Positive Property Market Signs In Portadown

Two Portadown estate agents have hinted at what may be the first 'tender shoots of recovery' in the local housing market.

Joyce Estate Agents, in the town, revealed a slight upturn in sales amid an ongoing slump in the number of property transactions. Managing Director Libby Clarke told the Portadown Times her firm had sold five off-plan houses - not yet developed - which she said would mean new work for local builders.

Ms Clarke said her agents had also experienced an increase in inquiries.

Williams Estate Agents has also noticed an increase in the number of people visit its offices.

However, Company Director Owen Matchett said potential buyers were still having difficulty securing mortgage packages, with many still unable to find the necessary deposit to complete a purchase.

"More people are coming into the office, we are getting more phone calls and people are even arranging viewings," he said.

Mr Matchett said he currently has four bidders for one property, an instance which he said hasn't occurred for many months.

He said increasingly competitive prices have stimulated the market.

Meanwhile, more bricklayers have moved on-site at Kernan Mill Manor, which is being developed by Antrim Construction.

According to the firm's Marketing Manager Rodney Agnew, two houses in the latest phase are already sold, which he described as "encouraging".

"We are employing bricklayers to start building houses, most of which we haven't sold yet," he said.

"But we are confident they will sell, and when we are selling houses, it is helping other businesses in Portadown."

Last year, Antrim Construction successfully launched a cut-cost offer, which saw 50% wiped off the price of some properties.

Nineteen homes were sold within two weeks of the promotion. Shortly afterwards a further eight townhouses were snapped-up when put on the open market.

(PR/BMcC)