Survey shows Northern Ireland construction activity rise

By Lauren Burns

A new business survey suggests that the Northern Ireland construction sector is starting to see some recovery, with the fastest rate of growth in over 10 years recorded in May.

The Purchasers Managers Index (PMI) is produced by Ulster Bank and surveys construction firms on various key points such as new business activity, employment and export levels. While the ten year high of activity recorded in May is positive news, it is not yet the sign of a return to form for the construction market in Northern Ireland, which was hit significantly by the property crash in 2007/08. In the last quarter of 2013 the number of new houses being built was still in decline, as it has been for around 5 years now.

The figures are nonetheless welcome news for all involved in the property market, as increasing demand from house purchasers once again threatens to highlight a severe lack of properties in Northern Ireland.

If you are buying, selling or remortgaging a property in Northern Ireland, contact one of the conveyancing solicitors at Wilson Nesbitt in Belfast for advice or information by calling 0800 840 9290.