Demand for Building Regulation applications across Armagh, Banbridge and Craigavon Borough indicates positive news for the construction industry.
Armagh City, Banbridge and Craigavon Borough Council recorded its highest ever number of domestic Building Regulation applications in June 2022, indicating a significant construction boom post pandemic.
On an average month, the Building Control Department normallyreceive applications with an estimated construction investment value of between£15 to £20 million, however in June the department received applications with a notional construction investment value of over £186 million potential expenditure within the borough.
This significant rise in applications is set to bolster the local economy with applications for 2,000 new houses, including 67 new developments submitted, revealing a sharp increase in demand for housing approvals across the borough.
Commenting on the latest statistics for the Building Control Department the Lord Mayor of Armagh City, Banbridge and Craigavon Borough, Councillor Paul Greenfield said:
“These figures signal an extremely positive outlook for the borough, highlighting a significant level of construction investment planned in the years ahead. This is a major sign of confidence for the local economy, with growing demand within our housing and commercial markets indicating that our borough is a sought-after place to invest, live and prosper.
“As a Council we are committed to supporting this positive outlook by actively lobbying government for long-term investment in infrastructure projects, including road and transport systems to support this inward investment. We also have many plans in place to secure funding for community, arts, tourism and leisure initiatives, to further enhance the Borough as a progressive, vibrant, desirable location to live”.
This news comes as the Quarterly House Price Index, produced by Ulster University in partnership with the Northern Ireland Housing Executive and Progressive Building Society, indicates that there is a strong demand for housing across Northern Ireland, despite growing economic uncertainties. According to the research, the two defining factors influencing NI’s housing market throughout 2022 will continue to be market resilience and acute supply shortage.
Armagh City, Banbridge and Craigavon Borough Council consistently rank among the top three Councils in Northern Ireland for delivery of new housing, and has plans in place to effectively deal with the increasing volume of applications currently being experienced.