‘House plan won’t create bubble’

A new housing bubble will not be created by Government home-building plans, Finance Minister Michael Noonan has insisted.

Moves to triple construction to 25,000 units per year by 2020 and offer State help to first-time buyers sparked concerns that property prices could again become artificially inflated.

Independent Wexford TD Mick Wallace said that the Government should concentrate on social housing, rather than initiatives which would see the State underwrite some borrowings of new buyers.