Property Auctions in Belfast

Photo of houses sold at property auctions in Belfast, Northern Ireland
Property auctions in Belfast offer excellent prospects to ouse hunters and investors alike, but be prepared for some stiff competition. Photo © Kenneth Allen (cc-by-sa/2.0)

Property Auctions In Belfast

The expansion of Ireland’s second largest city means visiting property auctions in Belfast could enable you to save big money and reap good rewards on your investment. The population of around 350,000 and the wide variety of properties available attracts property investors from all around the world.

Belfast is progressive and has an expanding jobs market so investing in property is very worthwhile. It doesn’t matter if you are looking for higher priced properties or want to purchase something less expensive, this article will assist you when looking for bargains at property auctions in Belfast.

Image of a street and row of houses in Belfast.
Houses for sale in Belfast are often very good quality and offer a variety of return on investment options. Photo © David Smith (cc-by-sa/2.0

Northern Ireland Property:

Property Prices In Belfast

In March 2020, average house prices in Northern Ireland had increased by 3.8% on the previous 12 months. This was higher than the rest of the UK. In Belfast the average property price stood at £159,564 in June 2020. Flats sold for an average of £133,526 and terraced houses sold for an average of £131,246.

Lots at property auctions in Belfast can be bought for lower prices than those on the open market. Typically, a 2-bedroom mid-terrace house will start with a guide price of £55,000. A 4-bedroom detached home can start at around £185,000. Belfast property auction guide prices depend entirely on the location and the state of the property being auctioned.

Image showing a new house in Belfast
Sometimes newer homes, including repossessed properties, can appear at property auctions in Belfast, Northern Ireland. Photo © Robert Ashby (cc-by-sa/2.0)

Belfast property resources:
Council tax and rates in Belfast, Northern Ireland
Visit Belfast and general information about the city

Finding Property Auctions In Belfast

Belfast is the largest city in Northern Ireland and has a diversity of locations where you can buy both cheap and expensive properties. If you are considering attending property auctions in Belfast it is wise to look around before you make a decision about where to buy a property.

Below are listed a few of the areas where it is possible to find a bargain at various property auctions in Belfast and surrounding area.

Property in Laganbank (BT1)

To the south of Belfast is Laganbank which boasts some of the more exclusive properties in the Belfast area.

Close to Queens University, Laganbank is awash with culture and is home to the Belfast festival. There are several theatres and the Grand Opera House as well as a large number of bars and restaurants.

Trains provide transport to the city centre and there is easy access to the motorway network. Homes in this area are most sought after but you can still get a 1-bedroom apartment for about £89,000.

Photo of a house for sale by auction in Belfast
There are many good quality properties to choose from in Belfast, especially if you are able to take on a property which requires renovation and upgrading. Photo © Eric Jones (cc-by-sa/2.0)

Property in Lower Falls (BT12)

The Falls Road was originally mainly terraced houses built in the 19th century and although considerable redevelopment has taken place there are still plenty of terraced homes available. Translink operates the bus services to the city centre which is just 1.5 miles away. A 4-bedroom mid-terrace house in Lower Falls will have a guide price of around £75,000.

Old Park Properties (BT14)

In Old Park there are semi-detached houses, terraced homes and town villas. Many of the properties were built in the post-war years and have larger rooms than more modern homes. A 3-bedroom semi-detached villa with garage and parking can cost under £100,000. Old Park is situated to the north east of the centre and has good transport links.

Belfast property auctions offer a good range of houses which require renovation, derelict properties and repossessed property in Belfast.

Property in Castlereagh (BT6)

The population of the Castlereagh area of Belfast is around 67,000. This is a popular residential area with the two main commuter towns being Carryduff and Dundonald.

Castlereagh has several modern developments featuring semi-detached houses and good quality apartments. There are also some older terraced houses available and one of these can cost as little as £79,000. Belfast property auctions often feature interesting properties in this area.

Photo of a street with good quality houses in Belfast
If you are looking for good quality houses at below market value, try attending multiple house auctions in Belfast as the inventory of properties changes every week. Photo © James Finton (cc-by-sa/2.0)

Property in Balmoral, Belfast (BT9)

Balmoral is south east of the city and is linked by the Lisburn Road to the centre. To the west and south there is the M1 motorway so transport links to other parts of Northern Ireland are good.

Prices for homes in Balmoral near Belfast can be higher than other parts of Belfast with the most sought after apartments in Regency buildings heavily in demand. A 3-bedroom terrace house here will cost around £140,000.

UK Auctions:

Types Of property Bargains At Belfast Auctions

There is a wide diversity of auction properties in Belfast. Whether you are searching for commercial premises for a new or existing business or want to make your home in the city, you will have plenty of options to choose from.

Commercial Properties For Auction In Belfast

Belfast has commercial units, pubs and small shops available for auction. You can also find office space, restaurants and industrial units. A small industrial unit of around £1,700 square feet in Belfast can cost around £50,000 at auction. Prices go up quickly if the premises are close to the city centre.

Photo of a derelict property in Belfast
Attending multiple property auctions in Belfast area is the key to finding good quality houses and flats with good potential. There are plenty of derelict properties and repossessed houses in Belfast. Photo © Paul Coueslant (cc-by-sa/2.0)

Residential Auction Properties In Belfast

A prime residential 3-bedroom semi-detached property in Belfast can start with a guide price of £120,000. There is a wide choice of types of property including terraced houses, flats, semi-detached homes and larger detached houses with land.

Derelict Property In Belfast

Belfast property auctions include a number of buildings that require complete restoration or renovation.

Some derelict properties are located on the outskirts of the city and there are a considerable number of older terraced properties that could be a worthwhile investment. A 2-bedroom mid-terrace house in a popular residential area will have a starting bid of around £55,000.

Property Tools

Belfast House Auctions FAQ

How Can I Find Property Auctions In Belfast?

The details of upcoming property auctions in Belfast can be found listed on Belfast auction house websites and are usually printed in the local press. Most properties are marketed through Belfast based auction businesses. Procedures at auction houses follow a similar pattern wherever they are based.

How Much Are Auction Properties In Belfast?

You can expect to pay less for an auction property in Belfast than houses sold on the open market. Current guide price for a 2-bedroom mid-terrace house can start around £55,000. The condition of the property and the location will determine the starting bid of homes up for auction.

Which Areas Are Best To Find Cheap Properties In Belfast?

The city centre provides opportunities to buy cheap properties in Belfast but there is more choice in the outer areas of the city. Average prices in the Shankill Road are around £71,000. Keep an eye open for properties which require renovation in the Belfast area.

Can I Buy Repossessed Properties In Belfast?

Classified adverts will list repossessed auction properties in Belfast. The properties are often sold by banks and finance companies. Councils may have a selection of repossessed properties available for auction in Belfast and surrounding areas.

Photo of a repossessed property in Belfast
There is a good stock of repossessed properties in Belfast, many of which appear at local property auctions. Photo © Eric Jones (cc-by-sa/2.0)

Conclusion: Belfast Property Auctions

Getting legal advice before buying auction properties in Belfast is a wise decision. Although the buying experience is straightforward and transparent it is essential to keep your head when bidding at any property auction in Belfast as these auctions are busy and can get heated.

An agreement is in place once the gavel has fallen so ensure that you have the necessary financial means in place before you start your bid. Be sure to stick to your budget and take identification, enough money or a bankers draft to pay the deposit and solicitors details.

Property Auctions UK (Home Page) – Local Property Auction List