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18/01/2024
Other News In Brief
Concerns Raised Over Timeframe To Deliver £3.3bn Investment
Ulster Unionist Finance spokesperson Dr. Steve Aiken OBE MLA has raised concerns regarding the timeframe to deliver the £3.3 billion settlement.
He said: "Yesterday, we should have been gathering in the Assembly to deliberate on the allocation of the £3.3 billion settlement agreement between the Treasury and the Executive Political Parties.
"These resources were intended to cover the public sector pay award, finally acknowledging Northern Ireland's prolonged under-resourcing and effectively writing off our overspend. Although this funding wouldn't have addressed every need, it would have significantly contributed to stabilising our public sector.
"However, we find ourselves in a ludicrous situation – agreed funding with no mechanism in place to spend it. While releasing funds for the public sector pay award may seem like an obvious first step, it places the responsibility on the Secretary of State, absolving the DUP of the duty to revive the Assembly. Time is rapidly running out to spend the money.
"The overall package, particularly around transformation, requires engaging contracts, advancing 'shovel-ready' projects, addressing hospital waiting lists, and establishing re-profiled funding arrangements. These monies must be spent within the next 2.5 months.
"Shortly, the Treasury will prepare for the March pre-election budget, without Northern Ireland undergoing a formal budget and estimate process—a dereliction of duty, not of the Secretary of State, but of this non-functioning Assembly.
"Coupled with a looming comprehensive spending review in 2025, we had just over a year to maximise flexibilities in the pre-Christmas financial settlement and initiate transformation to lock in the change process. Currently, our Civil Service operates sub-optimally, lacking clear financial direction and relying on the hope that something might just turn up.
"Despite receiving much of what we asked for last month, a political party is dithering, lacking a plan, with time rapidly running out. Regardless of the machinations of the Windsor Framework, every day of delay makes governing increasingly difficult."
SDLP Leader Expresses Condolences Following Death Of Tony Lloyd
SDLP Leader Colum Eastwood MP has said that the news of the death of Labour MP Tony Lloyd will be heartbreaking for his many friends across Britain and Ireland.
Mr Eastwood said that Tony had been a friend and guide to him in recent years and that he would be desperately missed by everyone who had the privilege on knowing him.
Mr Eastwood MP said: "Tony Lloyd was a good friend and a great political figure. Like many others who had the privilege of knowing him, I am devastated to have lost a fierce friend and a good person.
"In an age when the dividing lines between opponents are stark, Tony effortlessly built enduring relationships with people from every political persuasion. It is a testament to his character that he will count so many from such across the spectrum of parties as friends and supporters.
"Tony has such a strong affinity and connection with Ireland. I was delighted to have him with us in Derry over the summer. He was full of advice, support and good craic. He was as at home in Derry or Donegal as he was with his beloved family in Rochdale and Manchester.
"My thoughts are with his family and wide circle of friends at this difficult time."
NI's Housing Market Outperforms All Other UK Regions
Northern Ireland's housing market continues to outperform all other UK regions, and local surveyors are more optimistic about the year ahead than their counterparts across the water. That’s according to the latest Royal Institution of Chartered Surveyors (RICS) and Ulster Bank Residential Market Survey, which compares surveyors’ views on the housing market across the UK month-on-month.
Over the past three months, a net balance of 53% of Northern Ireland respondents reported a rise in house prices, compared to -30% of respondents in the UK as a whole.
When taking a look at pricing expectations, respondents in Northern Ireland anticipate that prices will continue rising through the first quarter of 2024. A net balance of 38% of NI respondents expect prices to increase, compared to -13% for the UK as a whole. The figure was also a marked improvement from -23% in January of 2023.
Regarding demand, a net balance of 24% of respondents in NI reported that new buyer inquiries rose last month. This was compared to -3% for the UK as a whole. It was also a marked improvement from the January 2023 figure of -22%.
Supply followed a similar pattern to demand. Looking at new instructions to sell, a net balance of 24% of NI surveyors reported a rise in new properties coming onto the market last month. This is up from -25% at the beginning of 2023.
In terms of sales, a net balance of +16% of respondents in NI reported a rise, compared to -3% for the UK as a whole.
NI respondents also appear to be more optimistic about the sales outlook for the first three months of 2024 than their UK counterparts, with a net balance of 22% of NI surveyors anticipating a rise in sales, compared to the UK average of 12%.
Regarding the year ahead, Northern Ireland surveyors’ expectations have improved again and are markedly above the UK average. A net balance of +68% of NI respondents expects prices to be higher in a year's time. The next highest figure is Scotland at +15%. A net balance of 50% of Northern Ireland respondents expects sales activity to higher in a year’s time, compared to +34% for the UK as a whole.
Ulster Unionist Finance spokesperson Dr. Steve Aiken OBE MLA has raised concerns regarding the timeframe to deliver the £3.3 billion settlement.
He said: "Yesterday, we should have been gathering in the Assembly to deliberate on the allocation of the £3.3 billion settlement agreement between the Treasury and the Executive Political Parties.
"These resources were intended to cover the public sector pay award, finally acknowledging Northern Ireland's prolonged under-resourcing and effectively writing off our overspend. Although this funding wouldn't have addressed every need, it would have significantly contributed to stabilising our public sector.
"However, we find ourselves in a ludicrous situation – agreed funding with no mechanism in place to spend it. While releasing funds for the public sector pay award may seem like an obvious first step, it places the responsibility on the Secretary of State, absolving the DUP of the duty to revive the Assembly. Time is rapidly running out to spend the money.
"The overall package, particularly around transformation, requires engaging contracts, advancing 'shovel-ready' projects, addressing hospital waiting lists, and establishing re-profiled funding arrangements. These monies must be spent within the next 2.5 months.
