Housing market remains steady in Coalisland district

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The Housing Market has remained steady in the local area in the first half of 2014 according to local Estate Agents.

Daniel, from McGlone and McCabe Estate Agents in Coalisland spoke to the TIMES about the latest report released by RICS.

According to the report, ‘Northern Ireland’s housing market recovery was sustained during the first six months of 2014 and is set to continue into the second half of the year’.

This sustained period of growth seems to be reflected in the housing market in the local area as well.

Daniel said: “It does seem to be quite a sustained period of growth from what we have seen. The type of houses which are generally selling are repossesions, they’re obviously competively priced.

“In terms of private sales, depending on the sellers themselves if they are realistic enough about the market a the minute, then the houses will sell. It does look a bit more positive since the turn of the year.”

Looking ahead to the next six months, Daniel added: “I would imagine it would maintain itself in the next six months as well, I don’t think there will be any massive increases or anything but it should stay steady.”

RICS Northern Ireland spokesman, Samuel Dickey says: “With the Northern Ireland economy experiencing a strong first half of 2014, overall the housing market saw positive progress too.

“The evidence is that transactions and sales increased in the six months to the end of June and that we are steadily making progress away from the bottom of the market towards a more normally functioning property market.

“Whilst still gradual and uneven, the recovery has been stronger than anticipated, reflecting the better than expected economic performance. That said, we are still something like 50 per cent below peak prices.

“The market will experience seasonal adjustments in the months ahead, and there will regional variations, but overall we expect the recovery to continue.”