‘Incentives for buyers must be backdated’

ANY budget changes affecting construction or property deals should be backdated to today to stop the market going into paralysis.

The suggestion comes from Alan Cooke of the Irish Auctioneers and Valuers Institute, who also said the Government should consider taking an equity stake in future house purchase, as a 10-year or long-term investment to restore confidence in the market.

Property deals could stall between now and October 14, as buyers will wait to see if any stamp duty changes are made or other incentives to stimulate the market are introduced.