Vol. 519 No. 2
250 Mr. J. Mitchell asked the Minister for the Environment and Local Government his views on whether the £100,000 upper limit for the 50/50 house purchase scheme is completely inadequate for the Dublin area; if he will consider raising the limit for Dublin; and if he will make a statement on the matter. [13461/00]
The shared ownership scheme is designed to provide home ownership, in a number of steps, for those who cannot afford full ownership in the traditional way. The actual maximum house price for which an applicant will be approved is determined by each local authority in the light of the individual's circumstances and their ability to meet the financial commitments involved. I understand that, where appropriate, the maximum can exceed £100,000.
I am satisfied that the scheme, as currently constituted, has been working successfully, particularly in the greater Dublin area. For example, in 1998, some 805 shared ownership transactions were completed nationally. That figure rose by 63% in 1999 to a total of 1,314 transactions. Of these, some 70%, amounting to 926 transactions related to the greater Dublin area. The effectiveness of the scheme will continue to be monitored by my Department in conjunction with the relevant local authorities.
