43,000 NIHE homes to go and rents up -where will the tenants go?

Posted: 20/2/2020

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A massive housing crisis is welling up in Northern Ireland. NIHE have said that if they don't get enough funding, 43,000 homes will have to go. Add to that, NIHE are increasing rents which could see more homeless families if tenants can't afford the rises. So where are these tenants going to live? Not in the private rented sector ! Government have been bullying landlords out of the sector for several years to make room for first time buyers. They have heaped tax rise after tax rise on landlords and this financial year, landlords now pay a disproportionate rate of tax compared to any other type of business. As the private rental supply shrinks, the laws of demand and supply take over - and we have already seen noticeable rent increases in Belfast. This perfect storm that the government has created means that many social tenants cannot now afford to live in private rented accommodation, and with most private rental properties now over-subscribed, obtaining housing for social tenants is going to be extremely difficult.  

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