Dáil Éireann Debate, Tuesday - 20 February 2018
135. Deputy Jackie Cahill asked the Minister for Finance if an audit on all residential property mortgages sold by the mainstream banks to vulture funds in recent years was carried out to ascertain the number of properties available for placement on the market to ease the housing shortage (details supplied); and if he will make a statement on the matter. [8069/18]
View answerAs the Deputy is aware one of the priorities set out in the Government’s housing strategy ‘Rebuilding Ireland’ is to ensure that the existing housing stock is used to the maximum degree possible, with a focus on measures to use vacant stock and to renew urban and rural areas.
The plan proposes to bring vacant and under-utilised housing stock back into use for both private and social housing purposes and includes an investment of €70 million by the Housing Agency which is under the remit of the Minister for Housing, Planning and Local Government to acquire vacant properties, particularly from portfolios for sale from financial institutions and investors for social housing purposes.
I understand that the Housing Agency has thus far purchased a significant number of vacant housing units offered to the State for purchase as social houses by banks and private equity funds under this scheme and is assessing the suitability of further vacant properties. It is not possible to audit the stock in question as this engagement with the various financial institutions is ongoing and not all stock is suitable for social housing purposes but I am informed this engagement is yielding results and will continue throughout 2018.
