Q2 2004 new house-building statistics Northern Ireland 14/02/06
House-building activity in Northern Ireland decreased during the second quarter of 2004 according to statistics released today by NHBC.
NHBC figures for Northern Ireland, including the Isle of Man, reveal that a total of 2,719 applications were made to start new homes during the quarter, showing a two per cent decrease on the same period in 2003 (2,780).
Tom Kirk, NHBC Director for Northern Ireland, says: "There was a slight decrease in the number of starts in Northern Ireland for quarter two. However NHBC statistics show that so far this year the number of starts in Northern Ireland are up four per cent on last year."
In Northern Ireland the average anticipated selling price of new homes (registered with NHBC) during quarter two 2004 was £120,000, a fifteen per cent increase on quarter two 2003 (£104,000). Based on actual selling prices, the proportion of homes sold for over £100,000 was 56 per cent, an increase on the same period last year (42 per cent).
NHBC's first time buyers' ability to buy index decreased by fourteen points during the quarter to 75 (quarter one was 89.) 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 45,375 applications to start new homes during quarter two of 2004, showing a four per cent increase on the same period in 2003 (43,684). Of that total, 39,457 relate to private sector activity (i.e. excluding housing associations), showing a three per cent increase on the same quarter of 2003 (38,240). Housing association starts totalled 5,918 - an increase of seven per cent on quarter two 2003 (5,539).
NHBC UK figures show that there were 44,724 new build completions during quarter two of 2004, showing less than a one per cent decrease on the same quarter last year (45,015).
The figure for the average daily sales of new homes in the UK in quarter two 2004 was 611, an increase of thirteen per cent on the same period in 2003 (541).
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