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13/06/2013
NI Property Prices Fall
Property prices in Northern Ireland continue to fall, according to the latest Northern Ireland Housing Bulletin.
In the first quarter of 2013, the Northern Ireland Residential Property Price Index stood at 87.
Between October - December 2012 and January - March 2013, residential property prices fell by 1%.
For the first quarter of 2013, the standardised residential property price was found to be 6% lower than the same quarter in 2012 and 13% lower than in the first quarter of 2005.
The Northern Ireland Housing Bulletin, for the period October to December 2012, was published by the Department for Social Development today.
There has been a substantial increase in the number of new dwelling starts for the period, however, with the total number standing at 1,403; an increase of 49% on the same period in 2011.
The total number of new dwelling completions was 2,394, an increase of 64% on the same period in 2011.
Social Development Minister Nelson McCausland said: "Overall today’s latest housing report is a mixed bag with house prices continuing to fall on one hand but the number of new builds and completions increasing on the other. The local housing market continues to suffer from the fallout of the economic downturn but to a lesser degree and I hope the improving picture in these statistics the beginning of a return to growth for the housing sector."
"Today’s figures provide some grounds for optimism about the state of the local housing market. In the last twelve months the amount of new builds has almost doubled with an increase of 49% in the number of new starts year on year.
"The number of completed new builds has increased by 64% in the same period which is a significant development and a welcome boost to the housing sector."
(IT/CD)
In the first quarter of 2013, the Northern Ireland Residential Property Price Index stood at 87.
Between October - December 2012 and January - March 2013, residential property prices fell by 1%.
For the first quarter of 2013, the standardised residential property price was found to be 6% lower than the same quarter in 2012 and 13% lower than in the first quarter of 2005.
The Northern Ireland Housing Bulletin, for the period October to December 2012, was published by the Department for Social Development today.
There has been a substantial increase in the number of new dwelling starts for the period, however, with the total number standing at 1,403; an increase of 49% on the same period in 2011.
The total number of new dwelling completions was 2,394, an increase of 64% on the same period in 2011.
Social Development Minister Nelson McCausland said: "Overall today’s latest housing report is a mixed bag with house prices continuing to fall on one hand but the number of new builds and completions increasing on the other. The local housing market continues to suffer from the fallout of the economic downturn but to a lesser degree and I hope the improving picture in these statistics the beginning of a return to growth for the housing sector."
"Today’s figures provide some grounds for optimism about the state of the local housing market. In the last twelve months the amount of new builds has almost doubled with an increase of 49% in the number of new starts year on year.
"The number of completed new builds has increased by 64% in the same period which is a significant development and a welcome boost to the housing sector."
(IT/CD)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
