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Total Stories: 30 Published: Thu, Aug 14, 2008

Come to town - estate agents

It has to be one of the bargains of the year. This fantastic five bedroom detached property set on an elevated site overlooking the Donegal hills is currently up for grabs with a guide price of just £220,000. It has has been newly built on a half acre site and extends to 3600 sq ft with underfloor heating downstairs. It comes with five ensuite bedrooms and is completed in traditional stone. An architectural work of genius and one of the nicest properties likely to come of the local housing market this year.

By Conor Sharkey

MADDENING, unrealistic and laughable.

Just three of the adjectives used by Strabane estate agents this week to describe the latest survey on house prices here.

Sellers were reacting to the findings of the University of Ulster's Quarterly House Price Index, which cites the current average house price in Strabane/Derry at £221,227. This, they claim, is influenced by the sale of detached houses.

The figures, released last week, cover the second quarter of 2008. According to survey author Professor Alastair Adair, the overall average price of a house in the North between March and June had dropped to £226,934. This showed a "dramatic change of sentiment" from a year previous, when house prices were going up on average at 51 percent when the market was at its peak.

The sharpest reduction was in semi-detached houses, down by 18.6 percent to £196,166, while semi-detached bungalows fell by by 12.5 percent to £181,040. The averages for both terrace and townhouses at £176,915 and for detached houses at £311,804 were down by 10.5 percent.

And while the figures no doubt are indicative of property prices across much of the North, they are far from reflective of prices here say local sellers. The main concern for Strabane's estate agents is that potential buyers or investors from outside the District could be put off.

Two local agents in fact are so concerned by the findings that they have challenged the authors of the report to come and see exactly what the 'average' house price of £221,227 will buy in Strabane.

In every property category, Strabane comes in well below the average.

In the North, an average semi-detached will set you back over £195,000. But here in Strabane you can easily buy a quality semi for little more than £100,000. And a detached house at £311,804? In Strabane, you could today buy a beautiful three bedroom detached in Altiskane for just £120,000.

Clearly the 'average' house price of £221,227 was influenced by the fact that Strabane and Derry are, for some reason, regarded as one entity.

So the Strabane Chronicle set to work to find out what you can buy for a spend of £220,000 in Strabane, and just how much that 'average' detached home costs.

Well according to Remax agent Tracey Harte, they impact greatly. Last month, Remax sold just ten properties, half the amount they sold twelve months earlier.

This week the Strabane Chronicle set out to find just what type of property £221,227 will get you locally. According to Mrs Harte, in the current climate you can expect to get a mansion.

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