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Commuters drawn to Belfast property prospects
28/03/2008
Solicitors and other professionals who normally commute to Belfast have been giving up their cars in favour of moving to the Northern Irish capital, it has emerged.
Property experts attribute the development to more attractive prices cropping up in the city, compared to areas to the south and east such as the Lagan Valley and Lisburn.
Alastair Adair, co-author of the Northern Ireland Quarterly House Price Index, told the Times that the costs of fuel and a reduction in the size of the average household are also key factors in the move back to Belfast.
"The market for apartments has grown astronomically in the past ten or so years," he noted.
"Back then it was only four per cent of the market, now it holds 44 per cent," he added.
Mr Adair went on to point out to the newspaper that Lisburn's average house price stands at around £285,000, compared to £225,000 in the capital and just £179,000 in west Belfast.
He suggested that with the input of "a few enterprising developers" and solicitors who know the area well, Belfast's potential can be fulfilled.
Earlier this year, buy-to-let expert Claire Gascoigne singled out new city centre developments - such as Sirocco Quays - as a key component in Belfast's increasing attractiveness to erstwhile commuters.
Visit our residential property services page
Property experts attribute the development to more attractive prices cropping up in the city, compared to areas to the south and east such as the Lagan Valley and Lisburn.
Alastair Adair, co-author of the Northern Ireland Quarterly House Price Index, told the Times that the costs of fuel and a reduction in the size of the average household are also key factors in the move back to Belfast.
"The market for apartments has grown astronomically in the past ten or so years," he noted.
"Back then it was only four per cent of the market, now it holds 44 per cent," he added.
Mr Adair went on to point out to the newspaper that Lisburn's average house price stands at around £285,000, compared to £225,000 in the capital and just £179,000 in west Belfast.
He suggested that with the input of "a few enterprising developers" and solicitors who know the area well, Belfast's potential can be fulfilled.
Earlier this year, buy-to-let expert Claire Gascoigne singled out new city centre developments - such as Sirocco Quays - as a key component in Belfast's increasing attractiveness to erstwhile commuters.
Visit our residential property services page
