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Thread: Labour plan to giveaway 125,000 Council Houses for 40% of value in exchange for Votes!

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    Default Labour plan to giveaway 125,000 Council Houses for 40% of value in exchange for Votes!

    Labour are planning to off load the Nation's stock of Local Authority homes for 40% of their slumped value. Many Local Authority homes are already standing at only 30% of their former value. Selling them off at a further 60% discount would mean that they would effectively be sold for as little as 18% of their former value.

    Under previous schemes Tenants were allowed a discount on open market value of 3% for each year of their tenancy subject to a maximum discount of 30%

    Purchasers will be offered Local Authority Finance if they can demonstrate they have been refused a mortgage by mainstream lenders. At the moment many Local Authorities collect less than 50% of mortgage payments a difficulty that has predated the property crash.

    Approximately 10% of the National Housing Stock is owned by Local Authorities. Many of the Stock units were added at enormous cost per unit, running to €300,000 per unit, many of which immediately were in negative equity at the peak of the property market.

    There is bound to be a political dividend if so many voters believe that they are getting a good deal in buying their homes at massive discounts. In the past massive numbers of Local Authority Homes were sold in the UK under Mrs. Thatcher.

    Local Authority Homes are let on a Differential Rent System where by rent increases in line with household income.



    The Independent reports, that typically a House valued at €200,000 will now sell for €80,000 under the new scheme.

    I know of few houses in Local Authority ownership worth anything near €200K. This is clearly spin designed to puff the argument that the scheme is aimed at raising revenues for the State.

    Currently up to 10% of Local Authority Homes have extensive repairs and refurbishments carried out each year typically costing as much as €100,000 per unit. Would people take better care of their homes if they owned them?


    sluphttp://www.independent.ie/national-news/council-tenants-offered-homes-at-60pc-discount-3287903.html

    Differential Rent Scheme > Services > - CorkCity.ie

    Buying your local authority house or flat

    http://www.independent.ie/national-n...t-3287903.html

  2. #2

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    So what will Labours solution be to the homeless situation now that the housing stock has been completely sold off ?

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    Politics.ie Member Analyzer's Avatar
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    A house valued at 200000 ?

    A house valued by whom, exactly ?

    .....the Minister for House Prices, Brian Hayes ?
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Quote Originally Posted by odie1kanobe View Post
    So what will Labours solution be to the homeless situation now that the housing stock has been completely sold off ?
    There are still Councils building homes at several times the cost at which they can be bought!

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    When promoting the selling off to council tenants scheme, will the authorities also point out that by becoming an owner you become liable for the household charge and next year to the property tax?

  6. #6

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    Quote Originally Posted by potholedogger View Post
    There are still Councils building homes at several times the cost at which they can be bought!
    If you sell off even 50% of the housing stock you cannot replace it.

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    Politics.ie Member tigerben's Avatar
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    Quote Originally Posted by laidback View Post
    When promoting the selling off to council tenants scheme, will the authorities also point out that by becoming an owner you become liable for the household charge and next year to the property tax?

    And looking after the property themselves, no more council free up grades for doors and windows. As well as paying water charges at full value as no longer a council tenant. Keep renting people , don't be fooled into owning a house. It's going to be the same as owning a car, a Constance stream of income for the government.

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    Quote Originally Posted by odie1kanobe View Post
    If you sell off even 50% of the housing stock you cannot replace it.
    It looks like the plan is to get the Councils out of Housing provision and to privatise the provision of Social Housing!

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    It never surprise me on here that the amount of hyperbol and shyte stirring going on is taken as a true fact. Especially when an in&mrag is given as a "source " of information. A very discredited in&m rag at that.

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    Politics.ie Member southwestkerry's Avatar
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    I know people in council houses who would not get a credit union loan never mind buy their council house.
    A ship at harbour is safe but that is not what ships were built for.

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