New homes snapped up in Magherafelt as property market rises

Construction
Construction

New homes in Magherafelt are selling fast - even before they have been advertised or marketed, a local estate agent has said.

Shaun Burns, Principal of Burns & Co in Magherafelt, told the Mail demand for new build property has returned to ‘normal levels’ and he is confident that this trend would strengthen in the year ahead.

Eight out of 17 units at Regents Manor on the Hospital Road have been sold, while dwellings at Piney Way, off Ballyronan Road, are also selling fast.

“2015 has again seen strong year on year growth with excellent demand for new and starter - full turnkey - homes throughout the area,” he said.

In recent weeks buyers have snapped up houses in new developments at Farm Lodge, Mullaghboy, where 11 dwellings have already been sold and four others booked in phase two of the plan.

Eight out of 17 units at Regents Manor on the Hospital Road have been sold, while dwellings at Piney Way, off Ballyronan Road, are also selling fast.

Property prices for Mid Ulster area have been averaging around £150,000.

Mr Burns said all the signs point to further and increased demand.

He said a confidence had returned to the market after a period when development in Magherafelt was stifled by indecision over the Area Plan.

He stressed that new buyers were being drawn to the area, in particular Magherafelt, because of the choice of property and amenities available to them.

Mr Burns believes the most important thing for new home buyers is choice - property type, price and finish.

“Magherafelt is a desirable area to live,” he went on. “It has a good shops, there are few vacant shops on the streets and when they are let they go to good tenants.

“It also has excellent schools and first class sports facilities which many people are attracted by.

“The town is also in a central location for commuters and this will be further enhanced with the completion of the Magherafelt bypass and A6 Randalstown-Castledawson dualling scheme.”

He feels that this is the time to buy: “We have seen price rises each year over the last two years and confidently expect this to continue. Rises of between 5% and 8% per year (back to the pre-boom) days are not I feel unrealistic.”