Construction News

13/06/2013

NI House Prices Continue To Drop

The Social Development Minister has welcomed the latest figures from the Northern Ireland Housing Bulletin which were published today.

The Northern Ireland Housing Bulletin is produced each quarter by the Analytical Services Unit of the Department for Social Development and today's figures cover the period October to December 2012.

Commenting on the latest Housing Bulletin, Nelson McCausland said: "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.

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"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.

He concluded: "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."

(CD/MH)

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