3,353 new social and affordable homes delivered with HFA financing in 2022
The Housing Finance Agency (HFA) reported another record year in 2022, providing loan finance of €1.2 billion to Local Authorities, Approved Housing Bodies and Higher Education Institutions to support housing delivery.
The HFA’s 2022 Annual Report, published today, shows lending to Approved Housing Bodies totalled €853 million in 2022, up from €709 million in 2021.
HFA financing supported the delivery of 2,889 social homes and 464 Cost Rental homes over the year.
HFA highlights from 2022 include:
- An increase in the value of the HFA loan book to €6.7 billion;
- Financing provided for the first purpose-built Cost Rental development in Dublin’s Stepaside, delivered by our customers Respond Housing and Tuath Housing;
- HFA approval of loan financing to support the delivery by the University of Galway of student accommodation with 674 bedspaces;
- Advances of more than €303 million to Local Authorities in 2022, including financing provided to Limerick City and County Council for the provision of housing in the city’s Opera Quarter;
- Funding provided to Mayo County Council for a pilot project which is exploring a new approach to property vacancy and dereliction.
Welcoming the publication of the HFA’s Annual Report, Minister for Housing, Local Government and Heritage, Darragh O’Brien, said:
“The HFA has an essential role in facilitating the successful delivery of social and affordable housing by providing long-term competitive finance to the sector.
Their annual report shows they helped to achieve a substantial increase in social housing delivery last year and has also ensured that the pipeline of social and affordable homes is strong for this year and beyond.
The HFA with its long experience in the sector, is well placed to continue to play a lead role in ramping up the volume of social and affordable homes for purchase or rent, which is a vital component of Housing for All.”
Barry O’Leary, Chief Executive Officer at the HFA, said there was a clear determination across the housing sector to deliver high quality social and affordable homes in 2022.
“Housing For All’s ambitious targets require an all-hands-on-deck approach and the HFA is delighted to report another record year, with €1.2 billion advanced to our customers to facilitate housing delivery,” he said.
“I want to congratulate our customers on the progress they made in 2022, notwithstanding the knock-on impacts of the war in Ukraine, global increase in construction costs and the effects of the Covid-19 pandemic.”
HFA Chairperson Frank Allen acknowledged that there remain challenges in housing delivery and the agency is examining how it can increase its contribution in a number of areas, such as supported housing.
“Housing for All commits to increasing the supply of homes for those with specific needs, including older people, people with a disability and others who require a combination of housing, health and community support,” he said.
p>“The HFA is eager to provide appropriate financing for diverse housing needs and we are engaging with specialist housing providers to see how we can be of greater assistance to them.”ENDS
For further information contact press@hfa.ie
Notes to Editors:
The Housing Finance Agency is a State-owned body that provides financing to Local Authorities, Approved Housing Bodies and Higher Education Institutions for housing-related purposes.
Please note that loan advance figures include stage payments for homes and housing schemes that are still in development, i.e. dividing home completion numbers into loan advance figures will not provide an accurate per unit cost.
