Republic price rise in houses twice the NI rate

House prices in the Republic are increasing at more than twice the rate in Northern Ireland, according to the North-South statistical…

House prices in the Republic are increasing at more than twice the rate in Northern Ireland, according to the North-South statistical profile.

Six years ago a new house in the North cost £15,000 more than in the South, £76,880 (£62,000 sterling) compared to £61,425 in the Republic on average.

By 1999 the situation had reversed, with the average new house price in the Republic at £116,970, compared to £93,000 (£75,000 sterling) in the North.

The higher inflation rate reflects a greater demand for home ownership in the South.

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In 1994-5, the most recent year for which figures are given, only 10 per cent of people in the Republic rented from local authorities and 7 per cent from private landlords. This compares to 28 per cent and 8 per cent respectively in Northern Ireland.

Similarly, 44 per cent of people in the Republic owned their homes outright and 37 per cent with a mortgage. The corresponding figures for the North were 29 per cent and 34 per cent.

The study, Ireland, North and South: A Statistical Profile, also shows that house-building is increasing at a faster rate in the South.

In 1999, 46,512 dwellings were completed in the Republic, almost 20,000 more than in 1994. In Northern Ireland in that year, the number of completed dwellings rose from 6,731 to 10,399.

Households in the Republic are also shown to be slightly larger on average than Northern Ireland households. A fifth of households in the Republic in 1997 comprised five people or more, compared to 14 per cent in the North.

The average household size in the same year was 2.97 in the Republic (a decline from 3.10 in 1993), and 2.74 in Northern Ireland (a decline from 2.79 in 1993).

On migration there are further contrasts. Net migration has increased over the past five years in the Republic while the reverse is the case in Northern Ireland.

In 1999 there were an estimated 47,500 inward migrants to the Republic compared to 29,000 outward migrants.

In the same year Northern Ireland saw 18,900 inward migrants and 21,800 outward migrants.

The Republic's age profile is also younger, with 25 per cent of the population in the 10-24 age bracket compared to 22 per cent in the North.

Around 25 per cent of the Republic's population falls in 50-or-older bracket, compared to 28 per cent of Northern Ireland's population.

Tourist numbers are increasing at a much higher rate in the Republic compared to Northern Ireland. Over the past five years, the number of visitors to the South increased by 65 per cent while the North recorded an increase of 28 per cent.

Joe Humphreys

Joe Humphreys

Joe Humphreys is an Assistant News Editor at The Irish Times and writer of the Unthinkable philosophy column