Housing Executive needs to be able to borrow against assets to fund plans for 100,000 homes, says Minister

During a deputation to Causeway Coast and Glens Council, which took place at this month’s full council meeting, DUP Alderman John McAuley highlighted a recent report on the Strategy, which outlined its plans to build 100,000 homes in Northern Ireland by 2039, and asked how it would be funded.

Minister Gordon Lyons said the condition and quantity of NIHE homes were a “huge concern and investment challenge” to him and his department.

“The only way that I see that happening is through the revitalisation of [NIHE],” he said. “So we need to see confirmation from the UK Government that they’re prepared to treat [NIHE] the same as they treat other housing associations across the UK; we need [NIHE] to be in a position where it can borrow against its assets.

“If it can, it means that we can continue to invest not only in the stock that we have but also build more social homes in all parts of Northern Ireland. That is something that I’ve been pushing, and for the first time I’ve got cross -party support in the Executive to progress this issue.

“We have raised it at the highest levels of Government and in the Treasury, and I think good progress is being made, but that’s the only way that we will actually deal with the problems.

“I’m sure you will all be getting representations from constituents about the availability of social homes and the current condition of some of those homes.

“It’s deteriorating at such a rate that it makes economic sense for us to borrow, where interest rates are at at the minute, so I can assure you this is one of the highest priorities.

“It’s absolutely essential that we get this completed and that will come from that revitalisation of [NIHE], so I would certainly welcome any support that the council can give in that in terms of making the case to those in the UK Government.”