Increasing the NI Co-Ownership Housing Association (Co-Ownership) Property Value Limit (PVL) from £165,000 to £175,000 - screening

The PVL is the cap on the value of the property that can be purchased through the Co-Ownership scheme. The Department for Communities (DfC) is responsible for reviewing the PVL on an annual basis.

A lack of a PVL or too high a limit runs the risk of qualifying some people on affordability grounds that in practice may be able to access an otherwise appropriate and less expensive property without recourse to the scheme. A PVL also creates a threshold that provides reassurance that public funding is being targeted to maximum effect. Equally, a PVL which is too low risks restricting the ability of people and families to access good quality affordable housing within a reasonable distance of where they wish to live, and across all areas of the North.