Lyons launches pioneering Affordable Rent programme

An initial £61.5million investment in partnership with housing provider Maple and May will deliver 300 high‑quality, long term private rented homes at an affordable cost for hard-pressed families and individuals.

The first homes will be in Dungannon, with further developments to follow this financial year in Newry, Craigavon, Lisburn and Londonderry. Other locations, including Belfast, are planned in future years.

Minister Lyons said: “As Minister with responsibility for housing, I am determined to be radical, innovative and ambitious to deliver for hard-pressed people and families.

“Affordable Rent is a landmark initiative for Northern Ireland. It has the potential to be truly transformational, not only for the housing market but for the lives of those who will benefit from these new high-quality homes at below market rents.

“It is part of a dynamic delivery programme set out in the Housing Supply Strategy to ensure that everyone has access to a good quality, affordable and sustainable home that is appropriate for their needs and is located within a thriving and inclusive community.”

The first Affordable Rent site will be at Old Eglish Road, Dungannon.  The Department’s partners, Maple and May, will offer high-quality homes with discounted rents – 20% below local market rents – to help those struggling with the cost of private rentals and others saving towards home ownership.

Eligibility will be based around household income: up to £30,000 net for a single adult household, and £40,000 net for a two-adult household.

Minister Lyons added: “Secure, affordable housing transforms lives, and is about more than the physical fabric of the home. It is about people and community. It is about a sense of belonging, and it is about providing families and individuals with a place where they can live, connect and thrive. “My ultimate ambition is to see this new affordable rent model grow and play a lasting and meaningful role in addressing housing need for years to come. I am fully focused on delivering for people and families by giving them access to more affordable rents, greater stability, and a genuine opportunity to save and plan for the future.”

The £61.5million funding provided by Department for Communities is a low interest, long term, Financial Transactions Capital loan, a novel funding mechanism that will support the new supply of affordable rented homes. Maple and May will leverage a further £10.8million in private capital finance and approximately £50million in private revenue finance, bringing total investment to over £122million.

The Minister added: “Crucially, the use of loan funding enables me to target capital funding for more social housing across Northern Ireland. Alongside continued investment in social housing, this new funding model reflects another focused and innovative approach to address housing need and support hard pressed people and families across Northern Ireland.  Over time, as we increase the number of homes for affordable rent, it will reduce pressure on the social housing waiting list.”

Deirdre Steele, Head of Maple and May, said: “This exciting initiative will enable Maple and May to support local communities through the delivery of 300 new affordable homes across Northern Ireland. As a first for Northern Ireland, this innovative project will provide greater flexibility for individuals and families looking to access the private property market.

“With features including tenancy agreements of up to five years and flexible deposit options, the initiative has been carefully designed to help people secure homes that best suit their needs.”

The first affordable rent homes are expected to be available from summer 2026, with advertising to commence shortly through the Maple and May website, Property Pal and Property News.