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Dáil Éireann debate -
Tuesday, 24 Jun 1980

Vol. 322 No. 9

Written Answers. - Dublin Housing Costs.

442.

asked the Minister for the Environment (a) the average cost of a house in Dublin (i) in June, 1977 and (ii) at the latest available date; the amount of the SDA loans available and the interest thereon; and (b) the total amount of the repayments on such loans in each year.

As indicated in my reply to Question No. 438 by the Deputy, the information available in my Department in the case of private houses relates to the average gross price of houses for which loans are approved by the main lending agencies. The houses concerned are not normally comparable from quarter to quarter or from area to area. This applies particularly in areas where the numbers of loans approved in a quarter by the different lending agencies vary appreciably and the average prices can also be influenced significantly by the costings of individual housing schemes. Subject to these qualifications, the average gross price of private houses in the Dublin area was £14,415 in the quarter ended 30 June 1977 and £25,894 in the quarter ended 31 March last.

The maximum SDA loan available was £7,000 in June 1977, having been increased from £4,500 as from 26 May 1977, following the change of Government. The maximum loan in June 1980 is £12,000. An interest rate of 12½ per cent applies in both cases. In fact, the average loans advanced under the scheme in the quarters ended 30 June 1977 and 31 March 1980 respectively were £3,480 and £8.040. Repayment of the loans at the fixed rate of 12½ per cent over a 30-year period would amount to £10.73 a month for each £1,000 borrowed.

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