The Londonderry (Derry) housing market in Northern Ireland has been gaining attention from investors due to its affordability and stable growth. But is it a good investment? Let’s explore current property prices, market trends, and investment potential.
Current Property Prices in Londonderry
As of Q3 2024, the average house price in the Derry City and Strabane district is £188,042, reflecting a 0.6% increase from the previous quarter.
The average property price in Londonderry itself is £195,656, broken down as follows:
- Terraced houses: £185,720
- Semi-detached houses: £212,432
- Flats/Apartments: £75,000
These figures show a 3% increase compared to 2022’s peak of £190,006.
Market Trends and Historical Data
Londonderry’s property market has shown resilience despite fluctuations:
- 2021 Peak: Average house price was £259,492
- 2024: Prices remain 13% higher than in 2021, despite a slight decline in the last year.
How Does Londonderry Compare to Other Areas?
Londonderry remains one of the more affordable housing markets in Northern Ireland:
- Derry & Strabane: £188,042
- Northern Ireland Average: £219,110
This affordability makes it an attractive option for first-time buyers and investors alike.
Is Londonderry a Good Investment?
✅ Pros:
- Affordable Prices: Lower property costs compared to the UK average.
- Stable Growth: Moderate appreciation rates over recent years.
- Strong Rental Demand: Growing population and university presence.
⚠️ Cons:
- Economic Factors: Local job market fluctuations could impact demand.
- Market Variability: Prices have experienced dips in the past.
Final Verdict
Londonderry offers solid investment potential, especially for those seeking affordable properties with steady appreciation. However, investors should conduct thorough research and consider working with local real estate experts before making a decision.
Thinking of Investing in Londonderry?
If you’re considering property investment in Londonderry, connect with local agents or browse available properties on Rightmove or Zoopla to get the latest deals!
