Brian Black reports on the housing market and debates the question of what is the cost of becoming a home owner in Northern Ireland. 

A large problem for home owners is the scale of development occurring around Northern Ireland. In particular, this can be an issue when one site is continually building over a long time scale. One of the people such a problem has effected is Gabrielle Heaney, who bought a house four years ago which needed substantial work. Since then, Gabrielle has had her house reevaluated and found it is worth less than what she has paid for it, due to having to contend with the newer homes on the development. 

Alastair McQuoid (Royal Inst. of Chartered Surveyors), acknowledges this by stating that there "is always a settling down period, were you will find that over one or two years... there is competition between the new house and the second hand house which is only a year old". 

However, it is not all bleak with Alaister Adair (University of Ulster) discussing that though in 1987 NI housing has reached a plateau, "it masks the first two years were house prices did keep pace with inflation, in fact in 1986 research showed house prices rose by 6%".

A UTV Production.

Production: Jamie Delargy

Director: Alan Hailes

Editor: Hugh Owens. 

Also Featured:Ivor Oswald (Building Societies Assoc.),  Joe Nellis (Cranfield INST. Of Technology), Bill Thompson (Estate Agent),  Kevin Butler (Co-ownership Assoc.), Gordon Mawhinney (Property Consultant), Michael Ferguson and Gordon Burnison (Builders’ Federation) 

• NI Direct - PRONI