'Too early' to say if Help to Buy scheme is working

A housing expert says its too early to say whether the Government's 'Help to Buy' scheme is actually working.

Housing Minister Eoghan Murphy says it is 'under review' amid reports it will be scrapped.

The grant was aimed at encouraging private developers to build more homes but critics claim it is simply fuelling inflation.

Marian Finnegan is chief economist with the Sherry FitzGerald Group, she said: "The scheme is designed for starter-home properties that are newly built.

"House prices generally are rising and are rising quite dramatically because there's a shortage of product, so we can't look at the entire marketplace and then blame the Help to Buy scheme for what's happening in the wider marketplace," she said.

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