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01/06/2007
NI house prices continue to rise
The average house price in Northern Ireland has risen to over £215,000 according to a new survey.
The study by the University of Ulster, Northern Ireland Housing Executive and Bank of Ireland said the average price of a house in Northern Ireland is more expensive than Scotland, Wales and the whole north of England.
Wages, however tend to be lower in Northern Ireland compared with most areas of Great Britain.
During the first three months of this year, prices rose 11% from the previous quarter and were 46% higher than they were at the same time last year.
Bank of Ireland Head of Research in Northern Ireland, economist Alan Bridle said: “The survey shows that we are living through remarkable times in Northern Ireland.
“However in time, the first quarter of 2007 may prove to be high watermark as far as Northern Ireland’s rate of residential inflation is concerned.
“Since Easter, close observation of the housing market would suggest that at long last the local price boom may be starting to come off the boil with a return to a more normal market.”
Mr Bridle continued: “Evidence to date largely anecdotal, but it will be a major surprise if we are not reported a slower rate of inflation in our next survey in the late summer.”
As the property boom continues, concerns have been raised in the Northern Assembly about affordability for first time buyers and the need for more social housing.
The Head of Research at the Housing Executive, Joe Frey, said the latest price increases re-emphasised the need to address the problems first time buyers face.
“The new (devolved) minister responsible for housing, Margaret Ritchie, faces an increasingly challenging task,” he said.
“In order to tackle the problem successfully the minister needs the support of the Department of the Environment, Department for Regional Development, and the Department of Finance and Personnel as well as the private sector.
“However, we may already have seen the start of a reversal of the trend towards increasing owner occupancy, with more newly forming households having no alternative but to enter and remain in the private rented sector for much longer periods.”
(JM/SP)
The study by the University of Ulster, Northern Ireland Housing Executive and Bank of Ireland said the average price of a house in Northern Ireland is more expensive than Scotland, Wales and the whole north of England.
Wages, however tend to be lower in Northern Ireland compared with most areas of Great Britain.
During the first three months of this year, prices rose 11% from the previous quarter and were 46% higher than they were at the same time last year.
Bank of Ireland Head of Research in Northern Ireland, economist Alan Bridle said: “The survey shows that we are living through remarkable times in Northern Ireland.
“However in time, the first quarter of 2007 may prove to be high watermark as far as Northern Ireland’s rate of residential inflation is concerned.
“Since Easter, close observation of the housing market would suggest that at long last the local price boom may be starting to come off the boil with a return to a more normal market.”
Mr Bridle continued: “Evidence to date largely anecdotal, but it will be a major surprise if we are not reported a slower rate of inflation in our next survey in the late summer.”
As the property boom continues, concerns have been raised in the Northern Assembly about affordability for first time buyers and the need for more social housing.
The Head of Research at the Housing Executive, Joe Frey, said the latest price increases re-emphasised the need to address the problems first time buyers face.
“The new (devolved) minister responsible for housing, Margaret Ritchie, faces an increasingly challenging task,” he said.
“In order to tackle the problem successfully the minister needs the support of the Department of the Environment, Department for Regional Development, and the Department of Finance and Personnel as well as the private sector.
“However, we may already have seen the start of a reversal of the trend towards increasing owner occupancy, with more newly forming households having no alternative but to enter and remain in the private rented sector for much longer periods.”
(JM/SP)
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03 March 2006
Northern Ireland house prices reach all time high
House prices in Northern Ireland have risen to an all time high according to figures released today from a study at the University of Ulster. The cost of property in the province has risen by 22%, making the price of the average home approximately £146,000. The biggest increases were in the prices of apartments, terraced houses and townhouses.
Northern Ireland house prices reach all time high
House prices in Northern Ireland have risen to an all time high according to figures released today from a study at the University of Ulster. The cost of property in the province has risen by 22%, making the price of the average home approximately £146,000. The biggest increases were in the prices of apartments, terraced houses and townhouses.
30 April 2014
New Dwelling Starts Drop 35%
The total number of new dwelling starts in Northern Ireland has fallen by 35% over the year, according to the latest Northern Ireland Housing Bulletin.
New Dwelling Starts Drop 35%
The total number of new dwelling starts in Northern Ireland has fallen by 35% over the year, according to the latest Northern Ireland Housing Bulletin.
21 August 2013
NI Property Prices Increase
Residential property prices in Northern Ireland increased for first time since 2007, according to a new report. The Northern Ireland Residential Property Price Index report for the second quarter of 2013 showed that between quarter one and quarter two, residential property prices increased by 2%.
NI Property Prices Increase
Residential property prices in Northern Ireland increased for first time since 2007, according to a new report. The Northern Ireland Residential Property Price Index report for the second quarter of 2013 showed that between quarter one and quarter two, residential property prices increased by 2%.
13 June 2005
The 2005 Birthday Honours List for Northern Ireland
The full list of recipients of honours in the 2005 Birthday Honours list for Northern Ireland is as follows: Knighthood: Mr Hugh Orde OBE, Chief Constable, Police Service of Northern Ireland - for services to Northern Ireland. CBE: Mr Robert David Stewart Campbell, Belfast - For Political and public service.
The 2005 Birthday Honours List for Northern Ireland
The full list of recipients of honours in the 2005 Birthday Honours list for Northern Ireland is as follows: Knighthood: Mr Hugh Orde OBE, Chief Constable, Police Service of Northern Ireland - for services to Northern Ireland. CBE: Mr Robert David Stewart Campbell, Belfast - For Political and public service.
08 December 2004
Three months longer needed to save for NI home
It takes first time buyers in Northern Ireland three months longer to save for a house deposit now compared to the first quarter of 2004 and nine months longer than in 1994.
Three months longer needed to save for NI home
It takes first time buyers in Northern Ireland three months longer to save for a house deposit now compared to the first quarter of 2004 and nine months longer than in 1994.
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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.
