Back in December we had set out a summary of the recent measure introduced by the government to provide some relief for first time buyers including the relaxation of Central Bank mortgage rules as well as the Help to Buy scheme for first time buyers.
It would appear however that the latter initiative may already be at risk of being dropped by the new housing minister. Concerns had been raised that the initiative was further fueling a hike in housing prices and that the focus should be on measures which increase the overall supply of housing.
The matter is under review by the Department of Finance and an announcement in relation to the scheme future will more than likely be made within Budget 2018. The increase in the level of house prices is expected to rise to around 8% in 2017 and it is feared that the threatened withdrawal of the said relief may push prices even higher.
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