Mr Durkan met with NI Co-ownership Housing Association last month to discuss their work and intends to hold an event in the North West in the near future.
The Foyle MLA said: “While I appreciate that co-ownership may not be suitable for all, the Department for Communities £145 million investment is welcome and will provide an opportunity for people to get on the property ladder.
“The Co-ownership route can help first-time buyers and others returning to the housing market, to purchase a home up to the value of £165,000.
“It is an accessible avenue for people who would otherwise struggle to secure a mortgage on their own, something of particular importance even more so in the current climate, as banks require even larger deposits as a consequence of the pandemic.
“This cash injection will support 4,000 households over the next four years to buy their own homes.
“In order to tackle growing housing need and the exponential growth in the private rental sector here, we must focus on alternative channels and any opportunity that will support people to become homeowners.
“Co-ownership is not a panacea but it will play a part in addressing the challenges within our housing system and is will be one step closer to affordable housing.”
Tags: