Housing market recovery continues despite EU referendum jitters
Commenting on the Northern Ireland Housing Bulletin April – June 2016, released today, Nicola McCrudden, Chartered Institute of Housing (CIH) director for Northern Ireland, said: "These new figures carry some welcome signs for the housing market, but there’s still room for improvement.
"The number of new homes being built is at the highest level in almost six years. This growth is being driven by the on-going recovery of the private sector which had an excellent quarter, completing ten per cent more homes on the previous year.
"While house prices continued to increase with a growth of 3.8 per cent between the first and second quarters of 2016, there were only 4,075 residential property sales – a decrease of 28 per cent and the lowest number in three years.
"This drop in market activity is worrying and may reflect the uncertainty experienced in the lead up to the EU referendum.
"All things considered the housing market recovery is well underway – we now need to build on this recovery by releasing more public sector land for housing development, including social homes which play a vital role in housing homeless families.
"Today's figures reveal only 205 households accepted as homeless were housed during the quarter – a 74 per cent decrease on the previous year and one of the lowest levels on record. This means more families are being left in temporary accommodation which impacts on their well-being.
"The government must urgently review homelessness legislation to focus on preventing more people from becoming homeless in the first place."
For more information please contact Justin Cartwright, CIH Northern Ireland policy and public affairs manager on 028 9077 8222, 07824 304 351 or firstname.lastname@example.org.
1. The Chartered Institute of Housing (CIH) is the independent voice for housing and the home of professional standards. Our goal is simple – to provide housing professionals with the advice, support and knowledge they need to be brilliant. CIH is a registered charity and not-for-profit organisation. This means that the money we make is put back into the organisation and funds the activities we carry out to support the housing sector. We have a diverse membership of people who work in both the public and private sectors, in 20 countries on five continents across the world.