Nothing under £50,000 for first-time buyers

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Northern Ireland

For the first time £50,000 will get you absolutely nothing if you’re hunting for a new house in Northern Ireland.  For as prices in the north continue to buck trends by showing sustained hikes, figures yesterday revealed that in the last three months, not a single new-build property in the north was in the under – £50k bracket.

Indeed in the whole a mere 0.1 per cent of newly-constructed houses – or just 10 properties – would have given buyers any change from their £50,000.  And the figures are certain to further hamper first-time buyers’ ability to get a first rung on the property ladder.

The numbers are contained in the last quarterly activity bulletin from the New House Building Council (NHBC), whose statistics are based entirely on information relating to its 19,000 registered house builders who construct 85 per cent of all new homes built in the UK.

In Northern Ireland the average anticipated selling price of new homes registered with NHBC during quarter four was £126,000, a 10 per cent increase on quarter four 2003 (£115,000).  There was also a 20 per cent increase in housing starts in quarter four (2,436) compared with the corresponding period the year before (2,033).