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VAT And Borrowing Need To Be Addressed To Help First Time Buyers

Westmeath's Pat Davitt from IPAV says affordability is still the main issue to overcome.

A second cabinet meeting will be held this evening to deal with housing proposals to curb the impact of investment funds. 

The issue won’t be dealt with at the regular morning meeting and instead Ministers will reconvene this evening. 

Ministers are examining changes to planning laws to set aside a certain amount of new developments for either first time buyers or owner occupiers. 

Increased taxes on such investment funds are also being looked at. 

A new house in any of the main midlands town costs between €250,000 to €300,000.

CEO of the Institute of Professional Auctioneers and Valuers, Castlepollard's Pat Davitt says while supply needs to be addressed, affordability is still the key issue:

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