Shared Ownership Scheme

Thursday, 10 October 2013

Questions (141)

Michael McGrath

Question:

141. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government if a review is underway regarding the unfair and inequitable shared ownership scheme for previous purchasers of affordable and non-affordable homes; if the rental equity held by local authorities on these homes has been amended to reflect the dramatic changes in market values over recent years; if it is proposed to devise a mechanism for the conversion of rental payments by purchasers to mortgage type repayments each month; the total number of homes that were purchased under the shared ownership scheme in all local authorities since its inception; and if he will make a statement on the matter. [42864/13]

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Written answers

Minister of State at the Department of the Environment, Community and Local Government (Deputy Jan O'Sullivan)

The Government’s 2011 housing policy statement announced the standing down of all affordable housing schemes, including the shared ownership scheme, in the context of a full review of Part V of the Planning and Development Act. That review is available on my Department’s website www.environ.ie and the period for public submissions closed on 27 September 2013.

Earlier in 2013 , I asked the Housing & Sustainable Communities Agency to conduct a standalone review of the shared ownership scheme, including identification of the main difficulties and recommendations for mitigating measures. I have received an interim draft of the review from the Agency and I intend to issue a circular letter to local authorities this month with preliminary recommendations arising from the review.

A number of issues have been identified that need further detailed financial analysis in order fully to assess the impact on local authority finances of possible mitigating measures. This additional work is underway and I expect to be in a position to address other aspects of the matter in the coming months.

Statistical information on the numbers of homes purchased under the shared ownership scheme, as well as other affordable housing schemes, can be found on my Department’s website, www.environ.ie