The property market in Belfast is particularly buoyant at the moment and there is no sign that the property market will do into decline over the next year, according to local experts.
A spokesperson for estate agent Gerry O'Connor said, "Price rises in south Belfast in particular had been "dramatic" over the past 12 months, with growth of between 25 and 50 per cent reported."
Over the past year, property prices in Northern Ireland has seen strong growth, something which has been documented in many market reports. According to the latest government data, annual house prices in Northern Ireland stood at 42.5 per cent in January 2007.
The Belfast based estate agent said, "Price trend in Belfast's properties was still an upwards one and that property in the southern part of the city, close to Queen's University, were the best for buy-to-let investors, as this was where students and young professionals wanted to live."
"Very few two-bedroom properties in south Belfast were selling for under £200,000, he added, with homes this size sometimes selling for up to £300,000."
"The buy-to-let market over the last year has been the thing that has buoyed the market and there are still quite a number of investors about so we still think that market is sustainable," the spokesperson commented.
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