'State failing to tackle house prices'

A ONE-THIRD increase in house prices since the last general election is a sign of Government failure to tackle soaring property costs, Fine Gael said yesterday.

Fine Gael environment spokesman Fergus O'Dowd said last December's stamp duty threshold increase for first-time buyers was pointless given the continuing price rises.

Since budget day last December, first-time buyers do not have to pay stamp duty on new houses up to the value of €317,500.