Figures show rise in average earnings in Northern Ireland

People going to work
People going to work

People in Northern Ireland are more prosperous overall than a year ago, analysts said.

Average annual pay, the proportion of households donating to charity, business rates and exam scores were used to form the Barclays Prosperity Map.

Despite uncertain economic conditions due to volatile stock markets, China’s slowdown and the lead up to Brexit, Northern Ireland saw average earnings increase by almost a 10th.

GDP per person grew faster than in London. Unemployment reduced and exam results were the best across the UK, the report’s authors said.

The number of millionaires stands at 13,000 - 2% of the UK total.

The growth in Northern Ireland’s housing market has exceeded that experienced in Wales and Scotland, as well as northern regions of England.

The average house price in Northern Ireland is £119,500, a rise of 4% on the previous year’s figure of £114,465.

Jonathan Dobbin, head of wealth and investment management Northern Ireland at Barclays, said: “It is very encouraging to see that prosperity in Northern Ireland is on an upwards trajectory.

“In 2015, we had the highest levels of educational attainment right across the UK regions; an increase in GDP and average earnings, and a reduction in unemployment.

“It’s clear that we have the skill set to compete with other regions when it comes to providing the right conditions to start and grow a successful business and drive prosperity more widely.

“With positive growth in prosperity recorded across the UK, it is clear that Northern Ireland is playing a key role in this trend.

“It is more important than ever that business leaders and policy makers continue to create new opportunities to keep our region, and the UK as a whole, ‘open for business’ and continuing on this trajectory.”