Q3 2002 new house-building statistics Northern Ireland 14/02/06
House-building activity in Northern Ireland saw an increase of ten per cent during the third quarter of 2002 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 2,397 applications were made to start new homes during the quarter, an increase of ten per cent on the same period in 2001 (2,184). In Northern Ireland the average anticipated selling price of new homes (registered with NHBC) during the third quarter of 2002 was £102,000, a four per cent increase on quarter three 2001 (£98,000). Based on actual selling prices, the proportion of homes sold for over £100,000 was 42 per cent, an increase on the same period last year (31 per cent). NHBC's first time buyers' ability to buy index decreased by six points during the quarter to 105 (quarter two 2002 was 111). 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 41,289 applications to start new homes during the third quarter, showing almost no change on the same period in 2001 (41,175). Of that total, 37,545 relate to private sector activity (i.e. excluding housing associations), and show a one per cent decrease on 2001 (37,956). Housing association starts totalled 3,744 - an increase of 16 per cent on quarter three 2001 (3,219). NHBC UK figures show there were 39,115 new build completions during the third quarter of 2002, showing a two per cent increase on the same quarter last year (38,503). The figure for the average daily sales of new homes in the third quarter of 2002 is 576, an increase of eight per cent on the same period a year ago (534). ends
