Despite the current stabilisation of the housing market across Northern Ireland the Rental Market in east Belfast has never been stronger.

The east Belfast office of lettings specialists Belvoir Lettings has recently come under the new management of Andrew Jack and Craig McCracken. The move represents an expansion of portfolio for the duo who also own the Ormeau Road office of the specialist lettings company.

Andrew Jack comments: "There is little doubt that house prices are stabilising in Northern Ireland however rental incomes are actually on the increase. Renting is the preferred option for those would be buyer purchasers reluctant to buy in an unstable market, while many residential property owners are turning landlord as a mid-term solution while they also anticipate the market. The good news is that landlords are enjoying a healthy increase of around 5-10% in the average rental income as compared to last year depending on the property."

-- Advertisement --

According to Andrew, demand is particularly for quality two and three bedroom residencies with most properties becoming let almost as soon as they hit the market.

There is over £1 billion ear-marked for the development of the Titanic Quarter over the forthcoming 15-20 years. As the George Best City Airport gains greater importance it is anticipated that the east of the City will become the gateway into Belfast and Northern Ireland, and demand to reside in the area will continue to rise.

(JM/SP)