Question on Fine Gael Stamp Duty policy

[KalEl]

We’re talking 100s of millions here when it comes to SD or hospital beds and that money has to come from somewhere. The government (whoever is in power) can’t just go filling election promises on a whim without looking at saving somewhere else. This country has to be run on a budget much like most households so a spending spree now without proper planning or just because it would be the populous thing to do might be detrimental to us all in the long run.

Again I'd say you're not comparing like with like.
It's relatively easy for a party to promise a couple of thousand hospital beds and then not deliver...they could blame a downturn in the economy, union intransigence or just massage the figures.
The Stamp duty issue is different...the parties are promising immediate change implemented before the Dail goes into recess for the summer.
That's in a matter of weeks.

 

[ice]

I have emailed the fine gael office and they have confirmed that stamp duty would only be payable on the amount over 450,000.

So you think we could be looking at end June / early July for a movement on SD ?

 

[KalEl]

I have emailed the fine gael office and they have confirmed that stamp duty would only be payable on the amount over 450,000.

So you think we could be looking at end June / early July for a movement on SD ?

Well, the Dail goes into recess at the end of June and they're all talking about immediate implementation so yes I do.

 

[gebbel]

Seriously though, you can see why this is stagnating the property market...why buy now when in a matter of weeks you should save thousands no matter what type of buyer you are.

I agree to a point. Property prices are levelling off for sure, but good properties in desirable locations will not see much, if any of a price reduction.

 

[KalEl]

I agree to a point. Property prices are levelling off for sure, but good properties in desirable locations will not see much, if any of a price reduction.

It's just hard to see why someone would buy a house today when by waiting a matter of weeks they could save tens of thousands depending on their circumstances.

 

[micmclo]

It's just hard to see why someone would buy a house today when by waiting a matter of weeks they could save tens of thousands depending on their circumstances.

But will they save thousands? What if sellers just up their prices by the amount of stamp duty that was cut.

This seems to me to be a transfer of money from the exchequer to property owners.

 

[Tom189]

I had a look at the Fine Gael website and there is an article with information relating to a speech by Richard Bruton recently, and the stamp duty changes he propesed included...

No stamp duty on the first €100,000 for families moving home, just 3% for the next €350,000, and 9% for the excess over €450,000.


...the 3 % for the middle band seems to contradict the 5% which was talked about earlier in this thread. Can anybody clarify, is it 3% or 5%?? I would presume it is 5.

 

[DeBarr]

But will they save thousands? What if sellers just up their prices by the amount of stamp duty that was cut.

From a vendors perspective, I have a friend who is selling a house at the moment and she said she is now waiting to see what happens with SD before committing to sell. She has had a good few viewings on the house and received an offer at the end of last week slightly below asking (which she had reduced slightly) but has climbed onto the fence with all the potential buyers out there and has decided to defer a decision to accept. On this basis it is probably fair to say that a number of vendors (unless they are under serious pressure) have joined buyers on the fence - not all vendors are desperate to sell. She doesn't feel greedy but just wants to get the best price for her house according to the prevailing market conditions.

The FF manifesto is out on Thursday I think so you should know what all parties are proposing by then. I'm sure the media will run a comparison of all proposals....