It’s more like the property pogo stick than ladder.

Ah here let’s not fall uni this trap again! As a homeowner myself who bought during the boom can we stop with this pressure that we all need to be on the ladder! Why can’t we be like the continentals happily renting our entire lives????

As a person that was thinking of buying a house next year this has made me nervous. Why? because this will keep proces artificially high has people that were waiting for the market to bottom out will now run out and buy. Whats to say if i buy a house next year and get the interest relief , that the year after the market won;t keep in it’s decline for a few more years.

I don;t see how this is a good idea. Short term. Maybe, but it seems very short sighted to me.

If you want to be Stressed for the next 30 years buy a house. Its a seesaw
not a ladder.

Is this another kakhanded attempt by government to artificially inflate the property market? We know what happened last time gov. facilitated a false property boom. It appears this administration does not, or does not want to, acknowledge the mistakes that nurtured this economic crisis. In the last 5/6 years attempts by gov. to seemingly aid the mortgagees of this country has repeatedly profited banks and developers! To anyone considering buying as a result of this incentive I would advise to tread very carefully! I’ve a feeling this incentive will lead to another round of negative equity holders……….. Let the market find it’s own base.

3 more austere budgets on the way,euro in crisis,property taxes on the.Rents have a floor under them only because of rent relief.Veiwed a house in 08 price 280,000 same house now negiotable at 170,000 will pass on the details location etc to anyone that wants but the price is still high at that.What gives you the insight William that prices have bottomed out because i don’t see the evidence.

We should have learned by now that the property ladder is part of a game of snakes and ladders. Any assistance or incentives to enter a market, any kind of market, will lead to a distortion. Assistance provided by taxayers is grossly unfair. Why should a low waged tenant susidise someone elses capital purchase?

The housing market should be driven by affordability alone and it will then find it’s natural level. The same can be said for rent tax credits. It falsely enhances affordability and thus drives up rents.

Phase out all mortgage and rent susidies and let property find it’s natural level. The pain has and is being sufferred, lets make sure we get the gain.

Using the term “ladder” in the first place was a problem. Makes people think that if they don’t buy they are left behind….

Whats the worst that could happen?

Anyone that is considering buying a home for themselves should house prices have not bottomed out despite what so called experts say.They are bias and have a vested interest as does the Government.Also the future of the Euro is not secure and of it collapses house prices will suffer as an indirect result.If i was in the market again i would wait at least a year.Keep updating your info with your broker or bank in your have an offer of a mortgage but for your own sakes don’t be foolish to believe house prices how now levelled out.Look at the pedigree of whom is saying this and what were they saying 7 years ago.The old expression applies more than ever “Buyer Beware”.

Nowt wrong with renting!

Its not throwing away money on rent if it costs you several hundred thousand less to buy a house after a few years….

Property incentives have arguably stifled the economy historically by channelling funds into bricks and mortar rather than industrial investment. The conservatism of the banks was grounded in the safety of property investment. And we all know where that lead.

I can’t believe 49% of people voted yes. Helping / pressuring people onto the property ladder is what got us into this mess!!

Why is there such a set in this country against renting? Saying paying rent is like throwing away money I’d like saying putting petrol in your car is like throwing away money, it’s not…its a necessity!! If more people rented rather than bought during the boom there wouldn’t be so many in trouble now, this Irish tradition of “I must get on the property ladder has people blinded”.
Now the government are trying to inflate the market again by introducing this boost to mortgage interest relief for just 1 year to get people panic buying again when the sensible thing would be to let the market hit its natural low over the next few years then start all over again.

Barry O’Neill is spot on there, all this will do is keep prices artificially high – once the 2013 plug is put in, the problem will reappear, and then (if my calcs are right) the six billion guaranteed in mortgages – accounting for anything between 12-24,000 house, will be in another round of diminishing value. It is also handy that the mortgage relief ends ends in year 1-2 of the next (specified) government, which is just pushing the problem out.
The market needs to find its natural level or floor. Speculators will be attracted to this year of buying, and not necessarily those needing homes. It will be again (and no fault of theirs) an older generation who can afford to buy will buy, with investment in mind! This will also keep rents artificially high too, and at present they are trying to find a way on saving on rent relief, well one way is diminishing values means it is unacceptable to charge high rents – if rents drop less would be paid out.

Oh and another thing with all the scares regarding Balmayne, Priory hall, half empty estates, crumbling buildings etc – are many people going to want to buy celtic tiger built homes???? I can only see this helping property agents – who like leading financiers have a lot to answer for!

Noonan hopes to get ye all hooked up now before he brings in the Jumbo property tax next year just like our comrades in the UK/US.

one semi-related question – why would you answer a poll with “I don’t know?” Why not just simply abstain because, well, you don’t know??

Should people be helped onto the property ladder?
is a completely different question to
Do you think it’s a wise move to encourage new buyers onto the Irish property ladder?

What’s actually being asked here?

The only people who will benefit from this are the property speculators.they’ll buy cheap wit cheap money and then sit and wait till prices go up and sell off at a profit while ordinary working people will be told no by banks when lookin for a mortgage.and am I right in saying that the government will phase this relief out in two stages in the next 3 to 5 years anyway making it harder to get a mortgage forcing us to rent form the speculators at crazy rates and WHEN it goes bust again we’ll be forced to pick up the tab yet again.the problem is the money system itself and until that’s addressed we’ll only go from bust to boom again and again and again.

