Seanad debates

Wednesday, 20 November 2002

We must ensure that first-time buyers are not priced out of the market. The first-time buyer's grant was a paltry but important measure which attempted to redress the balance. The Government's decision to abolish the grant has ensured that the balance we were trying to strike has been undone. Investors, who were already enjoying significant benefits, are now enjoying greater benefits still. In the past, houses in new estates in counties Meath and Kildare were bought off the plans by investors, meaning that young couples with hard-earned deposits found that 80% or 90% of the houses had been sold when they tried to purchase one. I do not doubt that we will soon return to such a situation.

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