In the three months before Christmas, Tuath Housing has spent €70 million acquiring 348 homes across Ireland.
The homes acquired were in counties Dublin, Cork, Donegal, Meath and Cavan.
Some €55 million of funding was provided by the Housing Finance Agency, with the rest from AIB and long-term, low-interest loans from the Department of Housing.
The last deal of the year was concluded with the Housing Agency on December 19, for a bundle of 29 individual properties in 13 council areas at a cost of €5.7 million, utilising a €20 million AIB loan facility.
Tuath Housing’s total spend on property in 2018 was over €150 million, helping to deliver over 800 new social homes via partnerships with 25 Local Authorities.
Affordable rent
Dozens of families have moved into their new high-quality, ultra-affordable homes just in time for Christmas at an average rent of €57/week, with the final property lettings happening right up until Christmas.
Sean O’Connor, Tuath Housing’s chief executive, commented: “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.
Concluding, O’Connor noted: “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, affordability cycle of rapidly rising house prices and spiraling market rents.”