Residential Values and Market Analysis

While development costs are considered broadly comparable across the city, values vary significantly. High level research undertaken to inform the Council's approach to viability assessment paid particular attention to this. Data obtained from the Ulster University House Price and Rental Price Indexes, based on Super Output Area (SOA) geographies, was analysed to identify that the city can be divided up into five value bands, with a further two in the city centre, as illustrated in Figure 4.2. Based on this evidence, residential sales values for different types and sizes of accommodation (houses and flats) were identified for each value band and used in the modelling of a range of site typologies (see Section 5.2 below). It will be for the developer to demonstrate which of the value bands any individual scheme falls into, noting that variances can be seen on a street-by-street basis.