Vol. 541 No. 3
123 Mr. Ring asked the Minister for the Environment and Local Government the reason local authority houses must be valued every six months; if he will consider altering this policy to an annual basis; when the regulations for valuations were introduced; and if these regulations have been amended since they were introduced. [21598/01]
Under the current tenant purchase scheme, which came into effect in May 1995, sale prices are based on the market value of the dwelling in its existing state of repair, less certain discounts. It is a matter for the local authority to arrange for the valuation of dwellings being offered for sale. The terms of the scheme, as notified to local authorities, require that tenants should be advised that the valuation will stand for such period, not exceeding 12 months, as the local authority may decide and that tenants who wish to purchase, within such period, should agree in writing to proceed with the purchase. It is, therefore, a matter for each local authority to decide on the period for which the sale price will stand, subject to the maximum limit of 12 months.
