Now’s the time for a housing bargain

By Gemma Burns

North Belfast is one of the best places to buy a property as house prices in the area continue to fall, a local estate agent said this week.

Barbara Shanks from Shanks and Co Estate Agents on the Cavehill Road was speaking after the latest survey by the Royal Institution of Chartered Surveyors showed prices across the North are at their lowest since November 2010.

House prices in North Belfast are the lowest across the city and the estate agent said now is the time to buy in the area when prices are falling.

“If you have the finance this is the key time to get a bargain,” she said.

“There are a lot of repossessions going on and there are very good deals on homes out there. The thing is that people still need to buy a house for the same reasons they always did, getting married, upsizing or downsizing.”

The estate agent said the main issue is buyers being able to secure finance to buy the property they want.

“The demand is there but the problem for people is the lack of available credit,” she said.

“We have a lot of first-time buyers who want to buy in the area but the credit isn’t there for them. But I would say that if the finances are there this is a great time to buy in North Belfast,” added Barbara.

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