Dirt refunds will boost first-time buyers

Deposit Interest Retention Tax (Dirt) will be refunded for first-time buyers in a bid to stoke the housing market.

The perk would be in place until the end of 2017, and apply to deposits of up to 20% of the sale price, finance minister Michael Noonan told the Dáil.

“This refund will run until the end of 2017 in respect of savings up to a maximum of 20% of the purchase price,” he said yesterday.