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16/11/2007
Further Job Losses Revealed
An estate agent in County Antrim has shed staff while rural Limavady has again been hit by news of substantial job losses.
Following soon after 900 jobs being shed by international company, Seagate, the closure of Huco Lightronics in the County Londonderry town will mean the loss of 70 jobs in January.
The Limavady company, which makes vehicle and lighting electronic parts, has been the subject of a review – with employees warned that operational viability was under scrutiny – since 2006.
Meanwhile, there have been over 30 redundancies at the McAfee Properties and Mortgages Group.
The company, which has several offices along the north coast as well as in Ballymena and Antrim, made 32 staff redundant last month.
This is one of the most dramatic signs to date that Northern Ireland’s property market has finally peaked and is on the way into a major cool-down period.
A recent report from the University of Ulster, for example, said that first time buyers were now very scarce and the only continuing sales activity was taking place in the higher value property sectors.
See: Sales Falter As Average House Cost Tops £250,000
(BMcC)
Following soon after 900 jobs being shed by international company, Seagate, the closure of Huco Lightronics in the County Londonderry town will mean the loss of 70 jobs in January.
The Limavady company, which makes vehicle and lighting electronic parts, has been the subject of a review – with employees warned that operational viability was under scrutiny – since 2006.
Meanwhile, there have been over 30 redundancies at the McAfee Properties and Mortgages Group.
The company, which has several offices along the north coast as well as in Ballymena and Antrim, made 32 staff redundant last month.
This is one of the most dramatic signs to date that Northern Ireland’s property market has finally peaked and is on the way into a major cool-down period.
A recent report from the University of Ulster, for example, said that first time buyers were now very scarce and the only continuing sales activity was taking place in the higher value property sectors.
See: Sales Falter As Average House Cost Tops £250,000
(BMcC)
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Northern Ireland WeatherThis Evening and Tonight:It will be dry with a few cloud breaks developing later in the night. Feeling quite mild although breezy again in the north with brisk southwest winds. Minimum temperature 10 °C.
