The Government’s Help To Buy scheme funded people who already had large deposits and would have been able to buy their homes anyway, TDs will be told tomorrow.
In a submission to be delivered to the Oireachtas housing committee, officials from the Economic and Social Research Institute (ESRI) will say that funding these people when supply is so constrained “will very likely lead to higher house prices”.
A review of the Help To Buy scheme data suggests that many households with large deposits have received support, the ESRI will say.
“It is likely these households were not constrained and would have been able to complete the transaction anyway,” their opening statement, seen by the Irish Examiner, states:
Housing supply is so constrained in Ireland and increasing purchasing power for households will very likely lead to higher house prices.
“Such rises in house prices are likely to exacerbate affordability problems
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