Co-Ownership New-Build Limit Rises to £230,000 From Mid-September

First-time buyers in Belfast and across Northern Ireland get more room on new builds from mid-September. The Department for Communities has approved a £230,000 Property Value Limit for new homes bought through Co-Ownership — on top of the £215,000 ceiling already in place for existing properties.

The new-build limit takes effect on Monday 15 September 2026. Affordability is still assessed at application stage, so the higher ceiling is not an automatic green light for every buyer — but it does open a wider slice of the new-build market to people who need shared ownership to get on the ladder.

What changed

Co-Ownership is Northern Ireland’s only shared ownership provider and the Department’s delivery partner for 4,000 affordable homes by 2029. In 2024/25 it helped 961 households into home ownership — a £161 million boost to the local property market, according to the organisation.

New builds often cost more than similar older homes. DfC’s dual limits recognise that: £230,000 for new builds from 15 September, alongside £215,000 for existing homes.

How Co-Ownership works

Eligible buyers pick a property anywhere in Northern Ireland up to the relevant Property Value Limit. They buy a share of between 50 and 90 per cent with a mortgage lender; Co-Ownership keeps the rest. The buyer pays a reduced rent on Co-Ownership’s share. That mix usually means a smaller deposit and lower combined monthly costs than buying outright — the point for people who otherwise could not buy.

Co-Ownership says it supports around nine per cent of first-time buyer transactions in Northern Ireland each year, and that 90 per cent of its co-owners later buy out its share. More than 35,000 people have used the model since 1978. Earlier LoveBelfast coverage of the scheme includes the previous Property Value Limit rise to £175,000 and a later Shared Ownership Week push when the limit sat at £190,000.

What Mark Graham said

“We welcome the decision by the Department to establish this new Property Value Limit of £230,000 for new build homes. As property prices continue to rise, this will give our customers access to more homes across Northern Ireland, helping them to achieve home ownership,” said Mark Graham, Chief Executive of Co-Ownership.

“We support approximately nine per cent of all first-time buyer transactions in Northern Ireland each year. Importantly, 90 per cent of our co-owners go on to buy out our share of their home, proving the model’s effectiveness as a vehicle for affordable home ownership in Northern Ireland.”

“By increasing choice for people, we will continue to contribute to the delivery of the region’s housing objectives. Since 1978, we have proudly supported more than 35,000 people on their journey and almost 50 years on we remain committed to working with the Department to build on this progress.”

Local Development Plans

Council Local Development Plans are also feeding new supply. Developments over a set size must include affordable housing — often a mix of private sale, social housing and Co-Ownership. Graham said that route gave more than 100 eligible Co-Ownership customers a new-build option in the last year, with more Plans expected to add momentum.

“Local Development Plans have become a key component in providing our customers access to new build homes,” he said. “These mixed tenure developments are typically a blend of private sale, social housing, and Co-Ownership homes.”

At a glance

• New-build Property Value Limit: £230,000 from 15 September 2026
• Existing-home Property Value Limit: £215,000
• Share you can buy: 50–90% (affordability assessed at application)
• Where: Anywhere in Northern Ireland (subject to eligibility)
• Find out more: co-ownership.org

For Belfast buyers priced out of full mortgages on new estates, this is the practical change that matters: a higher new-build ceiling, still with the shared-ownership safety net, from mid-September.