10,000 Households Supported By Co-Ownership Scheme

The Co-Ownership scheme in Northern Ireland has reached the milestone of supporting 10,000 households on their home ownership journeys.

Co-Ownership is a not-for-profit organisation that helps people get onto the property ladder who cannot do it by themselves.

Welcoming the achievement, Communities Minister Deirdre Hargey, said: "This significant milestone in the provision of affordable housing here demonstrates the continued success of the Co-Ownership scheme. I am delighted that the allocation in 2020 of £158million of funding from my department, which is in place until 2024, will ensure that Co-Ownership can continue to provide an affordable route into home ownership for some of those who would otherwise be unable to purchase their own home.

"I have always been keen to highlight that housing is much more than simply a place to live. Home ownership can have significant benefits for people and families, both financially and in terms of their wider wellbeing. I do acknowledge that the continued rise in house prices, high rents in the private sector and the wider economic landscape have made it more difficult for people to get on the property ladder, particularly young people and first time buyers. Therefore I welcome that fact that Co-Ownership, as a highly valued delivery partner of over 43 years, continue to support these people by contributing significantly each year to supporting the first time buyers' market here."

Chief Executive of Co-Ownership, Mark Graham, added: "Co-Ownership is now supporting 10,000 households and having reached this significant milestone shows just how important we are to the local housing market. Since 1978 we have helped over 30,000 people. We look forward to supporting our 10,000 customers continue on their home ownership journey, and helping more people into home ownership over the coming months.

"Owning a home brings about a lot of positives to our own wellbeing and to the economy but there are many people that need support to attain a home of their own. The continued support Co-Ownership has received from the Department for Communities, particularly in recent times as we all continue to navigate the impact of the pandemic, is vital to the work that we do. This support shows us that the Minister understands that alternative routes to home ownership are not only needed but effective."