge & Craigavon
all properties£522p/m
annual1.8%
quarterly1.0%
Mid Ulsterall properties£512p/m
annual6.8%
quarterly0.9%
Fermanagh & Omaghall properties£489p/m
annual10.5%
quarterly4.7%
All properties
£657p/m
Annualprice growth
Quarterlyprice growth
1.3% 3.7%
Northern Ireland
Jordan Buchanan
@jbuchanan0707
PropertyPal Chief Economist
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@PropertyPal
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Methodology: The price and rental statistics are based on arithmetic averages of newly listed properties based on advertised asking price/rents in each calendar month. The price and rental indices produced are weighted to reflect the market share of each property type. The data has been cleansed to remove outliers and anomalies. This report is prepared from information that we believe is collated with care, but we do not make any statement as to its accuracy or completeness. We reserve the right to vary our methodology.