Séamus Kirk (Louth, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance his views on whether the continued low level of transactions in the housing market reflects a failure to communicate to potential first time buyers the impending end of mortgage interest relief for owner occupiers; and if he will make a statement on the matter. [42303/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I would not accept that the low level of transactions in the housing market reflects a failure to communicate to potential first time buyers the impending end of mortgage interest relief for owner occupiers on 31 December 2012. In Budget 2012, I confirmed that mortgage interest relief would no longer be available to house purchasers who purchase after the end of 2012 and that it will be fully abolished from 2018. This was clear in all budget briefing. Furthermore, I reconfirmed this at the press conference on 8th February 2012 to announce the publication of the Finance Bill 2012.

I have re-iterated this point on a number of occasions since, including in a speech at the Property Industry Ireland conference last June and most recently on Friday last the 28th September in a speech at the Construction Industry Federation Annual Conference. I have stated clearly that there will be no extension of mortgage interest relief for those who purchase after 2012. This point has been reported widely in the national media.

Detailed information on Mortgage Interest Relief including the fact that it is no longer available to house purchasers who purchase after the end of 2012 is available on the Revenue website – www.Revenue.ie .