HELP MAY shortly be at hand for owners of some of the large number of unsold houses and apartments overhanging the market throughout the country.

Even in these straightened times, the Government has set aside €20 million to allow local authorities and housing associations to lease at least 2,000 additional homes on a long term basis for use as social housing.

Less property owners sense that this could be another gravy train, the Irish Council for Social Housing is advising housing associations that they should be looking for discounts of at least 20 per cent on the open market rent in return for 20-year leases.

With unemployment still climbing steadily, it is hardly surprising that the waiting list for social housing is at its highest for years at 56,000. Local authorities have not been moving fast enough to clear the backlog and now the housing associations are being encouraged to embark on leasing as a means of speeding up supply. A new report has also recommended that housing associations should in future get their funding from banks and pension funds rather than the State.