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02/07/2008
NI Housing "Not As Bad As It Seems", Says Leading Economist
Northern Ireland homeowners have been urged to hold their nerve, by a top financial expert, amid more bleak housing market figures.
Yesterday, a Nationwide survey reported average house prices in the Province has dropped by around 18%, but the University of Ulster's Mike Smith has dismissed the building society's shocking figures as unrepresentative.
However, the gloomy reports have been compounded by stark declines in the building trade, which is suggested to be experiencing its sharpest drop in 12 years.
The Royal Institution of Chartered Surveyors has most recently claimed that construction in the private housing sector has all but ceased, blaming planning lag times for the slump.
Mr Smith has refused to believe the current housing climate is as desperate as illustrated.
"The situation is not as bad as it has been painted - employment rose in the first three months of this year. But this is nothing like the credit slump of 1979 when hundreds of thousands of people lost their jobs," he said, quoted in the Belfast News Letter.
"For the first time in my living memory Northern Ireland is doing better than any other part of the UK - but if the Government would give some confidence to the private sector it would help things," he added.
Ian Paisley Jr last night supported calls for the abolition of stamp duty for first time buyers, on properties priced under £300k.
Mr Paisley said: "The processing cost of buying a house is in no way near the current cost of stamp duty".
However, there was more bad news for the construction sector this week as it has emerged that a Co Down glass company has had to lay off more than half of its workforce.
Refelcting the overall downturn in the sctor - underlining the falling property market - staff at Toughglass in Kilkeel have been told that about 60 staff are to be made redundant.
Toughglass, which makes toughened glass, said the redundancies were caused by a downturn in demand.
See: NI House Prices Still Falling
(PR/JM)
Yesterday, a Nationwide survey reported average house prices in the Province has dropped by around 18%, but the University of Ulster's Mike Smith has dismissed the building society's shocking figures as unrepresentative.
However, the gloomy reports have been compounded by stark declines in the building trade, which is suggested to be experiencing its sharpest drop in 12 years.
The Royal Institution of Chartered Surveyors has most recently claimed that construction in the private housing sector has all but ceased, blaming planning lag times for the slump.
Mr Smith has refused to believe the current housing climate is as desperate as illustrated.
"The situation is not as bad as it has been painted - employment rose in the first three months of this year. But this is nothing like the credit slump of 1979 when hundreds of thousands of people lost their jobs," he said, quoted in the Belfast News Letter.
"For the first time in my living memory Northern Ireland is doing better than any other part of the UK - but if the Government would give some confidence to the private sector it would help things," he added.
Ian Paisley Jr last night supported calls for the abolition of stamp duty for first time buyers, on properties priced under £300k.
Mr Paisley said: "The processing cost of buying a house is in no way near the current cost of stamp duty".
However, there was more bad news for the construction sector this week as it has emerged that a Co Down glass company has had to lay off more than half of its workforce.
Refelcting the overall downturn in the sctor - underlining the falling property market - staff at Toughglass in Kilkeel have been told that about 60 staff are to be made redundant.
Toughglass, which makes toughened glass, said the redundancies were caused by a downturn in demand.
See: NI House Prices Still Falling
(PR/JM)
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06 August 2015
Crumlin Social Housing Scheme Opened
A new social housing scheme of three and four bedroom houses has been officially opened in Crumlin. The fourteen new homes for families on the social housing waiting list, is owned and managed by Habinteg Housing Association who funded the build, with support from the Department for Social Development.
Crumlin Social Housing Scheme Opened
A new social housing scheme of three and four bedroom houses has been officially opened in Crumlin. The fourteen new homes for families on the social housing waiting list, is owned and managed by Habinteg Housing Association who funded the build, with support from the Department for Social Development.
27 July 2007
Housing Executive pays out £140m to landlords
The Housing Executive has announced that Landlords in Northern Ireland are receiving £140m a year from housing benefits. The Housing Executive is using privately rented property more frequently due to a shortage of social housing.
Housing Executive pays out £140m to landlords
The Housing Executive has announced that Landlords in Northern Ireland are receiving £140m a year from housing benefits. The Housing Executive is using privately rented property more frequently due to a shortage of social housing.
27 June 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.
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.
27 February 2013
Bomb Alert Was Hoax Says PSNI
A bomb alert in Newtownabbey has been declared a hoax. PSNI have described the security alert as an "elaborate hoax". The M5, was closed in both directions from Hazelbank to Doagh Road, on Tuesday night. All roads have re-opened.
Bomb Alert Was Hoax Says PSNI
A bomb alert in Newtownabbey has been declared a hoax. PSNI have described the security alert as an "elaborate hoax". The M5, was closed in both directions from Hazelbank to Doagh Road, on Tuesday night. All roads have re-opened.
05 May 2009
Housing Downturn Continues, Says Expert
High hopes that the housing slump in Northern Ireland was coming to an end have been dashed this week. A property expert has dismissed claims by economists that the housing market downturn is over.
Housing Downturn Continues, Says Expert
High hopes that the housing slump in Northern Ireland was coming to an end have been dashed this week. A property expert has dismissed claims by economists that the housing market downturn is over.
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