I propose to take Questions Nos. 61, 69, 110, 130, 142 and 420 together.
I refer to the reply to Questions Nos. 53 and 55 on today's Order Paper. As indicated in that reply, the Government have taken action on a wide front to maximise access to home ownership, particularly through measures to promote adequate supply of housing to meet very strong demand. In particular, we have supported first time buyers through a range of targeted measures, notably affordable housing schemes and stamp duty reduction. Reduced stamp duty yielded significant savings for first time buyers and has been particularly beneficial for people saving for a deposit.
It is not possible for me to comment in detail on the Permanent TSB house price index, which is based on Permanent TSB's own lending transactions. However, the figures published by my Department showing the actual overall average house prices for the whole market, based on returns from all lending institutions, do not show the rate of price growth at a six year high.
The Department's figures indicate that, with the exception of a period between the third quarter of 2001 and the second quarter of 2002, the rate of increase in new house prices nationally at the last quarter of 2005 was lower than at any time since 1996. The rate of increase for second hand houses at the last quarter of 2005 was also lower than the rate during most of the period between 1996 and 2004.
Government policy in this area has been informed by a range of reports and recommendations, including three reports on the housing market by Peter Bacon and Associates in the period 1998 to 2000, The National Economic and Social Council report on the housing sector in 2004 and the Sustaining Progress Agreement, in which the Affordable Housing Initiative was included as a special initiative. In addition, the Affordable Homes Partnership in 2005 was established following a progress report on the implementation of the Affordable Housing Initiative by Mr Des Geraghty. My Department has regard on an ongoing basis to relevant material in reports by various public and private sector bodies. It will continue to monitor closely developments and views so as to provide effective input to policy in relation to housing.