Call for phasing out of mortgage interest relief

AN ECONOMIC survey of Ireland by an international think-tank has called for the phasing out of mortgage interest relief or the imposition of a tax on family homes when they are sold.

Last year, mortgage interest relief of €255 million was awarded to those who have had mortgages for more than seven years.

Those supports have been partly responsible for the housing boom that has seen house prices increase by two and a half times in real terms over the past 10 years, according to the Organisation for Economic Co-operation and Development report.