Michael Noonan is making attempts to kick-start Ireland’s distressed property market – by winding down incentives for first-time buyers.
Too buy, or not to buy
‘Wtf?’ said Mickey Moore. Whatever that means!
There will be no extension to a generous tax relief deal for first-time buyers who buy before the end of this year, Minister for Finance Michael Noonan insisted today. via Mortgage crisis: Noonan warns no extension of tax relief for first time buyers – Property & Mortgages, Personal Finance – Independent.ie.
Anyone buying next year will not get the mortgage tax-relief. The minister warned potential buyers to act fast to avail of the current scheme.
‘Cynical,’ said George Oilwell.’He should have waited. He could end up with egg on his face.’
The move coincides with a slight rise in Dublin house prices – but a further fall nationwide was recorded. The collapse of the property market has seen a fall in price of between 60-70% from their peak. With supply outweighing demand and contractions in bank lending the future for property in Ireland still looks dismal.
It is estimated there is anything up to 345,000 vacant units in Ireland following the catastrophic policies pursued by successive Fianna Fáil administrations.
‘They should be giving them away,’ said Larry Bird. ‘Back to the communities.’
Filed under: The Irish Daily Bull, economy, fine gael, first time buyers, George Oilwell, house prices in ireland, irish property market, larry bird, michael noonan, Mickey Moore, mortgage tax relief, property in ireland, The Irish Bull, vacant housing units in ireland
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