16 July 2025
House Prices – Government’s New Housing Plan Amounts to Last Chance – IPAV
Commenting on the latest CSO House Price Index for May published today IPAV, the Institute of Professional Auctioneers & Valuers, said with new home figures dropping and investment in residential having dived, it’s difficult to see “the desired stabilisation in prices.”
Pat Davitt, IPAV’s Chief Executive said all eyes are now on the Government’s imminent new housing plan. “It has to deliver transformative change to stimulate supply,” he said.
He called for emergency planning laws for a period of time until the measures in the recent Planning and Development Act take effect.
And he said a new form of tax incentive modelled on the previous Section 23, taking on board learnings, was needed.
“While the previous incentive went on for too long and was extended too far, it was a resounding success in terms of property supply.
“When the financial crash hit it was blamed and became an initiative of which no one dare say anything positive, with many political representatives highlighting tax foregone.
“The other side of tax foregone was a strong supply of affordable properties for all cohorts of the market, including renters and workers on low or average wages, all contributing to the economy.”
He said it is ironic that today, any suggestion of re-introducing a somewhat similar scheme is treated with derision.
“The Government needs to be brave and bold in its new housing plan,” he said.
Ends