The north’s 20 registered housing associations completed 1,403 new social homes in the last financial year.
The figure, published in the latest annual report from the Northern Ireland Federation of Housing Associations (NIFHA), show 771 new homes were also provided through co-ownership in 2023/24.
The umbrella body presented the Sector Global Accounts during its annual conference last week.
The north’s housing associations now manage almost 61,000 social homes, an increase of 2.47% from last year.
The annual report revealed that the 20 associations generated £425 million in turnover during 2023/24, with operating costs up by 5.6% over the period.
NIFHA said the increase was driven by the growth in new housing, and the ongoing impact of inflation on staffing and material costs throughout the year.
The report found 3,360 staff are employed directly by housing associations, contributing £90m to the Northern Ireland economy.
Launching the report, NIFHA chief executive, Seamus Leheny said: “This year, despite testing economic and operating conditions, we are delighted that the sector broke the 60,000 ceiling with 60,838 social homes now owned and managed by registered housing associations in Northern Ireland.”
He said while the 1,403 new social homes delivered this year has been positive, he stressed it is simply not enough.
“Provided with adequate funding via the Social Housing Development Programme, housing associations can deliver more than 2,000 new homes per annum, which will be fundamental if the Department for Communities wants to achieve its targets outlined in the imminent new housing supply strategy.”
Mr Leheny said the sector accounts highlight that the 20 housing associations had managed their financial resources extremely efficiently, in particular their debt facilities and cash reserves, demonstrating an effective housing supply model.
“The ability of housing associations to both borrow and manage their finances independently, while working in partnership with the Northern Ireland Housing Executive and the Department for Communities, is one of the fundamental reasons why the sector continues to deliver,” he added.
“The positive financial outcomes published today are testament to the professionalism of housing associations, and we are confident that with adequate funding and support from government, the sector can continue to build high quality social homes and provide essential services for people across Northern Ireland.”
