£197million invested in new build social and affordable homes
Social Development Minister Nelson McCausland has released the 2012/13 out turn figures for new build social and affordable homes.
~ Thursday, 2 May 2013
A total of 2,336 new starts were delivered in 2012/13, keeping the Programme for Government target firmly on track and realising an overall investment of £197million across Northern Ireland.
Minister McCausland said: “The Northern Ireland Executive has a target to deliver 8,000 new social and affordable homes by 2015. Now halfway through this period, a total of 4,389 new homes have been built.
“I am pleased that we have managed to do what we set out to do and more. I want to take this opportunity to commend the housing association movement for levering in some £74million in private finance to help us achieve this target.
“This year has seen a rise of almost 50% in the take up of co-ownership housing, with 957 applicants becoming new home owners. Whilst the housing market continues to work in a difficult environment, it is encouraging that Government and the private sector working together can still provide an opportunity for people to access home ownership.
“These newly built homes continue to help the beleaguered building industry. Estimates say that every one million pounds invested in housing supports 12 jobs - seven directly and five indirectly. Based on the £197million invested, that equates to around 2,400 jobs created or sustained.”
Cameron Watt, Chief Executive of the Northern Ireland Federation of Housing Associations also welcomed the good news. He said: “Government and housing associations working together to provide new homes is the UK’s most successful public-private partnership. These figures are further demonstration that in these tough times, housing associations are delivering for Northern Ireland. We congratulate our members, the Department for Social Development and the Housing Executive for this collective success.”
Dr John McPeake, Housing Executive Chief Executive commented: “The number of new homes started this year is very encouraging. The current economic circumstances mean increasing numbers of people are applying for social housing. Built to high standards, these new homes will provide much needed accommodation for many households.”
Note to editors:
- The Programme for Government sets a target of 8,000 new social and affordable homes to be delivered during the four year period 2011/12 to 2014/15. During 2011/12, 1,410 social and 643 affordable homes were delivered.
- In 2012/13, funding of £159 million delivered 1,379 social homes. This was made up of £85.1million of Housing Association Grant for social housing and £73.9million of private finance from housing associations.
- In 2012/13, funding of £38.0 million delivered 957 affordable homes through the Co-Ownership Housing Association.
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