Government intervention and impact on the housing market in Greater Dublin

J Berry, S McGreal, S Stevenson, J Young

Research output: Contribution to journalArticle

13 Citations (Scopus)

Abstract

This paper examines the conflicting outcomes of government intervention in the housing market with particular reference to taxation instruments. The use of fiscal policy as a demand-side measure within the Irish housing market is discussed. Outcomes include a high growth environment, unsustainable house price inflation and pressure on owner occupiers due to the activities of investors. The paper reviews policy mechanisms advocated under the Bacon Reports and the government's policy response notably in relation to stamp duty changes. The analysis seeks to assess the impact of the policy measures in relation to different housing markets and house types in Dublin. The discussion highlights that the short-term impact of legislative changes can be rapidly nullified by market influences.
LanguageEnglish
Pages755-769
JournalHousing Studies
Volume16
Issue number6
Publication statusPublished - Nov 2001

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Government intervention
Housing market
Inflation
Government policy
Fiscal policy
Owners
Policy responses
House prices
Policy measures
Taxation
Investors

Cite this

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Government intervention and impact on the housing market in Greater Dublin. / Berry, J; McGreal, S; Stevenson, S; Young, J.

In: Housing Studies, Vol. 16, No. 6, 11.2001, p. 755-769.

Research output: Contribution to journalArticle

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AB - This paper examines the conflicting outcomes of government intervention in the housing market with particular reference to taxation instruments. The use of fiscal policy as a demand-side measure within the Irish housing market is discussed. Outcomes include a high growth environment, unsustainable house price inflation and pressure on owner occupiers due to the activities of investors. The paper reviews policy mechanisms advocated under the Bacon Reports and the government's policy response notably in relation to stamp duty changes. The analysis seeks to assess the impact of the policy measures in relation to different housing markets and house types in Dublin. The discussion highlights that the short-term impact of legislative changes can be rapidly nullified by market influences.

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