Alongside this investment, the Property Value Limit (PVL) for Co-Ownership properties will increase to £210,000 from 1 April 2025, offering buyers access to a broader range of homes across Northern Ireland.
The increased Property Value Limit (PVL) will allow estate agents and housing providers to assist more buyers in accessing Co-Ownership schemes, particularly in areas where rising house prices have previously excluded potential applicants. Propertymark members operating in Northern Ireland should ensure they are aware of these updates and ready to guide clients through the new eligibility criteria.
A step in the right direction – but more is needed
The DfC reiterated that tackling the housing crisis remains a key priority. However, Propertymark has consistently called for bolder, long-term commitments to address housing shortages and affordability concerns.
In November 2024, Propertymark responded to the Northern Ireland Executive’s housing strategy, emphasising that while funding schemes like Co-Ownership are valuable, they must be part of a broader plan to deliver homes across all tenures. The executive must incentivise development, particularly in the private rented sector and social housing.
More ambitious plans are needed to provide essential housing
The Northern Ireland Executive’s draft Programme for Government identifies providing access to affordable, sustainable, and quality housing as an immediate priority and acknowledges the pressing need for action. Propertymark supports this aim and has made specific recommendations to accelerate progress.
Increased funding could unlock private investment
The DfC hopes that this funding package has the potential to leverage private finance, with every £1 of government borrowing expected to attract approximately £4 in mortgage lending and private investment.
The new funding also opens opportunities for collaboration with housing associations and private developers, encouraging more new-build intermediate housing to meet demand.
Propertymark Northern Ireland National Conference
Property agents in Northern Ireland can be kept up to date with the latest changes from the Department at our National Conference on 14 May 2025. David Polley, Director of Housing Supply Policy at the DfC will provide an update on the progression of Phase 1 of PRS reform, the plans for Phase 2 and some newer pieces of work within housing on building safety and climate change.
Our local conferences are free for Propertymark members as part of our #thrivein25 campaign and open to non-members because they provide invaluable networking with fellow industry professionals and the chance to stay ahead of the curve.
Northern Ireland National Conference
Join industry leaders at the Propertymark Northern Ireland National Conference on 14 May 2025. Network with fellow industry professionals, stay updated on legislation including the Private Tenancies Act (Northern Ireland) 2022, and hear up-to-date trends and insights from our sponsors Rightmove. Free for Propertymark members, this event is a valuable opportunity for you to boost skills, gain valuable CPD points and stay ahead in the market.
