Communities Minister Gordon Lyons has launched Northern Ireland's first-ever Affordable Rent programme, aimed at supporting lower-income households.

An initial £61.5 million investment, delivered in partnership with housing provider Maple and May, will provide 300 high-quality, long-term private rented homes at an affordable rate for working families and individuals. The first properties will be located in Dungannon, with subsequent developments scheduled to follow this financial year in Newry, Craigavon, Lisburn, and Londonderry. Future phases plan to target additional locations, including Belfast.

Minister Lyons said: "As Minister with responsibility for housing, I am determined to be radical, innovative and ambitious to deliver for hard-pressed people and families.

"Affordable Rent is a landmark initiative for Northern Ireland. It has the potential to be truly transformational, not only for the housing market but for the lives of those who will benefit from these new high-quality homes at below market rents.

"It is part of a dynamic delivery programme set out in the Housing Supply Strategy to ensure that everyone has access to a good quality, affordable and sustainable home that is appropriate for their needs and is located within a thriving and inclusive community."

The debut Affordable Rent site will be situated at Old Eglish Road, Dungannon. The Department's partner, Maple and May, will offer high-quality properties at discounted rates set 20% below local market rents. This initiative is designed to aid individuals struggling with private rental costs and those saving to purchase their own home.

Eligibility for the scheme is based on household income thresholds, capped at a net income of £30,000 for single-adult households and £40,000 net for two-adult households. Minister Lyons added: "Secure, affordable housing transforms lives, and is about more than the physical fabric of the home. It is about people and community. It is about a sense of belonging, and it is about providing families and individuals with a place where they can live, connect and thrive.

"My ultimate ambition is to see this new affordable rent model grow and play a lasting and meaningful role in addressing housing need for years to come. I am fully focused on delivering for people and families by giving them access to more affordable rents, greater stability, and a genuine opportunity to save and plan for the future."

The £61.5 million funding allocated by the Department for Communities is provided as a low-interest, long-term Financial Transactions Capital loan, establishing a novel funding mechanism to back the supply of affordable rental properties. Maple and May will secure an additional £10.8 million in private capital finance alongside approximately £50 million in private revenue finance, pushing the total project investment past £122 million.

The Minister added: "Crucially, the use of loan funding enables me to target capital funding for more social housing across Northern Ireland. Alongside continued investment in social housing, this new funding model reflects another focused and innovative approach to address housing need and support hard pressed people and families across Northern Ireland. Over time, as we increase the number of homes for affordable rent, it will reduce pressure on the social housing waiting list."

Deirdre Steele, Head of Maple and May, said: "This exciting initiative will enable Maple and May to support local communities through the delivery of 300 new affordable homes across Northern Ireland. As a first for Northern Ireland, this innovative project will provide greater flexibility for individuals and families looking to access the private property market.

"With features including tenancy agreements of up to five years and flexible deposit options, the initiative has been carefully designed to help people secure homes that best suit their needs."

The initial phase of affordable rent homes is projected to become available starting in summer 2026, with advertising scheduled to begin shortly via the Maple and May website, Property Pal, and Property News.