Expansion of help to buy welcomed but needed after 2020 says housing group

Expansion of help to buy welcomed but needed after 2020 says housing group
There are calls to further extend the help to buy scheme. Picture: PA

There are hopes the Government's expansion of the help to buy scheme will be extended past the end of the year.

First-time home buyers can reclaim up to €30,000 off the price of a new build under the plan.

The Housing Minister Darragh O'Brien has said it will help thousands of people get on the property ladder, with 14,000 units expected to be built this year.

James Benson, a spokesperson for the Irish Homebuilders Association, said an extension of the scheme will help, but it can not run out in five months. 

Mr Benson said: "The time limit itself is disappointing and we'd hope for an extension come the time.

"What's important here they are recognising the challenge of the affordability and supply of new homes. 

"This will help people and that's what is important."

The amount of money that can be reclaimed has increased from €20,000. 

Mr Benson also said that a further extension of the scheme will provide certainty and confidence in the market in the future. 

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