Northern Ireland Executive to fund intermediate rental housing for the first time

Northern Ireland’s housing minister Gordon Lyons has announced plans for a government-funded intermediate rental housing scheme.

The new Intermediate Rent (IMR) scheme is expected to deliver 300 homes with government funding.

Maple & May, a subsidiary of housing association Choices Housing, will deliver the homes, which will be rented out at 80% of market rent.

Introduced in March 2023, the IMR scheme aims to create affordable private rented homes across Northern Ireland set at least 20% below market rate for lower income households that are not eligible for social housing but cannot afford to rent at open market prices. It will also help those saving towards homeownership.

Lyons said: “I am determined to increase the supply of good quality, affordable housing, and to expand the affordable housing options available to people and families. This commitment is outlined not only in the Housing Supply Strategy, but also in the Programme for Government

“Many hard-working people and families are struggling to access a home suited to their needs, made worse by increasing rents and insecurity in the private rented sector, while demand continues to exceed supply for social homes. Providing affordable homes for rent is an important step in addressing that need.

>>See also: NIFHA and CIH welcome Stormont’s ‘clear target’ of 5,850 social homes

“When I launched the Executive’s Housing Supply Strategy a few weeks ago, I said we had to be innovative and radical when it comes to tackling our housing issues. There is a collective effort across government, the housing sector and private sector to deal positively with the challenges we face.”

Maple & May is the country’s first Intermediate Rent Operator (IRO) and it said it will build IMR homes within mixed tenure developments, alongside social and private homes, and as standalone IMR sites.

The government is yet to confirm the amount of funding it will contribute to the scheme, but said it will fund 300 homes. Construction of the first properties will start within the next year, with the first tenancies expected to start from late 2026. 

Responding to the initiative, Justin Cartwright, national director for CIH Northern Ireland said: “This scheme, which reflects policies we have been involved in developing, will provide much-needed support to those on lower to moderate incomes. The focus on providing high-quality homes at below-market rents, with enhanced security of tenure, is a significant step forward. We commend the collaborative effort that has brought this initiative to this stage, and we look forward to seeing the positive impact it will have on communities across the region.”