Assetz Capital funds 260 new homes across Northern Ireland
Assetz Capital has assisted developers in bringing over 260 new homes to market in Northern Ireland since entering the market in January 2018.
Assetz has advanced total facilities of £53.6m in Northern Ireland, which equates to an average monthly investment of £2.55m.
House types have ranged from social and affordable homes to high-end luxury houses.
Andrew Fraser, relationship director at Assetz Capital, said: “I believe that the Northern Ireland housing market has been quietly recovering from the impact of the global financial crisis, and has returned to sustainable levels of growth in recent years.
“While buyer confidence is robust and demand for good quality housing is at sensible levels, until now the capacity of local developers to deliver homes has to some extent been frustrated by an absence of consistent finance opportunities.
“We are proud to have supported the construction of over 260 homes locally and as the demand for alternative sources of finance grows, we are looking forward to helping more housebuilders to meet demand.”
According to statistics compiled by the Northern Ireland Department for Communities, 7,100 new houses were delivered locally in 2018.
This means Assetz Capital provided funding for nearly one in 25 of all houses built in the region last year.
Ryan Andrews, director at Reeds Rains Northern Ireland, added: “This year has been a positive one for new homes sales for the Reeds Rains network in NI, the average house price of a new home we are selling this year has increased by approx.
“Supply remains the main issue ahead, we need more new homes to meet the demand we are experiencing from first time buyers and families, so the news of 260 new homes funded by Assetz Capital will be incredibly well received.”