Dáil Éireann Debate, Tuesday - 10 October 2017
30. Deputy Richard Boyd Barrett asked the Minister for Finance if studies have been carried out to investigate the impact of the help-to-buy scheme on house prices; and if he will make a statement on the matter. [42601/17]
Amharc ar fhreagraAn independent assessment of the help-to-buy initiative with the following terms of reference was commissioned by my predecessor earlier this year:
- Undertake a general evaluation of the Help to Buy Incentive since its inception, including the level of uptake by potential first-time buyers and the rates of registration by contractors to participate in the scheme.
- Examine the design of the incentive, particularly with regard to the Department's Tax Expenditure Guidelines.
- Assess any potential impact on house prices, endeavouring to examine this both in relation to new build properties to which the incentive applies, as well as to house price trends generally.
- The research report should contain quantitative as well as qualitative analysis and will draw on the results of recent research carried out on the residential property market in Ireland.
Following a competitive tender process, Indecon Economic Consultants were awarded the contract to undertake the assessment in April 2017. Indecon submitted their report to me recently and I expect to publish it later today.
