According to the latest quarterly figures for Q3 2011  landlords in the city are now charging an average £590 a month, little changed on the same period a year ago.

Chart_rent v house price index

Belfast rent prices hold up as house sales sag is a post from: Citylets News

Technorati Tags: Belfast Rents, citylets, Citylets Rental Report, Q3 2011, residential lettings; citylets

Our Belfast lettings report is the fifth since it was launched at the beginning of 2010 , and the average rent paid across all property types at the end of March 2011 was £567- up from £544 a year ago.  The average monthly rent for a one-bedroom apartment was £492 against £456 at the end of March last year, while the average monthly rent for a two-bedroom apartment grew by almost 3% to £587.

This rental growth is in marked contrast to the housing sales market which has experienced a steady decline in average prices since August 2007.  The chart below illustrates the comparative stability of rental values to house prices since 2008.

The Citylets Belfast Quarterly Report Q1 2011 is a post from: Citylets News

Technorati Tags: Belfast Rents, citylets, Citylets Rental Report, Rent Report, residential lettings; citylets

http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/cold-helped-keep-lid-on-rents-15079049.html

http://www.build.ie/construction_news.asp?newsid=122718

The overall Time to Let (TTL) for the greater Belfast Area lengthened in Q3 to 56 days which seems to have led to a softening of overall rent values in Q4.  Encouragingly though the TTL figures dropped in Q4 2010 to 48 days which bodes well for rental values in Q1 2011.

To download your copy of the latest report visit http://www.citylets.co.uk/reports/

The Citylets Belfast quarterly report Q4 2010 is a post from: Citylets News

Technorati Tags: Belfast Rents, citylets, Rent Report

Key findings from the report include a more than 7% rise in average monthly rents from the beginning of 2010 Q1 (£544) to Q3 (£564)  though year on year figure represented  a slight decline of 0.5%.  However, the time it takes a landlord to let a property has increased by 8 days during the third quarter to an average 56 days.  This suggests that while the demand for PRS is increasing there is still a plentiful supply of private rented stock which is providing tenants plenty of choice.

To download your copy of the latest report visit http://www.citylets.co.uk/reports/

Belfast Rental Report Q3 2010 is a post from: Citylets News

Technorati Tags: Belfast Rent

Key findings from the report include a 3.7% rise in average monthly rents from Q1 (£544) to Q2 (£564)  though this  represented an annual decline of 6.6%. However, the average time it takes a landlord to let a property has continued to fall over the year for all property sizes.

To download your copy of the latest report visit http://www.citylets.co.uk/reports/

Belfast Rental Report Q2 2010 is a post from: Citylets News

Technorati Tags: Belfast Rents

Key headlines from the report which was published last week are an annual drop of 6.2% in average monthly rents in the first quarter of this year to £544. However, the average time it takes a landlord to let a property has come down significantly over the year, which suggests the over supply problems seen in some areas might be resolving themselves. For example, one-bed properties are now taking an average of 38 days to let, some 23 days less than a year ago.

Our map guide to the most and least expensive areas in Belfast was particularly popular:

Copies of the Belfast report can be downloaded here:  Citylets Rental Report

Launch of Citylets Report in Belfast is a post from: Citylets News

The credit crunch has made it far tougher for first time buyers to get on the property ladder so they are tending to stay in the private rented sector (PRS) for longer. We have seen increased NI traffic on the Citylets network throughout this period and this increased interest in PRS has been backed up by the recent findings of the NI House Condition Survey 2009 which shows a continued increase in the number and proportion of privately rented dwellings in Northern Ireland. In 2006 approximately 12 per cent of all dwellings were in the private rented sector. By 2009, this had risen to more than 15 per cent. If vacant dwellings, which when last occupied were in the private rented sector are included, the figure rises to nearly 20%.

Citylets will be reporting on the detailed trends in the Belfast private rented sector in its forthcoming report.

Private Rented Sector expands in Northern Ireland is a post from: Citylets News

Mark Crossey, our Northern Ireland business development manager, and Citylets MD Thomas Ashdown attended the awards dinner with clients and judging by the photos, I think a good time was had by all! The event underlined Citylets’ first year in Belfast and celebrated all the good results to date.

Citylets celebrates in style is a post from: Citylets News

Mark covered Belfast city centre, encouraging people to avoid being ‘spooked out’ by their ‘nightmare’ of a rented property, while handing out sweets and flyers.  He said, “It was a great day, and a lot of fun. We were simply trying to raise awareness of our brand in Belfast and wanted to do something that would get people talking.”

Mark took it all in his stride – he said, “The haunted house idea came up after a few drinks on a night out – little did I know at the time that I’d be going through with it a week later!”  Conveniently, his girlfriend, a textiles graduate, was able to give him a hand with the costume – a transformed child’s wendy house.

Did you see Mark out and about yesterday?

House goes haunting the streets of Belfast is a post from: Citylets News

The rental market is continuing to thrive in Belfast due to substantial price hikes in house sales in recent years, making renting a flat an ever more competitive alternative.  Demand for rental units is high and already Citylets is becoming a major route to market after just one year.

Mark is more than happy to introduce Citylets to letting agents in the area – he said, “Advertising choice for rental agents in Northern Ireland has been limited over the years but now Citylets has arrived on the scene. It’s clear that the market in Scotland has been diverse and competitive – the product I’ve been asked to deliver here is well above what local agents are used to.”

We have been targeting the top letting agents in Belfast to try our property advertising, and we are proud to welcome the following agents:

Braemore (Belfast)
141 Lettings
Daniel McGeown & Co
Flat Rentals
BTW Shiells
Gerry O’Connor
Belvoir Lettings (East Belfast)
Belvoir Lettings (South Belfast)
Martin & Co (Belfast)
Eric Cairns Partnership
Remax Excel
Space Real Estate
Templeton Robinson
Steve Hewlett Associates
Mary Lloyd
The Rental Company
Ulster Property Sales
Rathmore Property Management

Bigger in Belfast is a post from: Citylets News