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27/06/2008
Zero Affordable Housing In Newtownabbey, Says Housing Executive
People across Northern Ireland are still being priced out of the house marketing, no more so than in Newtownabbey, where available affordable housing has hit 0%.
Statistics released by the Housing Executive, have revealed that spiralling property prices in the borough has led to the complete disappearance of affordable homes.
Prices in the area shot up by 207% between 2001 and 2007, while the average wage rose by a mere 21%, in stark comparison.
As a result, the proportion of affordable properties in Newtownabbey has dropped dramatically, from 54% to zero, during the same six year period.
The Housing Executive's Colm McCaughley, discussing these depressing figures with the borough council, said the average local property price had increased by around £104,500, beween 2001 and 2007, while the typical salary increased by only £3,636.
Mr McCaughley said: "The rapid increase in house prices has created an acute affordability problem in the Newtownabbey borough. First-time buyers are finding it difficult to access the owner-occupied market and mortgages are harder to obtain."
The housing director described the private rented sector in the area as a "viable and affordable housing option", which has increased from 1,330 properties in 2001 to 3,070 in 2006.
Mr McCaughley also discussed the Housing Executive's aim to provide over 600 new social homes across the borough by 2012.
(PR/JM)
Statistics released by the Housing Executive, have revealed that spiralling property prices in the borough has led to the complete disappearance of affordable homes.
Prices in the area shot up by 207% between 2001 and 2007, while the average wage rose by a mere 21%, in stark comparison.
As a result, the proportion of affordable properties in Newtownabbey has dropped dramatically, from 54% to zero, during the same six year period.
The Housing Executive's Colm McCaughley, discussing these depressing figures with the borough council, said the average local property price had increased by around £104,500, beween 2001 and 2007, while the typical salary increased by only £3,636.
Mr McCaughley said: "The rapid increase in house prices has created an acute affordability problem in the Newtownabbey borough. First-time buyers are finding it difficult to access the owner-occupied market and mortgages are harder to obtain."
The housing director described the private rented sector in the area as a "viable and affordable housing option", which has increased from 1,330 properties in 2001 to 3,070 in 2006.
Mr McCaughley also discussed the Housing Executive's aim to provide over 600 new social homes across the borough by 2012.
(PR/JM)
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