Ideas for Stimulating Housing SupplyPosted February 6th, 2015
You can watch my contribution here.
Regarding the Central Bank decision on new mortgage rules, I think the clarity we now have is welcome. I’m not sure why the lengthy deliberation was needed on the new proposals.
I’m not entirely happy with the outcome – maybe I’m not meant to be. I think it is incredibly unfair on people looking to move in to their second home – which may be their first family home. The tiering is welcome, with a clear distinction between First Time Buyers and Buy-To-Lets. I do think that the value at which a first time buyer steps from 10% to 20% is too low for people in Dublin. Nevertheless, we have a decision from the Central Bank.
Now it’s up to us to act on the supply side. And quickly – if renters are not going to be the collateral damage from the Central Bank’s move.
I appreciate the building strategies underway and investments proposed. Responsibility also falls to DCC with their new development plan this year. But we in here need to think about incentives on the taxation side to help free up under-occupied housing stock.
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