Noonan hopes Budget will encourage young people to buy homes

Noonan hopes Budget will encourage young people to buy homes

Minister for Finance Michael Noonan expects a lot of young people will ‘take the plunge’ and buy a new home, now that Budget 2016 has been unveiled.

Michael Noonan has said people have been waiting to see what moves would be made, and he is ‘very confident’ the budget will help drive supply in the market.

He also denied there was any fight between himself and the Environment Minister Alan Kelly over plans to help renters, and said they simply ran out of time on the package being prepared for the sector, with officials from both Departments expected to talk again next week.

Minister Noonan acknowledges there is no ‘quick fix’ for the housing sector, but measures he is bringing forward will help: “The problem is the builders are building 12 to 20 houses rather than the hundreds of houses we need,” Minister Noonan said.

“Now that there is a very confident Budget which puts money in people’s pockets, people were waiting for the Budget and I think a lot of young couples now will take the plunge and buy their own homes and that will drive supply.”

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