Donald Hoodless said he could see five to seven housing associations being created from the old executive.

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Dame Elisabeth Hoodless, who is retiring from the Community Service Volunteers (CSV) after 36 years, said there was no "strategic plan".

BBC: Cuts 'destroying big society' concept, says CSV head

"It's still open that some of the stock could transfer to existing housing associations, but essentially new housing associations are likely to be formed, " Mr Hoodless said.

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According to Mr Hoodless, the principle of the allocation of public housing on the basis of need would not change, although it would be carried out by a new body.

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Another broker, Hoodless Brennan, refused to fill the breach.

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"With the concerns that public expenditure is declining significantly, which would then limit the ability of the Housing Executive to maintain and improve its housing stock, private money would fill that gap, " Mr Hoodless said.

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