IMF warns first-time buyers’ grant will push up house prices

The International Monetary Fund has warned that the government’s flagship first-time buyers’ grant could lead to further upward pressure on house prices. The help-to-buy scheme, which was launched last month and gives buyers up to €20,000 off the price of a new home, may actually do little to increase the supply of housing, the fund said in its latest report on Ireland.

“While temporary and relatively limited, the programme provides only indirect support ...