"Shortly, the Treasury will prepare for the March pre-election budget, without Northern Ireland undergoing a formal budget and estimate process—a dereliction of duty, not of the Secretary of State, but of this non-functioning Assembly.
"Coupled with a looming comprehensive spending review in 2025, we had just over a year to maximise flexibilities in the pre-Christmas financial settlement and initiate transformation to lock in the change process. Currently, our Civil Service operates sub-optimally, lacking clear financial direction and relying on the hope that something might just turn up.
"Despite receiving much of what we asked for last month, a political party is dithering, lacking a plan, with time rapidly running out. Regardless of the machinations of the Windsor Framework, every day of delay makes governing increasingly difficult."
SDLP Leader Expresses Condolences Following Death Of Tony Lloyd
SDLP Leader Colum Eastwood MP has said that the news of the death of Labour MP Tony Lloyd will be heartbreaking for his many friends across Britain and Ireland.
Mr Eastwood said that Tony had been a friend and guide to him in recent years and that he would be desperately missed by everyone who had the privilege on knowing him.
Mr Eastwood MP said: "Tony Lloyd was a good friend and a great political figure. Like many others who had the privilege of knowing him, I am devastated to have lost a fierce friend and a good person.
"In an age when the dividing lines between opponents are stark, Tony effortlessly built enduring relationships with people from every political persuasion. It is a testament to his character that he will count so many from such across the spectrum of parties as friends and supporters.
"Tony has such a strong affinity and connection with Ireland. I was delighted to have him with us in Derry over the summer. He was full of advice, support and good craic. He was as at home in Derry or Donegal as he was with his beloved family in Rochdale and Manchester.
"My thoughts are with his family and wide circle of friends at this difficult time."
NI's Housing Market Outperforms All Other UK Regions
Northern Ireland's housing market continues to outperform all other UK regions, and local surveyors are more optimistic about the year ahead than their counterparts across the water. That’s according to the latest Royal Institution of Chartered Surveyors (RICS) and Ulster Bank Residential Market Survey, which compares surveyors’ views on the housing market across the UK month-on-month.
Over the past three months, a net balance of 53% of Northern Ireland respondents reported a rise in house prices, compared to -30% of respondents in the UK as a whole.
When taking a look at pricing expectations, respondents in Northern Ireland anticipate that prices will continue rising through the first quarter of 2024. A net balance of 38% of NI respondents expect prices to increase, compared to -13% for the UK as a whole. The figure was also a marked improvement from -23% in January of 2023.
Regarding demand, a net balance of 24% of respondents in NI reported that new buyer inquiries rose last month. This was compared to -3% for the UK as a whole. It was also a marked improvement from the January 2023 figure of -22%.
Supply followed a similar pattern to demand. Looking at new instructions to sell, a net balance of 24% of NI surveyors reported a rise in new properties coming onto the market last month. This is up from -25% at the beginning of 2023.
In terms of sales, a net balance of +16% of respondents in NI reported a rise, compared to -3% for the UK as a whole.
NI respondents also appear to be more optimistic about the sales outlook for the first three months of 2024 than their UK counterparts, with a net balance of 22% of NI surveyors anticipating a rise in sales, compared to the UK average of 12%.
Regarding the year ahead, Northern Ireland surveyors’ expectations have improved again and are markedly above the UK average. A net balance of +68% of NI respondents expects prices to be higher in a year's time. The next highest figure is Scotland at +15%. A net balance of 50% of Northern Ireland respondents expects sales activity to higher in a year’s time, compared to +34% for the UK as a whole.
Related Northern Ireland News Stories
Click here for the latest headlines.
10 February 2023
Housing Market Reports Drop In Demand, Sales And Listings
The Northern Ireland housing market has experienced a drop in new buyer demand, sales and listings, according to the latest RICS (Royal Institution of Chartered Surveyors) and Ulster Bank Residential Market Survey.
Housing Market Reports Drop In Demand, Sales And Listings
The Northern Ireland housing market has experienced a drop in new buyer demand, sales and listings, according to the latest RICS (Royal Institution of Chartered Surveyors) and Ulster Bank Residential Market Survey.
19 March 2003
NI people unlikely to be victims of crime says survey
Most people in Northern Ireland thought that crime last year was uncommon in their area and that they were unlikely to be victims of crime, according to new survey results.
NI people unlikely to be victims of crime says survey
Most people in Northern Ireland thought that crime last year was uncommon in their area and that they were unlikely to be victims of crime, according to new survey results.
17 June 2004
Three out of five NI people happy with PSNI
Three out of five people in Northern Ireland are happy with the PSNI, new figures have revealed.
Three out of five NI people happy with PSNI
Three out of five people in Northern Ireland are happy with the PSNI, new figures have revealed.
09 December 2022
House Prices Continue To Rise But At Slowest Rate Since 2020
Northern Ireland house prices have continued to rise over the last three months, but a slowest rate since June 2020, according to the latest Royal Institution of Chartered Surveyors (RICS) and Ulster Bank Residential Market Survey. A net balance of 26% of respondents stated that house prices rose over the past three months.
House Prices Continue To Rise But At Slowest Rate Since 2020
Northern Ireland house prices have continued to rise over the last three months, but a slowest rate since June 2020, according to the latest Royal Institution of Chartered Surveyors (RICS) and Ulster Bank Residential Market Survey. A net balance of 26% of respondents stated that house prices rose over the past three months.
26 July 2018
Challenges Remain Within NI's Construction Sector
New figures have revealed challenges remain within Northern Ireland's construction sector.
Challenges Remain Within NI's Construction Sector
New figures have revealed challenges remain within Northern Ireland's construction sector.
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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.
