UK Regions News special: Northern Ireland housing valued at £100.7bn says Savills

Northern Ireland's housing stock reached £100.7bn in 2018, a rise in value by 6%, representing an increase of £5.7bn says Savills.

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The total value of Northern Ireland’s housing stock reached £100.7bn in 2018, analysis by Savills has found. Although it represents only a tiny fraction of the UK total, in the last year the local housing stock rose in value by 6%, representing an increase of £5.7bn.

The Belfast Telegraph’s feature reported that the total value of the UK’s housing stock reached a record £7.29 trillion in 2018, according to Savills.

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Lawrence Bowles

“Our analysis demonstrates the scale of the housing market and underlines the importance of housing to the economies of London and the UK as a whole, both as an asset class and store of private wealth,” said Lawrence Bowles, residential research analyst at Savills.

“As affordability becomes more stretched, younger households are having to put off buying their first home until later in life.”

Despite a slowdown in the housing market amid Brexit concerns, the total value of UK housing stock increased by £190bn. The gains came from outside London, as the total value of its residential housing stock recorded a £26.2bn fall, the first decrease since 2009.

In comparison, London’s housing stock is still worth £1.77 trillion – more than four times the combined value of homes in Birmingham, Manchester, Edinburgh, Glasgow, Cardiff, Bristol, Liverpool, and Sheffield.

The total value of Northern Ireland’s housing stock reached £100.7bn in 2018, analysis has found. Although it represents only a tiny fraction of the UK total, last year saw the local housing stock rise in value by 6%.


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