Tom Kirk, NHBC director for Northern Ireland, says: "Again in quarter two Northern Ireland has seen a drop in the number of new house starts when compared to the record figures in 2001. However, the number of starts has risen by 12 percent this quarter compared to the last one and we hope this steady growth continues."

In Northern Ireland the average anticipated selling price of new homes (registered with NHBC) during the second quarter of 2002 was £101,000, a 17 per cent increase on quarter two 2001 (£86,000). Based on actual selling prices, the proportion of homes sold for over £100,000 was 37 per cent, an increase on the same period last year (28 per cent).

NHBC's first time buyers' ability to buy index decreased by four points during the quarter to 110, a decrease on the figure for quarter one 2002 (114). 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 show a total of 46,007 applications to start new homes during the second quarter, a 22 per cent increase on the same period in 2001 (37,661). Of that total, 41,506 relate to private sector activity (i.e. excluding housing associations), and show a 24 per cent increase on 2001 (33,563). Housing association starts totalled 4,501 - an increase of ten per cent on quarter two 2001 (4,098).

NHBC UK figures show there were 38,226 new build completions during the second quarter of 2002, showing virtually no change on the same quarter last year (38,232).

The figure for the average daily sales of new homes in the second quarter of 2002 is 590, an increase of six per cent on the same period a year ago (555).

Q2 2002 regional figures

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