Tom Kirk, NHBC director for Northern Ireland, says: "Although the figures for this quarter dipped, the overall picture for the past twelve months is encouraging. Housing starts in 2000 increased six per cent when compared year on year with 1999. Completions for the year were also up two per cent on 1999, from 8,800 in that year, to 9,010 in 2000."

In Northern Ireland the average expected selling price of new homes (registered with NHBC) during the fourth quarter of 2000 was £102,000, a twenty per cent increase on quarter four 1999 (£85,000). Based on actual selling prices, 24 per cent of new homes cost over £100,000 in quarter four 2000, an increase on the same period in the previous year (13 per cent).

In quarter four NHBC's first time buyers' ability to buy index stood at 115, two points higher than the previous quarter. 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 32,855 applications to start new homes during the quarter, a decrease of four per cent on the same period in 1999 (34,055). Of that total, 30,065 relate to private sector activity (i.e. excluding housing associations), a decrease of four per cent on 1999 (31,205). Housing association starts totalled 2,790, a decrease of two per cent on quarter four 1999 (2,850).

NHBC figures show there were 38,900 new build completions during the fourth quarter of 2000, down 11 per cent on the same quarter in the previous year (43,800).

The figure for the average daily sales of new homes in the fourth quarter of 2000 is 507, a decrease of seven per cent on the same period in 1999 (543).

Q4 2000 regional figures

ends