'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.

More in this Section

Denis Naughten to introduce reduced levy fee for independent radio stations

Brother of Tunisia terror attack victim calls on world leaders to take action

‘An absolute embarrassment’: Students slam Trinity's move to axe 'freshman' title

New direct-provision centre in Clare after 30% rise in asylum-seeker applications


Today's Stories

Man jailed for damaging headstones

Citizens’ Assembly chair rejects criticism of 8th report

Welfare pay-outs held up by public service card errors

Government ‘satisfied’ with Brexit backstop

Lifestyle

The biggest cancer killer will take your breath away

Hopefully she had an idea...

Power of the press: Meryl Streep and Tom Hanks discuss 'The Post'

More From The Irish Examiner