Government could scrap 'help-to-buy' scheme fearing it increases house prices

Government could scrap 'help-to-buy' scheme fearing it increases house prices

The Government is reportedly looking at scrapping the help-to-buy scheme for first-time buyers.

There are fears the scheme launched in the last budget is increasing house prices and having an adverse effect on the market.

The Housing Minister, Eoghan Murphy, has been tasked with a review of the Rebuilding Ireland housing strategy by September.

The Sunday Times reports that this will likely focus on how to increase supply, which the scheme has not been successful in doing.

Niall Shanahan from Impact Trade Union says scrapping it could lead to problems.W

"We have, according to the 2016 census, 183,000 vacant homes in the country - bare in mind, that's while 8,000 people are living in emergency accommodation.

"Meanwhile, this help-to-buy scheme appears to have had an inflationary effect on house prices, but if the scheme is to close, it's likely there will be a surge, and it's likely that this will further inflate the market."


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