Q3 2003 new house-building statistics Northern Ireland 14/02/06
House-building activity in Northern Ireland saw an increase during quarter three 2003 according to statistics released today by NHBC.
NHBC figures for Northern Ireland, including the Isle of Man, reveal that a total of 2,902 applications were made to start new homes during the quarter, an increase of 21 per cent on the same period in 2002 (2,397).
Tom Kirk, NHBC Director for Northern Ireland, says: "The Northern Ireland new housing sector continues to show signs of growth, as the number of new homes started in Northern Ireland increased by nearly a quarter compared to the same period last year. To date the number of starts in Northern Ireland this year is up 13 per cent on last years figures."
In Northern Ireland the average anticipated selling price of new homes (registered with NHBC) during quarter three 2003 was £115,000, a 13 per cent increase on quarter three 2002 (£102,000). Based on actual selling prices, the proportion of homes sold for over £100,000 was 48 per cent, an increase on the same period last year (42 per cent).
NHBC's first time buyers' ability to buy index decreased by one point during the quarter to 99 (quarter two was 100.) 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 45,067 applications to start new homes during the third quarter, showing a nine per cent increase on the same period in 2002 (41,311). Of that total, 40,924 relate to private sector activity (i.e. excluding housing associations), showing a nine per cent increase on the same quarter of 2002 (37,567). Housing association starts totalled 4,143 - an increase of 11 per cent on quarter three 2002 (3,744).
NHBC UK figures show that there were 38,439 new build completions during quarter three of 2003, a four per cent decrease on the same quarter last year (40,072).
The figure for the average daily sales of new homes in quarter three 2003 was 507, a decrease of ten per cent on the same period a year ago (563).
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