Irish examiner ’09 “EU survey provides further proof of our attachment to property with over three-quarters of Irish householders owning their own home compared with just 46% in Germany.

Read more: http://www.irishexaminer.com/ireland/snojauidau/rss2/#ixzz1fwsvJXRQ”

I wonder where does our obsession with owning our properties come from?

Property ladder my arse, it’s home buying that the Irish people are interested in, you buy a house rather than rent so that in your retirement you pay neither rent nor mortgage, it’s an investment in your pensionable income; not some stocks and shares, buy low sell high madness.
On the interest relief, the market is bottoming out, this year or next, and the interest relief will only exist for anyone buying in the next 12 months. It’s an attempt to show the floor, not put in an artificial one. The average 3 bed house should cost 3.5 times the average industrial wage plus a deposit( the old 2.5 of yours + 1 of hers plus a 10% deposit mortgage), which still is 38k, so around the 150k mark, which although not advertised at these prices is what they are selling for.

All Government intervention into the property market should end – that includes tax relief and incentives for both personal and commercial buyers. We need a natural property market and it hasn’t found its bottom.

What we also see is new legislation for the rental market that will give tenants security of tenure for long term leases. A fair system whether your a tenant or landlord. Right now you can have a long term rental but the landlord can give you a months notice claiming that a family member needs the property!

It’s also the government needs to do better and rid us of this upward rent review clause in the commercial sector.

Any ‘help’ given out by government has to be taken from you, me and all our brothers and sisters. I think it would be better if we were allowed to keep our own money, and take responsibility for how we spend it.

First time in my life I ever voted “don’t know”. Like more mortgage relief for those already on a mortgage but don’t want anymore getting sucked in on the con…

I’ve been renting for four years, that’s 24,000 paid in rent to date. I saw a house for auction in Donegal 2 weeks ago for 55,000……

During the boom Clowen and co’s answer to over priced houses was “that we musnt interfere in the market” Well in that case the same must apply on the way down. Eliminate all government incentives to buy and we’ll soon see what houses are really worth.

4 more years of this austerity shite.. unemployement and negative growth.. THEYRE GOING TO KEEP FALLING!

The only property ladder I have the opportunity to get on is the one outside the house I rent… I need to change a light bulb!

never understood the castle mentality here and in the uk where people have to own their own house. in the rest of europe everyone rents

It’s people on the ladder that need help!

People already on the property ladder need to be helped

I’m on the property ladder (bought in 2005) and yes my house is worth significantly less and yes I have put in a lot of money into it that I will never see again, even if I do manage to sell it. This is dead money – renting would have saved me thousands. However, I don’t see why the taxpayer, those with property and those without, should be subsidising me in my poor decision to buy close to the height. Many of us bought property during the boom but we all knew that this had to be repaid, we all knew that the value of property could change, it was spelled out to us getting the mortgage (granted, many things such as employment levels have changed) we were all adults and we knew what was going on
Leave the property market alone, let it find it’s natural low then let it recover at a natural pace. Yes I’ll be down many many thousands, but that’s something I have to deal with just like others buying at that time like me, they were overpriced anyway.
As for the term “property ladder” – a ladder with one rung, not many people taking a step up these days.

Would hate to be stuck with a mortgage, unless you’ve 100% or close to it job security then you could end up in a very tricky situation. Stuck with a huge mortgage and nowhere to go. At least with renting you can get out of it if you really need to. I would love to see longer term lettings come in, like in other countries where you can rent a house longer than a year. The problem for many families in Ireland with renting is that you want somewhere you can call home, you rent a lovely house beside some great schools where you want your kids to grow up in the area and then along comes the landlord a year or two later and he tells you he will no longer be leasing the property once your current lease expires. BAM..no properties for rent in the area and you have to up route the whole family again.

As a proud mortgage òwner…. There is no such thing as a property ladder … I bought my house in 1993 I love it , I am happy enough in it , it is home. As for being on the ‘property ladder’! No I am on the bottom rung… I remortgaged twice to get work carried out and I am fortunate that I am not in negative equity . I would always have said to any one that they should buy their own and be secure ha ha ! Not any more . Rent is the way to go til things improve :)

If you have the means to buy a house and don’t foresee yourself needing to move or emigrate buying might not be a bad idea next year. Negative equity is only an issue if you need to sell. Its all about a persons own unique circumstances. This is never a right or wrong issue. Do what’s best for you.

And have us pay their negative equity? Not a hope. But if we were to look to what we’ve inherited from Nama then exciting possibilities emerge in response not limited to first time buyers. Nama is ours, we either use it, or lose it.

Why do people feel the need to own a house? Why should I pay for them?

I’d consider it part of the economic recovery to enable people to actually invest in a future here. Renting means you are just throwing money away with nothing to show for it. If more people were able to buy there would be less plane loads of young Irish people buggering off to Australia or New Zealand.

A healthy economy needs a healthy banking system and functional property market – we have neither – and we won’t for the next decade. More austerity on the way – and a restructure/default inevitable in the next 5 years – we may have a period where- houses trade exclusively for cash- ( we are nearly there already) I predict house/appt prices will trade for 50% less than even current prices in the next few years

anyone who bought or will buy property want mortgage interest relief. those who didn’t don’t want other people benefiting from it. Rent a manger and put a dog in it.

totally agree @ silent. It depends what side of this issue you are on! Personally I believe property prices will rise – soon and then I will be one happy bunny.

Prices in Australia have started to reverse. Now there’s a place worth buying a house in.