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Northern Ireland Housing Statistics

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Key Facts from the ‘Northern Ireland Housing Statistics 2009-10:

There were approximately 743,500 dwellings in Northern Ireland at 31st March 2010, a rise of 6,200 (0.8%) on March 2009.

Owner-occupied dwellings accounted for 483,600, i.e. 69.3% of total occupied stock (698,300).

14,246 residential planning applications were granted, a decrease of 19.9% on 2008-09.

8,427 new dwellings were started during 2009-10, of which 80.7% were commissioned by the private sector.

18,664 households presented as homeless, an increase of 3.3% on 2008-09.

Total number of Northern Ireland Housing Executive tenancies increased from 87,579 at 31st March 2009 to stand at 87,840 at 31st March 2010.

The number of dwellings sold by Northern Ireland Housing Executive increased by 359.7% from the previous year to 285 for 2009-10.

3,658 actions for mortgage possession were recorded for 2009-10, a decrease of 6.1% from the previous year.

The average price of National House Building Council-registered houses sold during 2009-10 was £165,000, a decrease of 8.8% from the previous year.

The average rent per week in Northern Ireland in 2008-09 (taken from the Family Resources Survey) was £76.00, some £57.00 below the UK average (£133.00).

Construction output for Private Sector new housing was 7.4% higher in January-March 2010 (£180.4 million) than for the same period in 2009 (£168.0 million).

The median mortgage for first time buyers in 2002 was £58,900. By 2009 the median mortgage had increased to £95,310. However, the figure had fallen from £120,000 in 2007.

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The median mortgage for first time buyers in 2002 was £58,900. By 2009 the median mortgage had increased to £95,310. However, the figure had fallen from £120,000 in 2007.

Affordability or CREDIT BUBBLE?

Are we still in a credit bubble? Have lenders returned to the same lending criteria as 2002? Or are mortgages just that much more affordable these days with an historically unprescedented BoE base rate of 0.5%?

Time will tell.

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Affordability or CREDIT BUBBLE?

Are we still in a credit bubble? Have lenders returned to the same lending criteria as 2002? Or are mortgages just that much more affordable these days with an historically unprescedented BoE base rate of 0.5%?

Time will tell.

Please pass on all details you have of mortgages at 0.5% interest rates. For that matter even double, no treble, no quadruple, ah anything less than the average rate over the last 15 years.

Average mortgage advance £95k

Average household income of borrower £40k

Are we still in a Credit Bubble?

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Please pass on all details you have of mortgages at 0.5% interest rates. For that matter even double, no treble, no quadruple, ah anything less than the average rate over the last 15 years.

... I didn't say there are any mortages at that rate. :rolleyes: You know the historical average for BoE base rates, over the past 300 years, is 5%. And the average since WW2 has been over 7%.

Average mortgage advance £95k

Average household income of borrower £40k

Are we still in a Credit Bubble?

... absolutely.

The council of vested interests figure of £40k is itself a function of the credit bubble.

Come to think of it, the ONS average single income is probably effected by the credit bubble.

If I am right, this could get really bad/good (delete as necessary) for house prices. Falling incomes, falling house prices and less bank lending. :ph34r:

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MTG interest rates are lower now than ever. When BOE base rate was around 5% the common standard variable rate offered by banks was in the region of 7% plus. Most ppl therefore went into fixed rates commonly around the 5%/6% region as no-one expected BOE base rate to drop,everyone thought it was more likely to go up b4 the crunch. They didnt really consider what would happen at the end of their MTG fixed term period as MTG's where being served up like fast food and they simply assumed that there would be another fixed rate available for them. When the fixed period for a lot of these loans ended right smack bang in the middle of the credit crunch what most found was that the mortgage availability for them was removed based on fewer mtg options, removal of self cert mtgs, stricter lending etc etc etc and they had no choice but to revert to a standard variable rate of approx 7% plus - murdering their already limited disposable income.

The reduction of interest rates to 0.5% has dramatically reduced mortgage payments for ppl in this position as standard variable rate has reduced to around the 4% level in most banks. This interest rate drop has actually avoided alot of repossessions.

Fixed rate mortgages are not as popular now due to the low interest rates and Base rate tracker mortgages are now very popular with interest rates ranging from the low 1.5% region to 4% - depending on the lender.

When interest rates do go back up at some point dont under-estimate the impact this will have on household disposable income. A 4% rise will lead to more repossessions.

Edited by tinbin

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Just curious - where does the avg household income of £40k come from?

Average income in NI is £23,500. Two working people will on average earn 2 times this.

Granted not every house has two working people and many have none. However, house buying households, more often than not have two working people.

Two times the average income is £45k. However, the CML has put the most recent household income of borrowers at £40k.

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Average income in NI is £23,500. Two working people will on average earn 2 times this.

Granted not every house has two working people and many have none. However, house buying households, more often than not have two working people.

