Northern Ireland site sales 'catch up' with homes demand
The availability of sites in Northern Ireland is finally catching up with demand for new housing, it's been claimed.
New homes are being built in the province in growing numbers, with a 30% increase in new home starts to to 3,223 recorded in 2015.
And while around 5,000 new homes are finished by builders in Northern Ireland every year, industry groups - including the Construction Employers Federation (CEF) - have said around 11,000 new homes are needed every year to meet demand.
In today's Business Telegraph, three residential sites are on the market, including a 1.3 acre site at Old Mill Grove in Dundonald, on the market for £0.8m, along with a three acre site at Upper Dromore Road.
And in south Belfast, a 12 acre site on Upper Malone Road is on the market for £1.5m.
John Armstrong, the head of the Construction Employers Federation, said the profliferation of sites for sale was welcome. "While housebuilding has been picking up, there aren't enough houses being built - and this could be an indication that the availability of sites is now catching up.
"And in addition, sites need to come available in areas where people want to live."
It comes as three major residential sites go on the market - including a 12 acre site on Upper Malone Road, which is on the market for £1.5m.
Lisa McAteer, director at selling agents CBRE, said: "This extensive site of over 12 acres presents a rare opportunity to acquire prime residential land in the Lagan Valley area of South Belfast, a highly desirable location with easy access to motorways, schools and both Belfast and Lisburn city centres."