Energy overhaul in NI homes 'may cost £9bn'

The Housing Executive has published a report estimating the cost of public and private homes in Northern Ireland

Retrofitting properties to improve energy efficiency will have a huge economic benefit, the new CEO of the Housing Executive has said.

Grainia Long took up the role on 1 April.

It could cost more than £9bn to improve the efficiency of private and public homes, she said, citing a report.

Ms Long also said the organisation will play a critical role in helping government to meet net zero carbon targets.

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The Housing Executive is Northern Ireland's biggest landlord with 85,000 tenants, and is facing the biggest shake-up in its 50 year history.

In November, the minister in charge announced a reform which will see the organisation able to borrow money and begin to build houses again.

Long-term planning

Ms Long said work was going on behind the scenes to prepare for the future and that it would be a few years before borrowing would begin.

She said "freedom to borrow" was critically important for any landlord and that planning on estimating costs and mapping out work had been ongoing since November.

"We know it is £3bn over the decade and it's a much larger number when we think about a 30-year period," Ms Long told BBC Radio Ulster's Inside Business programme.

Grainia Long took up the role with the Housing Executive on 1 April

"When you put on top of that the requirement on all landlords on building society post-Grenfell and the transition to net zero, this is a very big number.

"Whatever we create has to be around in another 50 years, so we are not going to rush it.

"I can understand people want to know answers to questions right now, but I wouldn't be doing my job if I didn't say... there are a lot of things we just don't know."

The organisation is investing £217m this financial year which will be used to maintain and improve its existing properties, it said.

The Communities Minister, Deirdre Hargey, announced this week that £162m would be allocated for new social housing in 2021-22 across Northern Ireland.

Net zero

The Housing Executive recently published a report estimating the cost of public and private homes in Northern Ireland.

"What it found was the cost to improve just under 600,000 homes in Northern Ireland to Band B, which is not the most energy efficient, is £9.2bn and that's a cost of £15,500 per home," Ms Long said.

"The impact that investment has on the economy is huge because you are investing that and getting work done to homes which is an economic output.

"It'll create jobs and sustain local companies and drive down the cost of energy."

You can listen to Inside Business with Richard Morgan on BBC Radio Ulster at 17:30 BST or on the BBC Sounds App.