Two times the average income is £45k. However, the CML has put the most recent household income of borrowers at £40k.

where is it stated the average income is £23,000?

last year the average salary was 21,900 in the UK, but if you take away the earnings of the top 10% then this figure gets drastically reduced.

take away the top 10% in northern ireland and i'll bet the average is less than £17,000.

majority of civil service jobs in NI are of the AA, AO and associated grades, and those people on the top step get nowhere near the £23,000 mark i am told, and off last year the top of the AO scale was £17,000 (did a quick search about it earlier).

Edited by shifty_FTB

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The average household income for Northern Ireland in 2008 was £32,032 according to the ONS.

http://www.statistics.gov.uk/downloads/theme_social/Family-Spending-2008/FamilySpending2009.pdf

We already know the average single income in Northern Ireland for 2008 was £21k

It would seem that the average family do NOT have an income equal to 2x the average single income - except on BelfastVI's planet :rolleyes:

Here is another interesting report from the ONS...

http://www.statistics.gov.uk/pdfdir/fsreg0110.pdf

"Households in Northern Ireland have highest weekly spend of UK countries."

Edited by Belfast Boy

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belfast boy, there was another site that had northern ireland with the highest average income in the UK, it was over £46.000, no joke.

all these statistics about average earnings are a load of bull lol.

you might be right saying the average last year was £21,000, but that is skewed by the top earners, take say the top 20% away and see that figure fall quite alot.

get someone to go door to door in belfast and ask who earns £21,000 lol

Edited by shifty_FTB

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Couples with no children - 45k? - doesn't last very long in most cases with most women then going part time due to expensive childcare etc.... Where are all these couples with no kids in massive houses????

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Couples with no children - 45k? - doesn't last very long in most cases with most women then going part time due to expensive childcare etc.... Where are all these couples with no kids in massive houses????

... exactly. £45k may well be the average income of a couple with no children. But is the average household a childless couple?

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... exactly. £45k may well be the average income of a couple with no children. But is the average household a childless couple?

So now you accept it for childless couples.

These are government figures. whether we believe them or not is a personal matter. My point was that two working people in a household should, on average be on average income.

In the document I attached, a table is printed showing the average Gross Weekly Household Income by Tenure, which is interesting.

In NI we have the following. (2008 fig)

Owned outright £594 x 52 =£30k

Owned with Mortgage £867 x 52 =£45k

NIHE/Local Authority £240 x 52 = £21k

All Dwellings £635 x 52 = £33k

* I have used 52 weeks so adjust if you believe this should be 48 weeks.

To me the relevance of this is the difference between the Average 'All Dwellings'income and the 'Owned with Mortgage' income. The owned out right, I assume, would include alot of pensioners. It was mentioned above that the high earners skewed the average up. It may also be the case that the income of those in NIHE housing have skewed the average down.

However, the bracket that I am interested in is those with Mortgages, 'the private house buyers'. Their income is 35% above the average. Averages are dangerous things as we need to dig down deeper. I could claim, going by this data that the average household income of a house buyer is 36% higher than the Average Household. But that is probably not technically correct. But is does show that those who buy houses are on significantly higher income that the average household. It is stating the obvious I know, but when we (myself included) keep bringing things back to averages, we need to bear this in mind.

It was also suggested above that 'Households in Northern Ireland have highest weekly spend of UK countries'. Which is perhaps one way of looking at it. However if you break the figures down to the different regions you will find that NI has the 6th highest weekly spend and the 6th highest weekly income of the regions. In fact, we have the 4th highest surplus % of 27% (the highest is the East Midlands with 28%)

I am the first to agree that as soon as these figures are printed they are out of date and revisiting them again in 4 years will likely see us slipping further down the table, but it shows, despite what we sometimes think we are in the right half of the UK table.

These are not my figures, they were compiled by the Department for Social Development in Belfast, Planet Earth.

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So now you accept it for childless couples.

These are government figures. whether we believe them or not is a personal matter. My point was that two working people in a household should, on average be on average income.

In the document I attached, a table is printed showing the average Gross Weekly Household Income by Tenure, which is interesting.

In NI we have the following. (2008 fig)

Owned outright £594 x 52 =£30k

Owned with Mortgage £867 x 52 =£45k

NIHE/Local Authority £240 x 52 = £21k

All Dwellings £635 x 52 = £33k

* I have used 52 weeks so adjust if you believe this should be 48 weeks.

To me the relevance of this is the difference between the Average 'All Dwellings'income and the 'Owned with Mortgage' income. The owned out right, I assume, would include alot of pensioners. It was mentioned above that the high earners skewed the average up. It may also be the case that the income of those in NIHE housing have skewed the average down.

However, the bracket that I am interested in is those with Mortgages, 'the private house buyers'. Their income is 35% above the average. Averages are dangerous things as we need to dig down deeper. I could claim, going by this data that the average household income of a house buyer is 36% higher than the Average Household. But that is probably not technically correct. But is does show that those who buy houses are on significantly higher income that the average household. It is stating the obvious I know, but when we (myself included) keep bringing things back to averages, we need to bear this in mind.

