Propertymark says NI housing supply strategy lacks ‘ambition’

Propertymark has welcomed the Department for Communities’ housing supply strategy for Northern Ireland but has criticised its lack of ambition.

The strategy for 2024-2039 was approved by the Northern Ireland Executive on 5 December and outlines a 15-year framework to boost new home construction.

The strategy aims to deliver 100,000 new homes by 2039, focusing on creating desirable communities to meet increasing demand.

Propertymark says it supports this goal and the plan to collect better Census data to assess housing demand.

Reduce private rented sector costs

The Executive also aims to reduce private rented sector costs by increasing supply – something Propertymark pushed for when the devolved government returned in February.

However, the professional body is concerned that the 100,000-home target, equating to 6,667 new homes per year, lacks ambition.

This target, like the 2022 strategy, falls short of addressing the significant housing demand.

Concerns Propertymark has raised

Propertymark’s policy and campaigns officer, Henry Griffith, said: “Overall, the Department for Communities’ housing supply strategy is a positive step forward that addresses many of the concerns Propertymark has raised.

“Such as using data to better understand the level of demand for new homes in Northern Ireland and is seen to be responsive to the need for additional housing in the country.”

He added: “Propertymark looks forward to continuing our engagement with the Department for Communities to ensure members are aware of the new provisions in this strategy.”

Reforms benefit the PRS

The professional body says it will continue working with the Department for Communities to ensure that the reforms benefit the private rented sector.

It says that Propertymark members need to be informed about the upcoming increase in notice periods for private tenancies.

Also, there was an announcement to ‘initiate the second phase of efforts aimed at implementing enhancements in the private rented sector’, which Propertymark hopes will include the regulation of letting agents.

This move chimes with the body’s support for a Chartered Institute of Housing Northern Ireland report which emphasised that being a member of a government recognised organisation would boost Northern Ireland’s property sector.