Commenting on the news, Ben Collins, chief executive of the Northern Ireland Federation of Housing Associations (NIFHA) said “NIFHA welcomes the publication of this consultation on the House Sales Scheme.”
“Northern Ireland is currently the only part of the United Kingdom with a mandatory House Sales Scheme,” he explained. “The Office of National Statistics has indicated that the House Sales Scheme must be removed before reclassification can proceed.”
Outlining the importance of access to private funding sources, Mr Collins added “It is vital that reclassification is reversed so that housing association can access private funding which effectively matches pound for pound the monies that are allocated through grant funding.”
“We are currently in discussions with our members about the consultation and will issue a more detailed response in due course,” Mr Collins concluded.