Fianna Fáil Seeks Reintroduction of Stamp Duty Relief for First-Time Buyers

Fianna Fáil housing spokesperson Séamus McGrath has urged the Taoiseach to consider reintroducing stamp duty relief for first-time buyers. McGrath, during Leaders’ Questions, argued that levying stamp duty is «deeply unfair» and «totally inconsistent» with existing government supports, given the «enormous difficulties» first-time buyers face and rising house prices.

Stamp duty applies at 1% on the first €1 million of a home’s purchase price, rising to 2% from €1 million to €1.5 million, and 6% thereafter. McGrath noted that first-time buyers were exempt before December 8, 2010, and in 2024, an estimated €60 million in stamp duty is collected from them. He proposed reintroducing relief up to a certain property value, aligning with previous policies.

McGrath asked the Taoiseach to discuss this proposal with Cabinet, Tánaiste, and Finance Minister Simon Harris. The Taoiseach responded that the government would «engage on this at government level, give consideration to that, along with other supports for first-time buyers,» acknowledging the motivation to enable young people to buy homes and affordability as a key factor.