Mini budget - re-introduce stamp duty for FTB??

I am a FTB, cash ready, but still very nervous about the market!

Someone mentioned the only sales are now to FTBs, with FTB low mortgage deals etc. Is there a chance the govt will re-introduce some sort of FTB stamp duty in the mini budget?? If so, should I jump now and try to close a deal before the budget?

Yes. You should definitely purchase now. In fact, pay over the asking price while you’re at it.

Can’t see it happening myself. The mantra is still “return activity to the housing market”. When they start saying “who gives a flying fuck about the housing market”, that is the time to worry, or it would be if we weren’t all buying ice skates for the journey to hell…

I doubt the government will do this as it will put another nail in the coffin for the property maket. There won’t be any sales and people will not buy until they know what is exactly going on with this government

You’ll lose far more in with the fall in value of the property in 2 months than you will on the stamp duty.

They’ll wait for FTB transaction to return before taxing them.

If it moves, tax it. If it stops moving, subsidise it.

Oh sweet jesus we need a sarcasm smiley!

just to be crystal… this is NOT real advice newcomer!

Highly, highly unlikely.

Rest assured that An Taoiseach Tom Parlor would not contemplate moving against the saintly meek innocent First Time Buyers who are the lifeblood of our terminally ill property bubble ponzi scheme, i mean economy.

And don’t forget there is about €70 million billion in VAT currently tied up in unaffordable affordable shoeboxes and half finished ghost estates, that we need to extract from the young wage slaves, i mean release to the exchequer so he can satisfy Bono’s public spending programs.

Exactly. If the government reintroduce FTB stamp duty, the developers and banks will subsidise it. But it won’t happen.

No chance of stamp duty on FTB.

Government rely heavily on vat from new houses and their aint much activity there.

This government and their developer friends and Country Tom wont allow any change here.

Also prices are falling every month. Take your time and wait for the collapse in prices.

Irish property prices are still incredibly high compared with other countries and when unemployment hits 500,000
watch the fall in house prices.

This is only the beginning of the collapse.

That will be in approximately 2 months time with the way things are going. Biffo said 450k unemployed today but me thinks he is way off.

Newcomer

There is no chance in my opinion of stamp duty being brought back for first time buyers.

Out of curiosity (if you dont minD), are you planning to but a house or an apartment.

In my job I meet builders and developers every day.

Today I was told that the armageddon that is coming down the tracks will see apartments going for 50k and traditioanAl 3 bed semis in nice ares going for 200k. He reckons that they will stay at that for 10 years.

If you are getting a traditional 3 bed house with its own front and back garden for reasonable money, you may be doing okay. I would stay clear of all high desity stuff.

Mike

I second that. In fact, you should buy the estate agent and the vendor an expensive holiday in the Seychelles each, for them and their partners. Just out of sheer exuberance.

Just slap it on the credit card. Why worry? You’re on the property ladder now, all your troubles are over forever.

The pension levy will affect the market
The mini budget will affect the market
The rising unemployment will affect the market
The normal budget later in the year will affect the market

As others have said,i would fully expect carnage within 12 months, it’s not nice but that’s the way i see it.I’m looking at a house valued €650,000 atm i would fully expect the same house to be somewhere between €400,000 and €500,000 by the end of the year.

Lads if you’re being sarcastic can you add a sarcastic smiley or point out the fact?

Someone comes on here and asks for advise. You may see things more ‘clearly’ than the geenral public but you’re coming across as elitist here.

Just my thoughts.

This is interesting - what area of the country. I was thinking standard Dublin 3 bed semis in areas like Stillorgan, once trading close to 700k will be close to 300k by the time the carnage is over.

You forgot the mid-year emergency budget we’ll have around July :angry:

I’m not sure if thats funny or scary. :open_mouth:

If they don’t get it right this time it’s gonna be an Elms st. style nightmare but I seriously hope it becomes a haha joke