ERA Ireland Calls for Stamp Duty Review
Frank Doonan, CEO of ERA Ireland, recently stated that “If we have confidence in the medium term interest rate direction and buyer demand for housing then it seems a shame to allow the market slip into this short term demand lag which could de-rail the medium term prospects of the housing industry and the wider economy”.
He then went on to say that “Maybe it is time for government to be brave and intervene to support affordability for both first time and mature buyers. Let’s make a start with stamp duty thresholds which are overdue to be reviewed in the light of current market prices.” A similar call for action was also proposed in the Irish Times today as they prevailed upon Brian Cowen to cut the top rate of stamp duty in half so as to entice investors back into the market and as such, stimulate market activity once again.
He then went on to say that “Maybe it is time for government to be brave and intervene to support affordability for both first time and mature buyers. Let’s make a start with stamp duty thresholds which are overdue to be reviewed in the light of current market prices.” A similar call for action was also proposed in the Irish Times today as they prevailed upon Brian Cowen to cut the top rate of stamp duty in half so as to entice investors back into the market and as such, stimulate market activity once again.
