Michael Ring (Mayo, Fine Gael)
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Question 77: To ask the Minister for Finance if he has satisfied himself that the price of homes bought by first time buyers in Dublin will benefit from the recent stamp duty concession; and if he will make a statement on the matter. [13304/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I am satisfied that this important measure will assist with affordability for first time buyers and will help some first time buyers to afford a starter home who might not otherwise be able to do so. It will also help to open the second-hand market more to first time buyers who may have been deterred by the impact of stamp duty. The reductions in stamp duty for second-hand houses should remove distortion between the new and second-hand markets for first time buyers by reducing the degree of concentration of first time buyer demand on the new house market.