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Strabane houses cheapest in the North

FIGURES released show the average price of property in the Derry and Strabane District to be the lowest out of all council areas in the North.

In the fourth quarter of last year, Derry City and Strabane District had an average standardised house price of £116,690. This was closely followed by Armagh City, Banbridge and Craigavon District (£117,055) and well below the highest priced council area, Lisburn and Castlereagh (£152,427).

Local estate agent Eileen McGarrigle feels this is to do with average incomes in the town.

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“Overall, incomes tend to be lower in Strabane which has an impact on house prices. This said, steady increases in price have been evident.”
 
Despite being the lowest priced in the North, according to the figures property prices in Derry City and Strabane saw an increase of 8.8 per-cent in 2017, the largest increase out of all council areas.

“This is very reassuring,” Eileen commented. “While house prices haven’t gone through the roof in Strabane, they have increased steadily.
This is due to the amount of new builds in the Strabane area, which are generally priced higher than older houses. This has served to increase overall figures.”

In regard to the saleability of houses in Strabane, Eileen feels “the demand is certainly there.”

“There is certainly demand in the town. New houses in Bracken Hill have all been sold, and only a limited number of houses are still available at Bradley Way. As well as this, rent to own is becoming more popular as is shared ownership.”

Strabane’s latest housing development, the 65-dwelling Evish Square at the former Our Lady of Mercy school site, has the potential to further increase house prices in the town. 

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The Strabane Chronicle is published by North West of Ireland Printing & Publishing Company Limited, trading as North-West News Group.
Registered in Northern Ireland, No. R0000576. 15 Main Street, Strabane, Co. Tyrone, Northern Ireland, BT82 8AS