Assetz Capital funds 260 new homes across Northern Ireland
Since entering the Northern Ireland residential development market in January 2018, marketplace lender Assetz Capital has assisted developers in bringing over 260 brand new homes to the local market.
Assetz Capital’s investments have directly contributed to the NI economy, while also complementing the choice of funding available to local house builders.
House types have ranged from social and affordable homes, to high-end luxury houses situated right across the province. The firm offers tailored funding solutions to meet demand from those undertaking multi-density development projects, to smaller one-off opportunities.
Since January 2018 Assetz Capital have advanced total facilities of £53.6m in Northern Ireland alone, which equates to an average of monthly investment of £2.55m. According to statistics compiled by the Northern Ireland Department for Communities, 7,100 new houses were delivered locally during 2018 period, meaning that Assetz Capital provided funding for nearly 1 in 25 of all houses built during the period in the region. Assetz Capital are committed to building on its performance so far supporting mid-tier house builders and the construction sector.
Andrew Fraser, relationship director for 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.”
Ryan Andrews, director at Reeds Rains Northern Ireland, said: “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. £10,000 compared to 2018, whilst agreed sales numbers have remained consistent to the previous 2/3 years which is a good sign. 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.”
