DSD Affordable Housing

foundered

Hiya all,

There has been quite a bit on the news about the building of affordable housing for first time buyers in Northern Ireland (and the Minister Margaret Ritchie has said plenty about it), however I can't seem to find any of them!

The DSD website has plenty of info regarding the Affordability Review, but nothing on who to contact if you're interested in this type of property. I've also emailed Advice NI but with no result.

So, moneysavers, can you point me in the right direction? Is there even anywhere I can go to register my interest?

Thanks!

Sofia_4

They did allocate £50million, but that was to cover a range of housing solutions, not just new housing. The money was welcomed but they still say it's not enough to relieve the housing problems in N Ireland:

http://www.nifha.org/press-room/index.php/57/

Have you tried the Co-ownership Housing Association, the Housing Executive, or any of the other Housing Associations (e.g. BIH, Oaklee etc)?

Mind you, with the house prices going the way they are, you might get one at a nicer price than they have been recently!

ballyblack

according to BBC news this morning, there will be an important announcement later today Tuesday 26th

leftieM

There is an announcement here. Now too much info yet.

ballyblack

http://www.belfasttelegraph.co.uk/news/local-national/article3466192.ece

foundered

Thanks for your replies - I find it a little ironic I asked the question the day before an announcement was made by the DSD...

I've had a look at the Co-ownership scheme (and discussed it with friends) and I don't think it represents good value for money - anyone have an opinion about this scheme or know anyone who's part of it?

As for the different housing associations, I've had no luck in finding affordable property (i.e. property for sale, not for rent) - for example, the BIH website states a purchase scheme is currently at the consultation stage, and they're also awaiting finalisation of a House Sales Scheme by the DSD. Also, I get the gist that this scheme is only for current BIH tennants who wish to buy the property they're renting.

Today's announcements, welcome as they are, still don't offer anything concrete (no pun intended!). Websites promoting developments like the Titanic Quarter and Annadale Embankment allow you to register interest, but with prices starting at £160-£190K they're hardly affordable, even for those on the average UK wage. (However, will the DSD be able to retrospecively impose the 20% affordable home quota announced today on these developments? I doubt it, but I digress!).

I'll have a look at the Housing Executive website, and try and get in touch with my MLA, and let you know of any positive results!

Sofia_4

I think any of the house sales schemes are for tenants of housing associations or the housing executive, so won't be of any use to you unless you are a tenant.

Compared to other prices, 160-190k sounds quite cheap! I bought mine last year through Co-ownership - over 200k for a small townhouse. The process was ok, and it really was the only way we could have ever afforded to buy anything.
Whether it becomes more difficult when we go to buy a bigger share I can't say but at least we own half of it, and can 'step up' when we can afford it. Suffice to say we went for it because we want our own home, and not for the investment potential, though if we ultimately make money it would be a bonus.

I did ask other people about their experiences with it, and got mixed reviews. I suppose it depends on the importance you put on owning a property. For example, you might get a rented house, fully furnished for the same amount per month - you may not own it, but nor will you have to pay interest on a huge mortgage, or repairs to the house!

Good luck with your search!

foundered

Looks like the co-ownership scheme is no longer an option!

http://news.bbc.co.uk/1/hi/northern_ireland/7302756.stm

I have an interview with the Housing Executive on Thursday, but still no response from the MLAs I contacted - I'll try again shortly... maybe today's announcement will prompt them to reply!

cheqmate06

I understand that from next year(2009) all domestice properties that are not occupied will have to pay vacant rates. nothing has been decided as to how much to pay but it may drive prices down slightly as l'lords,multiple owners may want to cash in and get rid of properties if they aren't making them money.

Greentea

cheqmate06 wrote: »

I understand that from next year(2009) all domestice properties that are not occupied will have to pay vacant rates. nothing has been decided as to how much to pay but it may drive prices down slightly as l'lords,multiple owners may want to cash in and get rid of properties if they aren't making them money.

just another way for the government to take more money for doing nothing. If a property is unoccupied what exactly will the vacant rating being paying for?