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10/07/2012
Minister Admits Uncertainty Remains In NI Housing Market
Minister for Social Development Nelson McCausland has noted the publication of the latest Royal Institution of Chartered Surveyors Housing Market Survey.
The Minister, who has responsibility for housing, said: "While uncertainty clearly remains in the housing market in Northern Ireland and throughout the UK, it is encouraging to note that local surveyors are reporting a return to affordability and greater numbers of transactions. A recent Council for Mortgage Lenders report shows that first time buyers make up 60% of the market here, compared to only 42% in the UK as a whole.
"Through the Programme for Government the Northern Ireland Executive has given a commitment to the provision of affordable homes. We do this mainly through part funding the Co-Ownership Housing Association and last year 643 buyers were supported into home ownership through the Co-ownership scheme. In recognition of the demand for support through Co-Ownership the Executive has increased the level of funding to £25million up to 2014/15. Indications are that demand for Co-Ownership will continue at strong levels as buyers recognise the good value available in the housing market."
(CD/GK)
The Minister, who has responsibility for housing, said: "While uncertainty clearly remains in the housing market in Northern Ireland and throughout the UK, it is encouraging to note that local surveyors are reporting a return to affordability and greater numbers of transactions. A recent Council for Mortgage Lenders report shows that first time buyers make up 60% of the market here, compared to only 42% in the UK as a whole.
"Through the Programme for Government the Northern Ireland Executive has given a commitment to the provision of affordable homes. We do this mainly through part funding the Co-Ownership Housing Association and last year 643 buyers were supported into home ownership through the Co-ownership scheme. In recognition of the demand for support through Co-Ownership the Executive has increased the level of funding to £25million up to 2014/15. Indications are that demand for Co-Ownership will continue at strong levels as buyers recognise the good value available in the housing market."
(CD/GK)
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