The Northern Ireland Federation of Housing Associations (NIFHA) said during the last year, work on a total of 1,507 new social and affordable homes was completed, exceeding the Social Housing Development Programme target of 1,200.
In addition, construction started on 1,759 new homes against a target of 1,750.
Ben Collins, Chief Executive of the Northern Ireland Federation of Housing Associations (NIFHA), said the figures are a good result for the sector "which has been able to deliver despite some challenging economic and political circumstances".
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"As well as providing much needed new homes, investment in these new developments also helps boost our local economy and provide valuable jobs, especially in the construction sector," he said.
Continuing, Mr Collins called for a decision in 2016 to reclassify housing associations as public sector bodies to be reversed.
"In the last financial year alone, housing associations leveraged £948m from private investment to help build social and affordable homes," he said.
"This was in addition to core funding of c. £1,070m from the Dept. for Communities, which is not able to borrow from private sources.
"Our successful partnership with the DfC and the NI Housing Executive mean that more high quality homes can be built for those who need them most."
Mr Collins explained that if housing associations are classified as public sector bodies, they will no longer be able to draw down private finance to deliver such value for money.
"That's why it's essential that the reclassification is reversed," he said.
"If that is not possible in the absence of a Minister, then the current derogation, which is due to end in March 2019, must be extended. NIFHA will continue to work closely with the Dept. for Communities on this important issue."
(LM/MH)
