The Irish government’s new affordable housing scheme will just prop up existing high property prices, according to experts.
Lorcan Sirr, a housing lecturer at Dublin Institute of Technology, said the new shared equity scheme, whereby the state will take a stake in a person’s home to reduce the size of the mortgage, will do nothing to provide more affordable homes.
Meanwhile James Benson, a director at the Irish Home Builders Association, said he did not expect the scheme to have an impact, either positive or negative, on property prices.
