This comes hot on the heels of the Minister’s announcement of an affordable housing scheme in Portadown, earlier this week. First time buyers there will benefit from a unique partnership between a developer, housing associations and lenders, whereby the purchaser will only have to pay for half of the mortgage up front.
Margaret Ritchie wants to see similar partnerships rolled out throughout Northern Ireland. It is estimated that this £4million investment could help around one hundred buyers in the North West, in the current market. Precise details of the location for the homes available for purchase will be announced at a later date.
The Minister welcomed the news at a special one day housing conference in Derry, where delegates heard how she plans to invest over £21million this year to improve the housing conditions for thousands of people living across the city.
Included within this investment are plans to complete the delivery of 145 new social homes this year, whilst work on a further 138 new homes will begin.
Margaret Ritchie said: “House prices in Derry have risen by one hundred and fifty per cent during the last five years and despite recent reductions, many first time buyers remain unable to make that first step on to the housing ladder.
“I launched a new affordable housing partnership earlier this week in Portadown and am delighted that, coming on the heels of this, the Board of North and West Housing Association has made up to £4million available for similar affordable housing schemes that are so badly needed here in Derry”
In outlining her commitment to social housing in Derry the Minister said: “I can assure the people of Derry that I am firmly committed to increasing social housing and improving living conditions in Derry. That is why I am investing £21million this year. What is more, I will be back next week to unveil two new housing schemes worth over £12.5million that will provide over 100 much needed new social homes for the people of the Creggan and the Bogside.
Notes to Editors:
- The conference will take place in the City Hotel in Derry. There will be a media opportunity for interviews and photographs on the Minister’s arrival at 11.00am, coinciding with the start of the conference.
- SDLP leader Mark Durkan, other local MLAs, the Mayor of Derry City Council and senior members of the North and West Housing Association will also attend the day long conference.
- For further information, please contact Philip Maguire, Principal Information Officer, DSD on 028 9082 9496 or mobile 07788 108657
