4 days ago
- Business
- Belfast Telegraph
Why Progressive is backing new housing in Northern Ireland
Residential Development of the Year
Progressive Building Society is throwing its support behind Northern Ireland's booming housing sector by sponsoring the Residential Development of the Year category at the 2025 Belfast Telegraph Property Awards.
As Northern Ireland's largest locally-owned building society, Progressive believes the need for new homes is more urgent than ever.
Chief executive Michael Boyd said: 'Demand is still outpacing supply and that puts real pressure on people trying to buy a home.'
That supply-and-demand imbalance is reflected in the latest Quarterly House Price Index, compiled by Ulster University in partnership with Progressive and the Northern Ireland Executive.
In quarter two of 2025, house prices rose 1.4% compared to the previous quarter.
Prices are now 2.7% higher than they were compared to the same period last year — driven by improved lending conditions and a lift in buyer activity.
Despite the challenges, Michael says Progressive remains focused on helping people across the region get on the property ladder, just as it has done for over 100 years.
'Helping local people own homes is central to who we are,' he said.
'With 11 branches and 180 staff, we're part of the communities we serve.'
He added: 'Our strength lies in our understanding of the local market. We connect savers and borrowers within Northern Ireland, helping to fund homes for people who live and work here.'
Progressive offers a wide range of mortgage options, from first-time buyers and home movers to re-mortgaging and self-builds.
It also provides renovation re-mortgages and specialist products like their affordability booster mortgage, which will take your family members' income into account when working out how much you will be able to borrow.
Looking ahead, the society is focused on building closer ties with new and existing mortgage brokers to expand its reach and deliver even better service to members.
Michael said the Property Awards are a chance to shine a light on those helping to shape the future of housing across Northern Ireland.
'This is the property industry's biggest event of the year,' he said.
'We're delighted to be part of it - and to be sponsoring a category that celebrates the work of those meeting one of our region's most critical needs.'
With new homes still in short supply and demand showing no signs of slowing, the spotlight on homebuilding has never been more important.
Progressive's sponsorship reflects not just its long-standing role in Northern Ireland's housing market; it cements its ongoing commitment to helping more people find a special place to call home.
