NI Housing Market News

Two days filled with lots of news, information and statistics on the Northern Ireland Housing market. See our summary of the main facts and figures you need to know:

Northern Ireland Housing Bulletin for quarter January – March 2017, published Tuesday 8th August (published by the Department for Communities and Northern Ireland Statistics & Research Agency)

  • 40% increase in homelessness in Northern Ireland following £3 million reduction in funding which assists 20,000+ people
  • 5,242 households presented as homeless in the quarter creating concern from a coalition of charitable and voluntary groups that we are on the verge of a homelessness crisis
  • Social housebuilding is making a vital contribution to the demand for new housing in NI, exceeding their target of 1,600 starts between March 2016-2017, however 2,000+ social starts are really needed per year.
  • Ongoing recovery in housebuilding is being met by slowing momentum in the house sales
  • There has been a welcome increase in the number of new homes started, which are up 16% on the same quarter last year, but residential property sales have slowed
  • Buyer demand has stagnated since the quarter of the EU referendum

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The Ulster University Quarterly House Price Index report April – June 2017, published Wednesday 9th August (in partnership with the Northern Ireland Housing Executive and Progressive Building Society)

  • 2,372 house sales in the most recent quarter meant a 10 year record high
  • Highest level of house sales since the property crash in 2007
  • Average house price has fallen slightly by 3.7% to £148,499
  • Professor Stanley McGreal from Ulster University commented that while sales levels are high suggesting a strong market, this is not reflected in average house prices
  • Karly Greene, NI Housing Executive head of Research and Equality, added that a strong influence has come from the current unstable political and economic environment, providing little stimulus for house price growth. However, this has created an opportunity for many potential buyers, particularly first time buyers, to purchase an affordable home

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