€308m levy axe 'won't guarantee cheaper housing'

Dail warning over intervention to boost supply & save €12k per home

- LOUISE BURNE

THERE is no guarantee that the scrapping of development levies will reduce the cost of houses for buyers, the Dail has heard.

This is despite the Government intervention which will cost the State €308million - saving up to the value of €12,650 per home on average.

The Government unveiled new measures worth nearly €1billion following yesterday's Cabinet meeting - that it hopes will accelerate the pace of building.

This includes scrapping the development levies required to connect new homes with roads, water and other services and increasing the Vacant Property Refurbishment Grant from €30,000 to €50k for vacant properties and from €50k to €70k for derelict properties.

The Irish Mirror understands it is taking between nine and 10 months for these grants to be drawn down.