Northern Ireland

We in CPS have been trading since 1987, we have five branches across the province along with a branch in Marbella and one in the Republic of Ireland.

I started the business and am privileged to have two very capable sons join me in the business over the past 10 years.

The property market in Northern Ireland has been buoyant since the end of the Covid period with a steady growth of circa. 5-6% per annum, steady growth is better than highs and lows I advise my team and clients alike.  In fact, only over the past 12 months can we categorically say that we are for once not seeing negative equity market appraisals come across our desks from the 2008 global property crash. We in Northern Ireland had a 65% market depreciation which was an incredible base to start from again for so many, especially those that purchased in 2005/2007.

Base rate impact

The low interest rates years have been very helpful to our market for that period of the market, we can now see the negative impact from the recent two years of constant Bank of England increases of base rate. This, along with high inflation has created lots of financial pressure for the consumer, we find this has impacted the first-time buyer the most.

Due to cost of building material and labour costs, lots of development ground is being sold off to assist the social housing marketplace, as there has been little to no Government lead investment in this sector for two decades (1995 – 2015). This is having an impact especially on first time buyers who cannot save a deposit as there is very little property to rent, therefore rents have gone up by an incredible 25% in some cases.

We have recently released a new development in Moy, which is located in the centre of Northern Ireland, one hour west of Belfast. These stunning Mock Georgian development has sold very well, with a property increase of 10% between first and second phase in the past 12 months.

This reaffirms a quality constructed and designed product in a good location properly market with the right agent, of course, will always sell.

Unemployment all-time low

We in Northern Ireland have reached an all-time record where unemployment has dropped to 2.1%, which is incredible for a state that has lots of small indigenous business and less than 20 employers with above 500 staff.

Approximately 14% of CPS Property buyers in the past 12 months are moving back to Northern Ireland from England, Australia and USA. We feel this is due to several factors, we have a high quality of education available in public schools, being able to work from home, be close to family for grandchildren support, not forgetting the average house price here is £164,590.00.

We feel the Guild Network has helped our positioning in the market to attract these buyers

CPS Property Group

164 Lisburn Road,

Belfast BT9 6AL

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• Average sales price: £164,590
• Average time on the market: NA
• Average rental price: NA
• Average commission on sales: NA