Call for ‘cost-of-living task force’ for Northern Ireland as even ballooning house prices begin cooling off

NILGA said that the results of a survey on fuel prices has served as a “wake up call” for many organisations, and said that any new task force should also include energy companies and charities.

The Bank of England says the current inflation rate is 9.4% – meaning a standard assortment of goods and services which the average person might need costs that much more than it did a year ago.

The target is to cap inflation at 2% – but the bank estimates that before the crisis peaks inflation will have reached perhaps as high as 13% “over the next few months”.

NILGA (which stands for the Northern Ireland Local Government Association) pointed to a recent poll carried out by survey firm LucidTalk on behalf of the charity National Energy Action, which indicated that 45% of households in the Province are now spending 10% of their income on heating.

NILGA president Martin Kearney (an SDLP councillor from Portglenone) said: “NILGA supports the call for a task force to be established ... and to leave no stone unturned in our efforts to support those in need.

“This task force should be inclusive of all public services and include energy companies as well as the community and voluntary sector.”

Meanwhile, yesterday SDLP leader Colum Eastwood repeated calls for Stormont to reconvene from its summer break to talk about the cost of living.

He said that “it is immoral that ministers at Stormont and in London have gone AWOL” at this time (Parliament in London is also on summer recess).

He said: “With no Executive in place due to the narrow agenda of one political party, emergency support to deal with this crisis has been held back leaving people to fend for themselves.

“While in Whitehall, ministers have given themselves a summer sabbatical to choose a new prime minister.

“At a time of existential crisis for many households across these islands, parliament should be recalled to address this crisis.”

Just yesterday the News Letter reported on figures compiled by Ulster University which indicated that spiralling prices are suppressing the demand for homes.

In short, the report said that the value of a terrace/townhouse has gone up by 6.9% on the same time last year, taking an average one to £139,000;

Meanwhile, semi-detached houses are up by 6.3% on the same time last year, taking an average one to £188,000;

Detached houses are up by 4.61% on the same time last year, taking an average one to £291,000;

And apartments are up by 2.8% on the same time last year, taking an average one to £148,000.

The report adds: “However, the latest evidence suggests that despite further modest growth in prices, the rate of price growth is slowing and the market appears to be approaching its apex, with signals suggesting that activity is cooling amidst the cost-of-living crisis.”

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