Following proactive engagement between NAMA, the Housing Agency and my Department, a process has been established since late 2011 to ascertain whether residential properties made available by NAMA, through its borrowers and receivers, are suitable for social housing. Properties that are deemed suitable may be leased or purchased by local authorities or Approved Housing Bodies (AHBs) through engagement with the property owners or, on their behalf, appointed insolvency practitioners, facilitated by NAMA. To the end of September 2015, NAMA had identified 6,574 residential properties controlled by its debtors and receivers under this initiative as being potentially available for social housing. Of this figure, 2,526 properties have a confirmed demand and are available for social housing. In respect of the 4 Dublin local authorities in particular, since the engagement with NAMA began, 2,005 residential properties have been identified by NAMA as being potentially available for social housing, and of these demand has been confirmed by the local authorities concerned in respect of 763 of these properties.
The remaining 4,048 of the total of 6,574 units identified nationally are no longer available for social housing purposes for a variety of reasons. In respect of 2,469 of the properties identified by NAMA, local authorities considered them unsuitable for social housing because of sustainable planning and housing policy issues associated the units or they were located in areas with no social housing demand. A further 1,579 units originally identified as available for social housing were subsequently discovered by NAMA to be unavailable.
Of the 2,526 that are available and for which local authorities have confirmed demand, 1,600 have been delivered for social housing use at the end of Q3 2015. This figure includes
1,241 units that are complete and a further 359 units where contracts have been signed and final completion works are under way. A further 486 properties are considered as being active transactions whereby terms are agreed or active negotiation is on-going by all parties concerned or where a detailed appraisal is being carried out. An additional 440 properties are to be further appraised. Of the 1,600 units have been delivered through the NAMA process, 649 (41%) of these are situated within the 4 Dublin local authority areas.
The process of reviewing units previously deemed unsuitable by local authorities is on-going. Local Authorities, particularly those in high demand areas, are continually reviewing the list of available NAMA properties to see if they are suitable to be brought into use as social housing.
