Co-Ownership property value limit raised in boost for NI home buyers

Communities Minister Gordon Lyons is pictured with Mark Graham, Chief Executive of Co-Ownership.

More people and families across Northern Ireland could soon find it easier to step onto the property ladder after Communities Minister Gordon Lyons announced an increase in the Co-Ownership property value limit.

From 14 April 2026, the maximum value of a property that can be purchased through the Co-Ownership scheme will rise from £210,000 to £215,000, a move aimed at widening access to home ownership in a fast-moving market.

The increase is designed to give buyers greater choice across Northern Ireland’s housing market, particularly first-time buyers and those currently renting privately.

With the latest figures showing the average house price in Northern Ireland reached £195,936 in the final quarter of 2025 — up 7.5 per cent year-on-year — the change comes as house prices continue to climb.

Wider access to home ownership

Announcing the change, Mr Lyons said the scheme remains central to helping people secure a home of their own.

“I am committed to providing support where it is needed and helping as many people and families as possible get onto the property ladder.

“Co-Ownership is a key part of this commitment and an increase in the property value limit will help ensure more people can access homes to suit their needs.”

The minister also confirmed that the Department for Communities will now carry out a review into how the property value limit is calculated in future.

The review is intended to ensure the cap continues to reflect real market conditions and remains fit for purpose as property prices evolve.

Mr Lyons added:

“It is important that the property value limit reflects the realities of a fast-moving housing market and that is why I have asked my officials to review the current approach to calculating the property value limit.

“This is about taking stock, looking to the future, enhancing what has gone before, and ensuring that Co-Ownership continue to support as many people as possible into home ownership.”

Strong demand from first-time buyers

The announcement is likely to be welcomed by many would-be buyers, particularly younger households and renters facing rising costs.

According to Co-Ownership’s latest social impact figures, 91 per cent of purchases in 2024/25 were made by first-time buyers, underlining the scheme’s role in helping people buy their first home.

Meanwhile, 47 per cent of customers during the first three quarters of 2025/26 came from the private rented sector, highlighting the pressure many renters face in trying to transition into ownership.

Since launching in 1978, Co-Ownership Housing Association has helped more than 34,000 people into home ownership.

Chief Executive Mark Graham described the latest increase as an important step forward.

“Co-Ownership welcomes the Minister’s continued commitment to shared ownership as a core element of the Housing Supply Strategy. Today’s announcement represents an encouraging step forward, helping more people across Northern Ireland access an affordable home through Co-Ownership.

“We look forward to working closely with officials as they review how the property value limit is calculated. Ensuring the limit accurately reflects real market conditions is essential to support our customers to find high-quality, affordable homes that meet their needs.

“Since 1978, Co-Ownership has proudly supported more than 34,000 people on their journey into homeownership. Today’s announcement further strengthens that mission, and we remain committed to work with the Department to build on this progress.”

Part of wider housing investment

The announcement builds on a major funding commitment made last year.

In March 2025, the minister confirmed £153 million in Financial Transactions Capital funding for Co-Ownership, with the aim of delivering 4,000 affordable shared ownership homes by 2029.

That formed part of a wider £696 million package, including government funding, private finance and mortgage lender support.

For many across Ballymena and the wider Northern Ireland area, the latest increase may offer renewed hope at a time when rising house prices have placed home ownership beyond the reach of many.

Further information is available from Co-Ownership Housing Association.

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At a glance

• Co-Ownership property value limit rises from £210,000 to £215,000

• Change takes effect from 14 April 2026

• Aims to help more people and families buy homes in Northern Ireland

• Department will review how the limit is calculated

• Average NI house price now stands at £195,936

• 91% of recent purchases were by first-time buyers

• 47% of customers came from the private rented sector

• More than 34,000 people have used the scheme since 1978

• Backed by £153 million government funding commitment

• Target of 4,000 affordable shared ownership homes by 2029