Landmark affordable rent programme launched in Northern Ireland

The Northern Ireland Executive has announced its first-ever affordable rent programme for lower-income households.

Under the scheme, homes will be offered at rents set 20% below local market rates, helping people struggling with the cost of private renting and those saving towards home ownership.

Eligibility will be based on household income, with a net income threshold of up to £30,000 for single-adult households and up to £40,000 for two-adult households.

Landmark initiative for Northern Ireland

Communities Minister Gordon Lyons said: “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.

“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.”

More sites in the future

The first affordable rent development will be located at Old Eglish Road in Dungannon. An initial £61.5 million investment, delivered in partnership with housing provider Maple & May, aims to provide 300 long-term private rented homes.

Further developments are planned this financial year in Newry, Craigavon, Lisburn and Londonderry, with additional sites, including Belfast, planned for future years.

The news comes as the Department for Communities in Northern Ireland has proposed introducing some of the longest Notice to Quit periods in the UK, increasing standard notice periods for tenants to up to six months.