Q1 2000 new house-building statistics Northern Ireland 14/02/06
House-building activity in Northern Ireland saw an increase of 14 per cent during the first quarter of 2000 according to statistics released today by NHBC (National House-Building Council).
NHBC figures for Northern Ireland, including the Isle of Man, reveal that a total of 2,760 applications were made to start new homes during the quarter, an increase of 14 per cent on the same period in 1999 (2,425). Tom Kirk, NHBC director for Northern Ireland, says: 'These figures indicate that 2000 will be another strong year for house building in the province. The main news for house buyers is the abolition of MIRAS. This should help slow house price inflation and ease pressure on interest rates.' In Northern Ireland the average anticipated selling price of new homes (registered with NHBC) during the first quarter of 2000 was £86,000, a 15 per cent increase on quarter one 1999 (£75,000). Based on actual selling prices, the proportion of homes sold for over £100,000 was 15 per cent, an increase on the same period last year (14 per cent). During the quarter, NHBC's first time buyers' ability to buy index showed a decrease of two points to 111, compared with 113 in the fourth quarter of 1999. 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. UK-wide figures, including the Isle of Man, show a total of 43,425 applications to start new homes during the quarter, a seven per cent decrease on the same period in 1999 (46,450). Of that total, 39,355 relate to private sector activity (i.e. excluding housing associations), and show a four per cent decrease on 1999 (40,890). Housing association starts totalled 4,070 - a decrease of 27 per cent on quarter four 1999 (5,560). NHBC figures show there were 35,530 new build completions during the first quarter of 2000, up 5 per cent on the same quarter last year (33,880). The figure for the average daily sales of homes in the first quarter of 2000 is 521, an increase of nine per cent on the same period a year ago (480). ends
