Q2 2003 new house-building statistics Northern Ireland 14/02/06
House-building activity in Northern Ireland saw an increase during the second quarter of 2003 according to statistics released today by NHBC.
NHBC figures for Northern Ireland, including the Isle of Man, reveal that a total of 2,780 applications were made to start new homes during the quarter, an increase of 13 per cent on the same period in 2002 (2,455).
Tom Kirk, NHBC Director for Northern Ireland, says: "The number of new homes started in Northern Ireland has increased this quarter compared to the same period last year. NHBC figures also show that starts are up five per cent on the last quarter. This is encouraging growth in the new housing sector in Northern Ireland."
In Northern Ireland the average anticipated selling price of new homes (registered with NHBC) during the second quarter of 2003 was £104,000, a three per cent increase on quarter two 2002 (£101,000). Based on actual selling prices, the proportion of homes sold for over £100,000 was 41 per cent, an increase on the same period last year (36 per cent).
NHBC's first time buyers' ability to buy index decreased by two points during the quarter to 101 (quarter one 2003 was 103). 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 43,703 applications to start new homes during the second quarter, showing a five per cent decrease on the same period in 2002 (46,007). Of that total, 38,164 relate to private sector activity (i.e. excluding housing associations), showing an eight per cent decrease on the same quarter of 2002 (41,582). Housing association starts totalled 5,539 - an increase of 23 per cent on quarter two 2002 (4,501).
NHBC UK figures show that there were 44,495 new build completions during the second quarter of 2003, a 14 per cent increase on the same quarter last year (39,179).
The figure for the average daily sales of new homes in quarter two 2003 is 541, a decrease of eight per cent on the same period a year ago (590).
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