Dublin city council has had to repossess 72 homes in the past two years as arrears on its house purchase scheme has tripled.

A presentation to the council's Finance Committee warns that repossessions will remain high and reveals that a total of 45% of its loans are in arrears.

Around one third of those in arrears are over 12 months behind in repayments.

It states that a number of borrowers have failed to engage with its arrears resolution process and that 41 properties have been abandoned.

The presentation by senior executive officer Tony Flynn shows that arrears have tripled from just over €3m in 2007 to over €9m by the end of last year.

The repayments arrears involve home loans totalling over €180m or nearly half the total.

It states that special funds will have to be set up to cover the loss on the council's loans from the Housing Finance Agency and the cost of dealing with repossessed or abandoned houses.

The loans cover a number of different schemes including affordable housing, shared ownership and tenant purchase.