Northern Ireland construction industry surges in 2019
A new report form the Northern Ireland Statistics and Research Agency (NISRA) has revealed that construction activity in the country increased by 7.6% in the first quarter of 2019 against the same time last year.
The report also stated that the actual volume of output experienced a 2.3% increase in Q1 of 2019, up from the figures present in Q4 of 2019.
Despite remaining considerably lower than historic levels, a 7.7% increase in housing output is credited for the rise in quarter on quarter output, alongside an influx of new work. Ground is expected to be broken on a number of key sites across Northern Ireland during the rest of the year, such as the newly announced 250 home developments in Lisburn and Castlereagh.
While the increase is encouraging, there is still some long term industry concern as to future sustainability, mainly as a result of the continued absence of a functioning Stormont Executive condemning several major development projects to planning decision limbo.
If you are buying, selling or remortgaging a property in Northern Ireland and require a property conveyancing solicitor to handle the legal process for you, contact Wilson Nesbitt in Belfast or Bangor by clicking here.