‘Help-to-buy’ scheme sees €24k surge in house prices

The Government’s ‘help-to-buy’ scheme has contributed to a €24,000 surge in house prices in three months, according to a new report.

And house prices look set to keep rising amid warnings that the likely abolition in the forthcoming budget of the rebate scheme could trigger a surge in demand against the backdrop of an ongoing shortage in housing supply.

The property report from MyHome.ie, in association with Davy, shows the mix-adjusted price on newly-listed properties — seen as the most reliable indicator of future price movements — surged 5% in the second quarter, up almost 9% on the year.