The South Belfast MLA said: “This is devastating news that the co-ownership scheme is no longer taking any new applications.
“Co-ownership has been shown to be very successfully in dealing with an affordable housing crisis and as we are in the middle of such a crisis here I would have thought more money would have been given to this scheme.
“People are still finding it hard to get onto the housing ladder and are being forced to look elsewhere for housing. This is further fuelling the so called brain drain from Northern Ireland to the Republic of Ireland or to Britain, something that I have spoken out about in the past.
“While I did welcome Margaret Richie’s new social housing strategy I would however urge the Minister to give more funding to make sure that new applications will be taken as soon as possible for this scheme.”