Cairn welcome today’s Help-to-Buy Rebate Scheme as a positive boost to the Irish housing market as part of Budget 2017.
Today’s confirmation by the Minister for Finance Michael Noonan TD, of a Help-to-Buy scheme which will help provide a rebate of income tax up to 5% of the purchase price of a new home up to the value of €400,000 to first-time buyers is very welcome. This will help offset the deposit requirements for houses and is an important financial support for the many thousands of first time buyers seeking to get on to the housing ladder.
We believe that housebuilders in Ireland will respond positively to today’s announcement and will significantly increase the supply of new homes across the country in the knowledge that customers will have a stronger chance of securing the required financing.
Coupled with the Housing Action Plan provisions for fast tracked planning measures, and the Local Infrastructure Housing Activation Fund announced earlier this year, this Government is delivering on its promise to work with housebuilders to address the acute shortage and to make buying a first home more affordable for individuals and families who have been locked out of the market for the past number of years.
For our part, Cairn is currently building on five sites, with our new Churchfields development of 350 new family homes in Ashbourne launching this week. With prices starting from circa. €270,000 we are pricing houses to meet our buyers’ budgets and we look forward to building a thriving community in this key commuter town and in other areas of high demand in the Greater Dublin Area over the coming months and years.
Michael Stanley, CEO