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 Post subject: Re: Budget 2017 - First Time Buyers Income Tax Refund
PostPosted: Sun Nov 27, 2016 5:21 pm 
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Property Magnate

Joined: Oct 12, 2014
Posts: 626
Location: Dublin
Scratcher wrote:
SBP reporting the following:

"First-time buyer scheme faces axe. Bankers and estate agents warn of price surge in new year; FF accuses government of trying to push up prices"

Will FF try to steal the populist vote on the back of the property crisis. Be careful voters - It's a trap :)

It would be amazing if FF lobbied to remove/reduce the FTBers scheme now - given all they created, or supported through inaction, in terms of bubbles over the last 20 years.

But, I guess they'll make noise about the rebate, get some airtime, and then leave it as is...
...can't be doing anything that might take gas out house prices, and reduce developers profit margins!
:sick:


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 Post subject: Re: Budget 2017 - First Time Buyers Income Tax Refund
PostPosted: Fri Jan 12, 2018 12:37 pm 
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Of Systemic Importance
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Joined: Aug 20, 2009
Posts: 5157
Help-to-buy scheme leads to 50% rise in first-time buyers

https://www.irishtimes.com/business/eco ... -1.3352549

So I did the sums form the CSO release

http://www.cso.ie/en/releasesandpublica ... ndicators/

Purchases of new builds by FTBs

Dec 2015 to Nov 2016: 1,961
Dec 2016 to Nov 2017: 3,056
Increase: 64%

Interestingly, the paper edition headline on Front Page said "Help-to-buy scheme boosting first-time purchasers" which seemed to imply it was helping, when one can argue prices all just went up 20K. They toned down the headline since


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 Post subject: Re: Budget 2017 - First Time Buyers Income Tax Refund
PostPosted: Sun Jan 14, 2018 8:53 am 
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Under CAB Investigation

Joined: May 12, 2012
Posts: 2074
Even 3000 FTBers buying new homes is pretty microscopic.

The cohort in the household-forming age group is about 80,000 per year.

Divide it by two - houses are usually bought by couples - and you have less than 10% of potential FTBers buying new homes.

Reliable statistics don't go back long enough but I think this number has been over 30% in the past.


New house building is still far too low.


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