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Mortgage article 2:Minister to Address Mortgage Lenders

Wednesday 19 June 2002

The Minister for Social Development, Nigel Dodds MP MLA, is the keynote speaker at the CML Northern Ireland Annual Lunch which will be held at the Culloden Hotel, Belfast on Thursday 20 June.

Mr Dodds will be welcomed by Gary Mills, CML Northern Ireland Chairman (Alliance & Leicester), who will also address the guests. Mr Mills will refer to the need to take a longer view of the housing market in Northern Ireland, citing the fact that affordability remains better than in the UK for both existing and first time buyers, in spite of the relatively rapid price rises over the past two years.

"Research suggests that people in Northern Ireland currently pay a lower percentage of their incomes on servicing
their mortgage than twenty years ago, while those incomes themselves have increased substantially in real terms. 
No one should be complacent while some people still fail to gain access to a decent home, 
but it is worth noting that home ownership in Northern Ireland remains higher than anywhere 
else in the UK, reaching a new high point of 72.5% in 2001."
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