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While welcoming Minister Ritchie's comments on the shortage of Social Housing The Northern Ireland Federation of Housing Associations is anxious that the Stormont Executive urgently fills the shortfall in the budget.
The Northern Ireland Federation of Housing Associations (NIFHA) fully endorses Minister Ritchie’s comments during her presentation to the Social Development Committee that there are no short term, quick fix solutions to the shortage of social housing in Northern Ireland.
However, housing associations are anxious that the Stormont Executive urgently fills the yawning gap in the budget for the present financial year and calls on them to re-examines the budget draft budget and help narrow the shortfall in housing.
NIFHA’s Chief Executive, Chris Williamson, commented:
"Housing associations have been at the forefront of providing good quality affordable housing using innovative ideas for funding. Over the last 15 years NIFHA’s members have in effect provided 5,000 social rented homes without recourse to the public purse.
"This was achieved by raising £360 million from private sources to make the taxpayers’ money go further.
"Their continued investment is very important to the economy of Northern Ireland as well as those in housing need."
A specialist finance raising deal put together by Barclays for three of NIFHA’s members, Clanmil Housing, BIH and Oaklee secured £55m which is hoped will leverage a further £135m in statutory funding giving a £190m boost to housing as a result.
It is just one example of the innovative ideas being generated in the movement to increase housing provision.
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