Increasing the Northern Ireland Co-Ownership Housing Association (Co-Ownership) Property Value Limit (PVL) from £190,000 to £195,000 - screening

A lack of a PVL, or too high a limit, runs the risk of qualifying some people on affordability grounds who could access an otherwise appropriate and less expensive property without intervention. Equally, a PVL which is too low could make it difficult for people and families to access good quality affordable housing within a reasonable distance of where they wish to live, and across all areas of NI. Furthermore, significant price increases for new build homes could reduce the supply of homes available under the PVL, affecting Co-Ownership’s ability to meet its objective of contributing to affordable housing supply. A PVL creates a threshold that provides reassurance that public funding is being targeted to maximum effect.