It is "hard to predict" when housing in Ireland will become more affordable in Ireland, the Taoiseach has said.
Stamp duty on houses and inheritance tax rates changes are to be considered in this year's budget, according to senior Ministers.
Taoiseach Simon Harris said he understands there is still a “real affordability challenge” for many people hoping to get on the housing ladder and said the Government had brought in an “unprecedented level of interventions”.
Simon Harris at Trinity College, 17-08-2022. Image: PA Images / Alamy“If you believed housing was affordable for people and there wasn’t an affordability challenge, you wouldn’t be investing in Help To Buy, the First Home Scheme and the likes,” he said.
“When we’ll see things begin to level out a bit is always hard to predict precisely but I do think based on what we see from the ESRI report, the Housing Commission, our own data and intelligence, I think we have quite a way to go in terms of pent up demand.”
Last year, there were 32,695 homes built in Ireland and Mr Harris has predicted this figure could rise to around 40,000 in 2024.
In the autumn, Housing Minister Darragh O’Brien will set out new housing targets for 2025 and beyond.
Main image: A housing estate in Donegal town. Image: Richard Wayman / Alamy
