02/05/2013

Building Of New Homes On Target

£197 million has been invested invested in new build social and affordable homes in 2012/13.

Social Development Minister Nelson McCausland has released the 2012/13 out turn figures for new build social and affordable homes.

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."

(CD)

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