348 Social Homes Provided Before Christmas by Túath Housing Association - Construction Network Ireland - Construction Network Ireland

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Published in Residential Property on 21/12/2018

348 Social Homes Provided Before Christmas by Túath Housing Association

CNI Editor reports

In the three months to Christmas, Túath Housing has spent €70m acquiring 348 homes across Ireland, including in counties Dublin, Cork, Donegal, Meath and Cavan.

Some €55m of funding was provided by the Housing Finance Agency, with the rest from AIB on long-terlow-interestst loans from the Department of Housing. The last deal of the year was concluded with the Housing Agency on December 19th, for a bundle of 29 individual properties in 13 Council areas at a cost of €5.7m, utilising a €20m AIB loan facility.

Túath Housing’s total spend on property in 2018 was over €150m, helping to deliver 800 plus new social homes via partnerships with twenty five Local Authorities. The new homes brings the total number of social homes managed by Túath nationwide to just under 4,500 properties.

Dozens of families have moved into their new high quality, ultra-affordable homes just in time for Christmas at an average rent of €57 per week with the final property lettings happening right up until Christmas.

Túath Housing Chief Executive, Sean O’Connor said “It is truly rewarding to be able to help so many families at this time of year, where the home and family is a big part of celebrating Christmas.  We are very proud to have worked with so many local authorities to provide these much-needed social homes across the country. We strongly believe that the provision of more social homes and the future provision of new affordable homes to rent is essential to break the vicious unaffordability cycle of rapidly rising house prices and spiralling market rents.”