SINN FEIN CLAIM SHARED EQUITY SCHEME WILL DRIVE UP PRICES FOR CONSUMERS

Sinn Féin has called on the government to scrap the shared equity scheme that’s part of the Affordable Housing Bill as they fear it’ll push up property prices.

A similar scheme was established in England in 2013 and was supposed to be a short term solution but remains in place.

The ESRI and Central Bank are two groups who share concerns around the scheme which involves Government taking a 20% stake in a new build home, subject to regional price caps.

Enniscorthy TD Johnny Mythen says it’s a bad idea as developers will pass on the price to the consumer:

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