Túath Records 112% Increase in Turnover

Túath recorded significant year on year growth last year. The Association’s turnover increased by 35% from €23m in 2017 to €31m in 2018 on the back of a 22% increase in properties, with assets valued at over €426m, equalling a 61% increase. A 112% increase in turnover of €16.5m was recorded for the last 3 years.

In 2018, €161 million was spent in building and buying 654 new homes at an average cost of €248,000. A further 147 homes were acquired through long term leasing, bringing the overall total number of new social homes provided to 801 in the year.

Túath secured €161 million in debt and government funding packages from the Housing Finance Agency, European Investment Bank and Allied Irish Bank on fixed terms from 10 to 25 years, coupled with Department of Housing CALF and CAS loans.

The association is heading for another record breaking year with over 1,000 new social homes set for delivery in partnership with councils nationwide. The first 200 of these properties are scheduled for delivery in Quarter 1 with Túath set to hit the 5,000 homes mark by summer 2019.

 

Date: 
18/01/2019
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