2024-
The topic on everyone’s lips is housing.
Tandy’s Lane Lucan launches another phase early September and north of the the river in Clonsilla, Luttrellstown Gate is a brand new launch of the first phase later in September. These will be a measure of the Dublin market for late 2024.
Interest Rates will lower throughout the year making repayments more affordable.
With the rumour that a change of Government in late 2024 or latest Spring 2025 could possibly remove either or both FHS or HTB, buyers will buy early in the year if possible to secure this funding support. There is also the prospect of lower interest rates when the ECB lowers rates.
Demand far exceeds supply in the greater Dublin area so prices are unlikely to go down significantly over a long period.
Watch the pressure on the Government to drop VAT from new homes. This would be a very significant step if the Government was to take it. VAT on new homes is 13.5% of the price. Its hard to see how the Government could drop that amount of tax as it would have to be made back somewhere else. If there is any change in VAT I believe it would only be a lowering of VAT on new homes, perhaps down to 9%. This is still significant and would reduce the price of a typical new home ( say costing €380,000.00) by €17,100.00. This amount would not totally disrupt the market and it could be capped on houses under €425,000.00
Dermot P Coyne
