Tom Kirk, NHBC director for Northern Ireland, says: "Northern Ireland saw an encouraging increase in the number of new house starts over the past three months when compared to the same period in 2001. In particular, the number of applications to start new homes in Londonderry rose by almost 50 per cent in the last quarter of 2002."

In Northern Ireland the average anticipated selling price of new homes (registered with NHBC) during the fourth quarter of 2002 was £105,000, a six per cent increase on quarter four 2001 (£99,000). Based on actual selling prices, the proportion of homes sold for over £100,000 was 40 per cent, an increase on the same period last year (32 per cent).

NHBC's  first time buyers' ability to buy index decreased by two points during the quarter to 103 (quarter three 2002 was 105). 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 41,277 applications to start new homes during the fourth quarter, showing a 15 per cent increase on the same period in 2001 (35,915). Of that total, 37,727 relate to private sector activity (i.e. excluding housing associations), showing a 15 per cent increase on 2001 (32,849). Housing association starts totalled 3,551 - an increase of 16 per cent on quarter four 2001 (3,068).

NHBC UK figures show there were 46,320 new build completions during the fourth quarter of 2002, showing a 20 per cent increase on the same quarter last year (38,525).

The figure for the average daily sales of new homes in quarter four 2002 is 553, an increase of five per cent on the same period a year ago (527).

Q4 2002 regional figures