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13/06/2013
NI Property Prices Fall
Property prices in Northern Ireland continue to fall, according to the latest Northern Ireland Housing Bulletin.
In the first quarter of 2013, the Northern Ireland Residential Property Price Index stood at 87.
Between October - December 2012 and January - March 2013, residential property prices fell by 1%.
For the first quarter of 2013, the standardised residential property price was found to be 6% lower than the same quarter in 2012 and 13% lower than in the first quarter of 2005.
The Northern Ireland Housing Bulletin, for the period October to December 2012, was published by the Department for Social Development today.
There has been a substantial increase in the number of new dwelling starts for the period, however, with the total number standing at 1,403; an increase of 49% on the same period in 2011.
The total number of new dwelling completions was 2,394, an increase of 64% on the same period in 2011.
Social Development Minister Nelson McCausland said: "Overall today’s latest housing report is a mixed bag with house prices continuing to fall on one hand but the number of new builds and completions increasing on the other. The local housing market continues to suffer from the fallout of the economic downturn but to a lesser degree and I hope the improving picture in these statistics the beginning of a return to growth for the housing sector."
"Today’s figures provide some grounds for optimism about the state of the local housing market. In the last twelve months the amount of new builds has almost doubled with an increase of 49% in the number of new starts year on year.
"The number of completed new builds has increased by 64% in the same period which is a significant development and a welcome boost to the housing sector."
(IT/CD)
In the first quarter of 2013, the Northern Ireland Residential Property Price Index stood at 87.
Between October - December 2012 and January - March 2013, residential property prices fell by 1%.
For the first quarter of 2013, the standardised residential property price was found to be 6% lower than the same quarter in 2012 and 13% lower than in the first quarter of 2005.
The Northern Ireland Housing Bulletin, for the period October to December 2012, was published by the Department for Social Development today.
There has been a substantial increase in the number of new dwelling starts for the period, however, with the total number standing at 1,403; an increase of 49% on the same period in 2011.
The total number of new dwelling completions was 2,394, an increase of 64% on the same period in 2011.
Social Development Minister Nelson McCausland said: "Overall today’s latest housing report is a mixed bag with house prices continuing to fall on one hand but the number of new builds and completions increasing on the other. The local housing market continues to suffer from the fallout of the economic downturn but to a lesser degree and I hope the improving picture in these statistics the beginning of a return to growth for the housing sector."
"Today’s figures provide some grounds for optimism about the state of the local housing market. In the last twelve months the amount of new builds has almost doubled with an increase of 49% in the number of new starts year on year.
"The number of completed new builds has increased by 64% in the same period which is a significant development and a welcome boost to the housing sector."
(IT/CD)
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Northern Ireland WeatherThis Evening and Tonight:Dry in the southeast at first otherwise widespread light rain or drizzle for most. It will turn mostly dry towards dawn, although a few patches of light rain or drizzle continuing, mainly in the southwest. Minimum temperature 5 °C.