It was also suggested above that 'Households in Northern Ireland have highest weekly spend of UK countries'. Which is perhaps one way of looking at it. However if you break the figures down to the different regions you will find that NI has the 6th highest weekly spend and the 6th highest weekly income of the regions. In fact, we have the 4th highest surplus % of 27% (the highest is the East Midlands with 28%)

I am the first to agree that as soon as these figures are printed they are out of date and revisiting them again in 4 years will likely see us slipping further down the table, but it shows, despite what we sometimes think we are in the right half of the UK table.

These are not my figures, they were compiled by the Department for Social Development in Belfast, Planet Earth.

are you implying the dpt of social developement under i think our favourite meg at the time live on planet earth?

to be a little more serious how did they arrive at the above figures?

did they ask you your personal circumstance?

they didnt ask me

rock on!

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Average earnings is a difficult debate to use when looking at whether we have reached the affordability levels again for Mortgages... or to debate at all for that matter without looking deeper into it.

The problem is that these figures are calulated based on many different variables i.e. Different sectors, regions, age groups, employment types. They are generally not specific.

I think most would agree that one of the problems we have now is the ability for first time buyers to obtain mortgages. I would seriously question that the average earnings for First Time Buyers (or more specifically ppl probably in the age range from 18-30) have any where near the £45+ approx average earnings quoted.

Most starting salaries are around the £10-12k region for young ppl now in 'white-collar' employment. If they are lucky they will get a 2% pay rise each year so it doesn't take too many sums to calculate that the affordability for these ppl for MTG's simply isnt there.

I accept that 'Blue-collar' workers do get paid more but have significant less job security and most of these workers, particularly in N.I have been/are employed within the Construction sector and may have lost their jobs over the last few years.

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I would seriously question that the average earnings for First Time Buyers (or more specifically ppl probably in the age range from 18-30) have any where near the £45+ approx average earnings quoted.

Whoops ... meant sole earnings of £23,500 or joint of £45k +

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Average earnings is a difficult debate to use when looking at whether we have reached the affordability levels again for Mortgages... or to debate at all for that matter without looking deeper into it.

The problem is that these figures are calulated based on many different variables i.e. Different sectors, regions, age groups, employment types. They are generally not specific.

I think most would agree that one of the problems we have now is the ability for first time buyers to obtain mortgages. I would seriously question that the average earnings for First Time Buyers (or more specifically ppl probably in the age range from 18-30) have any where near the £45+ approx average earnings quoted.

Most starting salaries are around the £10-12k region for young ppl now in 'white-collar' employment. If they are lucky they will get a 2% pay rise each year so it doesn't take too many sums to calculate that the affordability for these ppl for MTG's simply isnt there.

I accept that 'Blue-collar' workers do get paid more but have significant less job security and most of these workers, particularly in N.I have been/are employed within the Construction sector and may have lost their jobs over the last few years.

I agree with you there Tinbin that starting Salaries are normally below the average income of £23k. When you commence work at 18, or later if you attend college you will normally expect to start below average income, then work their way up to, and hopefully surpass the average income.

Equally we have to accept that most FTBer's don't by an average priced house.They generally start off lower down and work their way up to an average priced house and hopefully move again to surpass it.

The average FTBer is around 28/30 years old and has been working for 8 to 12 years and have climbed the pay scale from the starting amounts.

As I pointed out above. The people who decide to go into home ownership tend to be on higher incomes than average. This will also apply to FTBer's.

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I agree with you there Tinbin that starting Salaries are normally below the average income of £23k. When you commence work at 18, or later if you attend college you will normally expect to start below average income, then work their way up to, and hopefully surpass the average income.

Equally we have to accept that most FTBer's don't by an average priced house.They generally start off lower down and work their way up to an average priced house and hopefully move again to surpass it.

The average FTBer is around 28/30 years old and has been working for 8 to 12 years and have climbed the pay scale from the starting amounts.

As I pointed out above. The people who decide to go into home ownership tend to be on higher incomes than average. This will also apply to FTBer's.

or in how many cases in the good old days

liar loans?

rock on!

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The average FTBer is around 28/30 years old....

Why did the Independant newspaper have a different age for the average FTB just last weekend?

http://www.independent.co.uk/money/mortgages/julian-knight-dont-let-the-lenders-have-another-go-at-the-mortgage-punchbowl-2127264.html

"The average age of a first-time buyer is now 37."

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or in how many cases in the good old days

liar loans?

rock on!

You beat me to that one.

I have some experience of self-certified mortgages. In 2007 a well know high street bank offered me a mortgage of 8 times my income. The repayments would have been 90% of my monthly income. I would have struggled to afford to eat, but atleast I would have had a very nice townhouse. All I had to do to get the mortgage was to put on the application that I earned double my actual earnings. I had never heard of liar loans at that point.

Has anyone bothered double checking the actual earning of people who applied for mortgages during the credit bubble?

Edited by Belfast Boy

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He may get it in the article but check if the houses his agency are selling are at 2005 levels --- I don't think so.

tut tut doccy

"are trying to sell "

from his interview on the radio

dont seem to be much selling of course its the time of the year!

rock on!

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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