Dáil Éireann díospóireacht -
Tuesday, 14 Oct 1997

Vol. 481 No. 4

Written Answers. - House Repossessions.

Liz McManus

Ceist:

39 Ms McManus asked the Minister for the Environment and Local Government if his attention has been drawn to a report from Threshold suggesting that more than one in ten householders fell behind with their mortgage repayments in 1996 and that three houses per week are being repossessed by building societies; the steps, if any, he will take to address the problem of spiralling house prices; and if he will make a statement on the matter. [16218/97]

Minister of State at the Department of the Environment and Local Government (Mr. Molloy)

The overall trend in mortgage arrears has been downwards in recent years. The reference in the Threshold report to households in arrears is somewhat misleading as it includes cases where payment was made late, possibly by only a matter of days, and cases where only partial payment of the amount due was made.

The number of repossessions has also declined in recent years and the 1996 total of 178 quoted in the Threshold report was the lowest in any year since 1990. Indications are that the decline in repossessions has continued in 1997.

My Department has commenced the process of selecting consultants to undertake a study of the factors influencing increases in house prices and the implications of likely future developments.