Northern Ireland’s largest locally-owned building society is sponsoring the Residential Development of the Year category at the 2024 Belfast Telegraph Property Awards.
Progressive chief executive Michael Boyd said he was proud to be supporting the new homes being built across the region, given the still-tight supply and demand picture.
“We know that demand continues to outstrip supply when it comes to residential properties and that makes us extremely keen to support house builders who are trying to ease the strain caused by the housing shortage,” he said.
The Quarterly House Price Index, which analyses the performance of the Northern Ireland housing market, is produced by Ulster University with Progressive Building Society and the Northern Ireland Executive.
House prices in Northern Ireland climbed by almost 5% in the second quarter of 2024 after a slight dip at the beginning of the year.
Progressive
The hike is linked to the lack of new stock coming on to the market, with agents noting a marked lack of quality of housing stock and a slowdown in newbuilds.
Michael said that Progressive, which has 11 branches across the region, is determined to continue its provision of mortgages to Northern Ireland people, just as it has done for over 100 years.
“One of the society’s main purposes is to encourage local people to become homeowners” he said.
“We are embedded in local communities and employ 180 staff from local areas.
“Our wealth of knowledge and experience in the local housing market is unparalleled and rooted in being an integral part of the economy, enabling local saving members to fund home ownership for local people.”
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Progressive offers a range of products, including options for first time buyers, home movers and re-mortgages.
Also available are self-build mortgages, renovation re-mortgages and products such as joint mortgage sole proprietor (JMSP).
Progressive’s goal is to deliver exemplary service to its members and Progressive’s future plans include establishing even closer working relationships with new and existing mortgage brokers.
Michael added: “This is the biggest event of its kind in the property industry and we’re delighted, not only to be part of it, but to be sponsoring one of the most important categories at a time when residential housing is huge demand.”
To enter, visit belfasttelegraph.co.uk/propertyawards