Belfast Telegraph

Northern Ireland people less concerned over housing downturn in future: report

View: Paddy O’Connell
View: Paddy O’Connell

By Staff Reporter

Tenants and homeowners in Northern Ireland are feeling more comfortable about the future than those in the Republic, according to a report.

Business advisory firm RSM carried out a survey in which 61% of people in the Republic said they were concerned about the risk of a housing downturn in future, compared to just 37% of those surveyed in Northern Ireland.

Around 60% of people surveyed in the Republic also expected the value of their house to increase in the next few years, compared to just 33% here.

And just under 30% of people in the Republic reported being in negative equity, compared to 17% in Northern Ireland.

Of those surveyed, adults in Northern Ireland are more likely than those in Republic to be home owners, with 52% of those surveyed homeowners, compared with 38% in the Republic of Ireland.

Nearly three-quarters of people in the Republic said affordability would put them off buying a house, compared to 60% of those surveyed in Northern Ireland.

Paddy O' Connell, construction lead at RSM, said: "The results of the survey verify that people are feeling uncertain about their circumstances in the Republic, whether they are renting or homeowners. While respondents in the Republic are more concerned about a downturn, this is likely to be as a result of their past experiences. Respondents also have expectations that the value of their homes is going to continue at the pace that it has, which in itself is creating a block in activity. These issues are fuelled by the ongoing mismatch between supply and demand."

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Belfast Telegraph