Housing market’s politically induced inertia can now end

THE property market can come out of its politician-induced coma.

Since Michael McDowell first floated notions of changes to stamp duty on purchases in mid-September, the house market went into slow-down, and then full-stop.

The decade-long rampant property market backed-up with un-sold semis, while the second-hand market most felt the freeze, builders (responsible for a record 90,000 new units this year) began to fret as showhouse carpets stayed unsullied by viewers’ footfalls. With the boot on the other foot for a change, buyers clearly voted with their feet. They stayed home.