NI housing prices rose by 7.8% in third quarter 2003

The latest Northern Ireland Housing Bulletin published by the Department for Social Development has reported that housing prices in the third quarter of 20003 rose by 7.8%.

The report found that in the period from July to September 2003 the average selling-price of National House Building Council (NHBC)-registered new houses sold had increased by 7.8% to £110,000 from the same quarter in 2002.

The average selling price of NHBC-registered new houses, however, ranged from £72,000 in Ballymoney District Council to £150,300 in North Down District Council, according to provisional figures.

The average intended selling price of NHBC-registered flats and maisonettes also increased by 10.1% from the quarter ending September 2002 ,to £109,000.

More people were also applying for mortgage in this quarter, with 504 actions of mortgage possession, representing an increase of 25.4% from the same period in 2002.

The total number of new NHBC housing starts recorded also increased for this quarter, up 15.2% on the same quarter in 2002, with detached houses representing 33% of all NHBC-intended starts. The total number of starts increased from 3,107 for the quarter ending September 2002, to 3,460 for this quarter, with 96.8% of all the new dwellings started being commissioned by the private sector.

Craigavon was the district council with the greatest number of new housing starts – 397, which represents and increase of 41.3% on the same period last year.

Finally, the number of households presented as homeless to the Housing Executive was 4,483 with the main reason being ‘Sharing Breakdown or Family Dispute’.

The next edition of the quarterly bulletin will be published in April 2004.

(KMcA)