Surge In NI House Prices - Report

Latest figures have shown a large increase in house sales in Northern Ireland at the end of 2013.

According to the latest Northern Ireland Housing Bulletin, almost 5,000 residential property sales were recorded in the last three months of last year.

The report, which is produced by the Department of Social Development, said the average property price is now £99,000. This figure is half of values during the peak of the market in 2007.

It found that the total number of new dwelling starts was 918, a decrease of 17% (185) on the previous quarter of July to September 2013, and 35% (485) on the same quarter in 2012.

The total number of new dwelling completions was 2,045, a figure similar to the previous quarter (2,040), and a decrease of 15% (349) on the same quarter in 2012.

In total, some 4,667 households were listed as homeless to the Northern Ireland Housing Executive during October to December 2013. This is a fall of 165 (3%) from the previous quarter. A majority of those said a sharing breakdown or family dispute was the reason.

Elsewhere, the number of households accepted by the Northern Ireland Housing Executive as full duty applicants for the quarter October to December 2013 was 1,931, a drop of 12% compared to the previous quarter. Some 30% said accommodation was not suitable, while 16% cited a sharing breakdown or family dispute. Of those households accepted as full duty applicants during the quarter, 218 were discharged.

The bulletin added that residential property prices remained the same as the previous quarter, with prices increasing by an average of 4% over the year to December 2013. However, the prices remain less than half of the peak value during the housing boom in 2007.

(JP/MH)