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Forde calls for increase of loan ceiling for shared ownership scheme

17 February, 2004

Sinn Fein local election candidate for Donaghmede Killian Forde has urged Dublin City Council to increase the maximum loan level that can be applied for under their "Shared Ownership Scheme". Mr. Forde said "Currently the maximum loan available from the Council is €200,000 and the maximum purchase price for a property is only €220,000. The result is that young people from North East Dublin are effectively being priced out of their own neighbourhoods."

Mr. Forde said

"Over the last week I checked with twelve estate agents with property for sale in the Donaghmede area and discovered that there is not one single property available which could be purchased under the Shared Ownership Scheme. The cheapest property I came across in the Donaghmede Ward was on sale for €230,000. I fail to see the point is advertising, administrating and operating an affordable housing scheme that excludes all property in Donaghmede, Kilbarrack, Raheny, Edenmore, and Harmonstown.

"Young people from North east Dublin are effectively being priced out of their own neighbourhoods and been forced to move to Meath, West Dublin, Kildare and beyond. Dublin City Council needs to raise the maximum loan available to €250,000 to ensure that communities like Donaghmede do not become a no go area for first time buyers and young househunters."ENDS

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