David Stanton (Cork East, Fine Gael)
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462. To ask the Minister for Environment, Community and Local Government further to Parliamentary Question No. 346 of 1 April 2014 the progress that has been made regarding the introduction of a statutory regulatory framework to allow tenants of approved housing bodies, in particular voluntary housing bodies, to purchase their homes; and if he will make a statement on the matter. [30736/14]

Alan Kelly (Tipperary North, Labour)
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Approved Housing Bodies (AHBs) are the de factoowners of their properties and are required to make them available for social renting for the duration of the mortgage or, as the case may be, the payment and availability agreement. My Department cannot unilaterally make provision for their sale to tenants. Any such decision would have to involve the AHB and have regard to the mortgage on the property. On expiry of the mortgage period , and subject to compliance with the terms of the funding agreement, the AHB becomes the owner of the property.

In relation to a regulatory framework for the sector, Building for the Future, a voluntary regulation code was introduced in July 2013 as a precursor to a statutory regulatory framework to support the sector’s long-term growth. In February 2014 , an interim Regulation Committee was established under the auspices of the Housing Agency and is supported by a Regulation Office within that Agency. The Regulation Committee was set up to oversee implementation of the voluntary code and to advise on statutory regulation. To date, over 150 AHBs have signed up to the code.

Regulation is an important element in providing the conditions necessary for the growth and development of the sector. Financing that growth is equally important and the question of how best to utilise the existing asset base, including the option of selling existing stock to tenants, is a factor to be considered.