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08/10/2007

Charity Says Home Buyers Being Overcharged

A housing charity has revealed that builders are overcharging home buyers and inflating house prices.

Respond has also accused wealthy property developers of unacceptable profiteering from inflated house prices, and said builders are pocketing around €170,000 in profit from average house sales in Ireland.

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The average price for a new house on the open market is €300,000, however Respond said they can provide the same type of house to low-income families for €160,000.

A conference is being held by the housing charity in Dublin this week to examine the situation and come up with solutions to deliver better value for money for families and young couples.

(JM)

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