<div class="page traditional" style=" background-color: #fff; "> <article> <header> <h1 style=" font-family: 'Cookie'; color: #6aa84f;">Property News...</h1> <p class="byline"> </p> </header> <div class="main"> <img src="/uploads/531f761ea927f.jpg" class="title-pic" alt=""/> <p class="summary" style=" color: #6aa84f;"></p> <h2>Local estate agent believes property investment to now be “as safe as houses”</h2><p>When the property market crashed, Northern Ireland suffered immensely. Property prices dropped dramatically, negative equity became the norm and for those looking to get on the property ladder, first time mortgages were virtually non-existent.</p><p>Thankfully in recent months, things however have slowly began to show signs of recovery.</p><p>DubBelin caught up with leading local estate agent John Minnis to discuss how far the seeds of recovery have grown.</p><p>John currently has three offices in Holywood, Belfast and Donaghadee, dealing with sales, lettings and property management so there’s no one better authority to give us the low-down on the local property scene.</p><p>The core areas John deals with are Greater Belfast, North Down and the Ards Peninsula. However the company has been expanding into the Southern Ireland market recently with holiday properties in Donegal and a converted church in Kilkenny.</p><p>John tells me: “Right across Northern Ireland the market has improved in the past 12 months. The hotspots are Belfast centric but we are beginning to see this filter out.</p><p>“We have recently experienced sales in South & East Belfast, where properties have been listed and within three weeks, have climbed to around £40-60,000 above their asking price.</p><p>“The reasons for this include a greater appetite and confidence in the market, as well as improved prices and increased availability of mortgages. English lenders have come back into the market again and are forcing local high street lenders to be more competitive with better deals and products.</p><p>“The greater availability has led to a re-engaging market and we are now seeing instances of demand outstripping supply. This year we have certainly witnessed tangible rises in prices.”</p><p>With recent financial experts suggesting the Northern Ireland market was taking longer to recover than other parts of the U.K., John admits that we are witnessing a “slow and steady market” with “upward progression”.</p><p>He added: “We now have two diverse marketplaces, we’re no longer ‘home ownership’ obsessed. The rental market is now much more in tune with the rest of the U.K., Europe and the continent.</p><p>“Renting a property is a great idea if you are not totally certain about job prospects or if you don’t plan to stay in one place long-term. It’s a very wise option which offers more independence. It’s a lifestyle choice which also provides a sense of security.”</p><p>Looking at the buy-to-let market, John believes it is a viable method of income again. “If you’re planning to invest in property, now is the time to do it”, he explains.</p><p>“There’s a great yield opportunity in terms of monthly rental and yearly capital growth. For instance buy a property at £100,000 and rent it out for £600 p/m, with a 5% capital growth, there’s a yearly profit of around £12,200. That equates to over 12% yield.</p><p>“This is exactly the right time to invest cash as property is, pardon the pun, as safe as houses!”</p><p>With recent changes to the buy-to-let legislations, there is greater security offered to both the tenant and the landlord. John Minnis property management look after all this red-tape which helps remove any stress, whether you’re letting a property or renting it.</p><p>“The property management side of our business has grown, we take away the legal headaches, such as landlord registration, tenant deposits, tenancy fitness etc. In the past year, this has grown by ten/twenty fold.”</p><p>For those fortunate enough to have a spare few thousand lying around, John suggests investing in property as the best return for profit.</p><p>“Finance needs to be invested in property, either to let out or sit on it. My advice would be to buy in vibrant areas close to infrastructure. However it doesn’t really matter where you buy as the growth will continue to filter out. Investing in property really is a no brainer.”</p><p>A great deal of John’s business in recent times has also come from corporate rentals, including high profile clients such as Citigroup and New York Stock Exchange. He has also looked after rentals for those recording in film studios around the Titanic Quarter.</p><p>Taking all this into consideration, John has plenty of reasons to be optimistic for the future.</p><p>He added: “Indications are that economic factors are looking up. Job insecurity has settled a little, there’s greater availability of funds and it’s getting easier to obtain a mortgage as more lenders are opening their doors to the local market.”</p><p>If someone like John is seeing these bright signs, then there’s definitely reason for all us to take a positive outlook in terms of buying or selling property. 2014 might just be the year to do so.</p><p><em>*John Minnis offer free independent financial advice for those thinking of buying, selling or renting property. For more information visit <a href="http://www.dubbelin.com/2014/03/07/local-estate-agent-believes-property-investment-to-now-be-as-safe-as-houses/www.johnminnis.co.uk">www.johnminnis.co.uk</a></em></p> </div> </article> </div><!-- /page-->