CONSTRUCTION MARKET ANALYSIS
A NEW REPORT BY CONSTRUCTION INFORMATION SERVICES SHOWS AN ALARMING DROP IN HOUSING COMPLETIONS ACROSS NORTHERN IRELAND AND ONGOING INFRASTRUCTURE BOTTLENECKS… Water infrastructure issues take their toll on residential development
Northern Ireland’s acute housing crisis shows no sign of abating, as revealed by a new report from Construction Information Services (CIS), a leading provider of verified, real-time construction intelligence. Covering data up to Q3 2024, the report highlights significant challenges in the region’s residential sector,
“Key regions have been particularly affected. In the first half of 2024, Belfast, one of the most critical areas for housing supply, experienced 266 completions – well below the required levels to meet ongoing demand. “If this current pace continues for the remainder of 2024, it will mark another challenging year for the housing market.
housing completions across NI, which could have significant implications for meeting the diverse housing needs across the nation. The CIS report underscores a persistent gap between private and social housing completions. In Q3 2024, 5,509 private units were completed, compared to just 501 social units. This gap highlights the limited availability of affordable housing for lower-income groups. “Addressing the shortfall in both social and affordable housing is critical – particularly as demand for low-cost homes continues to rise,” said Dave. “Without a greater emphasis on both of these areas, NI will struggle to meet the current housing demand, particularly as economic pressures intensify.”
Dave Thompson, Commercial Director at CIS.
including a concerning drop in housing completions and ongoing infrastructure bottlenecks. Slower progress is apparent in 2024 compared to previous years. In the first three quarters of the year, a total of 2,778 housing completions were recorded, well below historical levels. This marks a continuing decline from the 5,373 in 2023, exacerbating the growing housing demand. Dave Thompson, CIS Commercial Director, said, “NI Water, the public body that maintains our water supply and infrastructure, has said that limits to its funding mean that it can’t provide the infrastructure to support the strong demand for housing developments. We have seen the impact that these issues have had in Q1/Q2/Q3 2024 with significant reductions in housing activity.
This continued decline could impact home availability, particularly in key urban centres. These issues, largely driven by under-investment, have limited the region’s capacity to meet housing demand, particularly in high-demand regions like Belfast, Antrim and Newtownabbey.”
Total completions in 2024 are projected to fall significantly short of 2023 levels, marking the fifth consecutive year of declining residential completions. The data reveals a significant imbalance between private and social
“The data reveals a significant imbalance between private and social housing completions across NI.”
102 | NI BUILDER
FOLLOW US ON:
www.nibuilder.co.uk
Made with FlippingBook - professional solution for displaying marketing and sales documents online