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Affordable Rentals Launch in Weeks
23 Jun
Summary
- New affordable rental homes to be available within weeks.
- Rents will be 20% below market for low-income earners.
- First of 300 homes in Dungannon, more to follow.
New affordable rental homes, operating under an "intermediate rent" scheme, are expected to be available to residents within weeks. This initiative aims to assist individuals and families who earn too much for social housing but find market-rate rents prohibitive. The program will offer rents at a 20% discount compared to typical market prices.
The first of 300 planned homes are situated in Dungannon. Additional developments are scheduled to be rolled out across Newry, Craigavon, Lisburn, and Londonderry during the current financial year. Communities Minister Gordon Lyons has described the scheme as potentially "transformational" in addressing the ongoing housing crisis in Northern Ireland, where over 50,000 households are currently on the social housing waiting list.
