The proposed plan to give first time buyers a ten thousand euro tax break to buy a new home in next week’s budget may drive prices up further.
A report by Daft.ie found that asking prices for properties have risen by almost 8 percent in the past year.
Myhome.ie further predicts that prices will continue to rise nationally, by 5 percent, next year.
It’s believed that first time buyers will be incentivised to buy new homes in next Tuesday’s budget.
But author of the Daft.ie report, economist Ronan Lyons says stimulating demand more could make the problem worse.
