Oireachtas Joint and Select Committees

Thursday, 1 October 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014 (Resumed)

10:00 am

Mr. Brendan McDonagh:

Thank you, Deputy. I should clarify that we have offered 6,500 units to the local authority and Housing Agency since 2011. Effectively, it is not sites. It is houses, and primarily apartments, which are built or partially built that could be completed to make them liveable for people. From my list here before me, we have offered them to 31 local authorities across the country through the Housing Agency. As I said, the demand has been confirmed for 2,500 of the 6,500 that we offered.

In regard to sites, my understanding, from various local authorities, is that they have a lot of sites already in their own portfolio and that is not the issue. It is built product, which is the issue and where the demand is and the concentrations.

In terms of the 11,000 sites that we sold, we are constantly selling product out of the portfolio. We have sold a land bank which could have 11,000 sites for houses and on that, only 900 have been built to date. It is mainly the private sector-----