05/11/2002

House building on the increase in Northern Ireland

House-building activity in Northern Ireland has increased by ten per cent during the third quarter of 2002, according to the latest figures from the National House-Building Council (NHBC).

NHBC figures for the province have revealed that a total of 2,397 applications were made to start new homes during the three-month period, an increase of 10% on the same time in 2001.

The average anticipated selling price of new homes (that are registered with NHBC) rose by 4% to £203,000, while the proportion of homes sold for over £100,000 was 42%, representing a significant increase on the 31% that were sold during the same period last year.

However, the NHBC first time buyers' ability to buy index decreased by six points during the quarter, and now rests at 105. The index is based on a formula which takes into account the average cost of homes bought by first time buyers, average income and mortgage interest rates (from the Nationwide Building Society) – the higher the index, the greater the ability to buy.

NHBC statistics are based on information relating to its 18,000 registered house buildings, who construct around 85% of the new homes built in the UK.

(CL)

Related Northern Ireland News Stories
Click here for the latest headlines.

09 February 2004
NI house building on decrease
House-building activity in Northern Ireland decreased during the fourth quarter of 2003, according to the latest statistic from the National House-Building Council (NHBC). NHBC figures for the province reveal that a total of 2,094 applications were made to start new homes during the quarter, a decrease of 19% on the same period in 2002.
07 May 2003
NI house prices still on the rise
House prices in Northern Ireland increased during the first quarter of 2003, according to the latest statistics released by NHBC (National House-Building Council).
15 August 2003
House-building activity still on the rise
House-building activity in Northern Ireland saw an increase during the second quarter of 2003, according to statistics released by the National House-Building Council (NHBC). The figures reveal that a total of 2,780 applications were made to start new homes during the quarter, an increase of 13% on the same period in 2002.
27 July 2006
Report reveals new house price rises
The Northern Ireland Housing Bulletin published today by the Department for Social Development has revealed an average 12.3% rise for new house prices. The report included the sale figures of new houses and apartments being built in Northern Ireland during the period of January to March 2006.
17 May 2018
Hundreds Of New Homes To Be Developed In Co Down
Approximately 50 construction jobs are to be created as part of a £50million project to develop 900 new homes in Comber, Co Down. Northern Ireland homebuilders Hagan Homes has started construction work on the first phase of the 'Enler Village' site on the Newtownards Road, which includes the development of 17 new homes.