CIF suggests seven measures to boost house building
The Construction Industry Federation is suggesting a number of measures to boost housing supply.
There is a shortage in particular in Dublin and its commuter counties.
The CIF says around 10,000 new houses will be built nationally this year, but 25,000 are needed to meet demand.
It says the seven measures it is recommending could see 20,000 built a year by 2016.
The seven steps proposed by the CIF are:
1. Create incentives for new home purchasers such as a property tax rebate, a partial rebate of the development levies paid to developers and additional tax allowances for first time buyers.
2. Replace Part V with a 1% levy across the sales of all housing - new and old.
3. Introduce a temporary 9% VAT rate for residential construction.
4. Create a special development finance fund.
5. Establish a 'Help to Buy' scheme
6. Create a tax incentivised special savings scheme.
7. Restore full interest relief for investment in residential property for letting purposes.
