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23/10/2014
NI Housing Associations' Turnover Increases
Northern Ireland housing associations have significantly increased their turnover, according to new figures released.
PwC has compiled the sector's global accounts which was revealed today at an annual conference of the Northern Ireland Federation of Housing Associations (NIFHA).
The sector's financial position now provides a platform in working towards meeting the Programme for Government target of delivering 8,000 new social and affordable homes from 2011/15.
This year the target for new social home starts jumped from 1,275 to 2,000 – an increase of 64%.
Cameron Watt, Chief Executive of the NIFHA, said: "In the last year the housing association movement has delivered strongly for Northern Ireland, generating a rate of growth that is more than double that of our colleagues in Great Britain and achieving much more ambitious development targets.
"Housing associations are Northern Ireland's most successful profit-for-purpose organisations. Over £600m in low-cost private finance has now been raised by the sector, delivering twice as many new affordable homes than could be built with public funding alone.
"While the figures reflect the robust position and strong financial management of the sector, we are not complacent about the challenges ahead. Building on last year's successes, housing associations here are now working to deliver 64% more new homes this year."
(CD/JP)
PwC has compiled the sector's global accounts which was revealed today at an annual conference of the Northern Ireland Federation of Housing Associations (NIFHA).
The sector's financial position now provides a platform in working towards meeting the Programme for Government target of delivering 8,000 new social and affordable homes from 2011/15.
This year the target for new social home starts jumped from 1,275 to 2,000 – an increase of 64%.
Cameron Watt, Chief Executive of the NIFHA, said: "In the last year the housing association movement has delivered strongly for Northern Ireland, generating a rate of growth that is more than double that of our colleagues in Great Britain and achieving much more ambitious development targets.
"Housing associations are Northern Ireland's most successful profit-for-purpose organisations. Over £600m in low-cost private finance has now been raised by the sector, delivering twice as many new affordable homes than could be built with public funding alone.
"While the figures reflect the robust position and strong financial management of the sector, we are not complacent about the challenges ahead. Building on last year's successes, housing associations here are now working to deliver 64% more new homes this year."
(CD/JP)
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