First trust to recog­nise res­i­den­tial de­vel­op­ment of the year

Belfast Telegraph - Propertynews - - News -

First Trust Bank has had an ac­tive part in help­ing bring op­ti­mism back to the prop­erty mar­ket and now the com­pany hopes to shine a light on others who have also played a role by com­ing on board for the 2016 Belfast Tele­graph Prop­erty Awards.

The bank is spon­sor­ing the Res­i­den­tial De­vel­op­ment of the Year award in our show­case event which will bring to­gether peo­ple from across the in­dus­try for a ma­jor cel­e­bra­tion in Novem­ber.

The North­ern Ire­land Hous­ing Mar­ket Re­view Per­spec­tives 20152018 paints an op­ti­mistic pic­ture of the prop­erty mar­ket.

Since 2012 there has been a steady in­crease in the num­ber of res­i­den­tial prop­erty sales trans- ac­tions, and in 2014 there were more than 20,000.

As the lo­cal hous­ing mar­ket re­turns to a more nor­malised level, with the pur­chase of res­i­den­tial de­vel­op­ment land gain­ing mo­men­tum and the de­liv­ery of an in­creased num­ber of new builds help­ing to ad­dress the cur­rent sup­ply/de­mand im­bal­ance, the over­all num­ber of trans­ac­tions is ex­pected to in­crease.

This op­ti­mism is ap­par­ent in the con­struc­tion sec­tor too. After six years of con­trac­tion, which took the sec­tor in 2013 down to just 57 per cent of its 2007 peak, con­struc­tion out­put in NI is pre­dicted to have an an­nual av­er­age growth of three per cent over the next five years.

This will go some way to meet the short­fall in the sup­ply of new hous­ing.

Against this back­drop, Derek Wilson, Head of Mort­gages at First Trust Bank, high­lights the tal­ent and com­mit­ment of NI com­pa­nies to meet the needs of North­ern Ire­land’s hous­ing mar­ket.

“While it is clear we need con­tin­u­ous res­i­den­tial and so­cial hous­ing de­vel­op­ment, we al­ready have a qual­ity and grow­ing res­i­den­tial de­vel­op­ment mar­ket with a range of lo­cal busi­nesses ded­i­cated to sat­is­fy­ing evolv­ing de­mands in the sec­tor with in­no­va­tive ideas — whilst be­ing con­scious of the so­cial and en­vi­ron­men­tal im­pact,” ex­plains Derek.

“This is all the more ev­i­dent when we look at the high cal­i­bre of en­tries in the up­com­ing Belfast Tele­graph Prop­erty Awards 2016 which cel­e­brate ex­cel­lence within the prop­erty sec­tor and in­deed within Res­i­den­tial De­vel­op­ment — an award cat­e­gory we are proud to spon­sor.”

First Trust Bank has been ac­tive in the both so­cial hous­ing and pri­vate res­i­den­tial de­vel­op­ment mar­kets.

Its in­vest­ment sup­port has helped cre­ate ad­di­tional con­struc­tion jobs and many other posts fur­ther along the sup­ply chain help­ing grow ex­ist­ing com­mu­ni­ties and es­tab­lish new ones.

“We also of­fer a wide range of mort­gages through our branch net­work and our in­ter­me­di­ary part­ners in­clud­ing Co-own­er­ship Hous­ing, first-time buyer, mover and switcher mort­gages,” adds Derek.

In­creased mort­gage avail­abil­ity has played a ma­jor role in help­ing re­store con­sumer con­fi­dence, with the num­ber of loans across all sec­tors on the rise.

Speak­ing about this trend, Derek says, “Key to meet­ing con­sumer de­mand and sup­port the growth of the res­i­den­tial sec­tor is to en­sure the mort­gage process is open and easy to nav­i­gate and at First Trust Bank we’re happy to help.”

“Whether you are a hous­ing group, a de­vel­oper, a busi­ness or a po­ten­tial home buyer — en­gag­ing with an ex­pert early on can make a world of dif­fer­ence in the jour­ney to com­plet­ing the process of de­vel­op­ing, build­ing or buy­ing a home.”

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