Budget does a little to lift market bluesThough Finance Minister Brian Cowen declined to deal with the punitive stamp duty levels in yesterday's Budget, the issue is not likely to go away and the odds are now that it will become an election issue next summer.

While no-one expected that stamp duty would be radically reduced, it was thought that some adjustments would have been made in the bands, and many buyers had held off signing contracts in the hope of paying less duty. Stamp duty had become so contentious in the last few weeks that estate agents had virtually hung up their keys for the season. Michael McDowell's intervention was expected to lead to some reductions, but it was not to be. Good news, however, for first-time mortgage holders who will see their mortgage interest relief double - which will go some way to counteract rising interest rates. The minister was blunt in saying that, if he had reduced stamp duty at the lower end, it would have ended up in the pockets of the seller and the builder, as happened in the past. The enhanced mortgage relief will boost the new homes market, where an oversupply seems inevitable in several suburbs as well as in many provincial towns. It will also have an effect on the second-hand market where the same mortgage interest relief will be available. That may be crucial to the bottom end of the market, which has not performed strongly, particularly outside the city. All in all, it's a damp squib after all the hype. For the agents it's back to business, but they have lunches rather than launches on their minds.

Spa treatments for D6 sellers

With the whole country gone mad for spa treatments it was only a matter of time before estate agents got in on the act. Gunne is the first agency to offer punters a day of pampering at no less than the Four Seasons in Ballsbridge. All you have to do is to give them your house to sell before January 31st. The offer only applies to those with houses in swanky Dublin 6, where Gunne is due to open a new branch next week. Free valuations and market consultations are also being offered by new branch manager Clodagh Murphy as the company seeks a foothold in the wildly competitive but very lucrative neighbourhood.

Myhome.ie to broaden ad base

There was a packed banking hall in Dublin's Westin hotel yesterday morning when entrepreneur Jim Miley brought the business community up-to-date on the recent acquisition of Myhome.ie by The Irish Times. The 2001 start-up attracts up to a million hits a month, and is one of the busiest sites in the country. The Chamber of Commerce breakfast was told that 63 per cent of those using the site are women, not surprising given that the decision to buy a property is frequently made by madam. There are plans to broaden the site's advertising base so don't be surprised to see shoes, handbags and spa treatments getting the banner treatment.

Council warms to sustainability

Dún Laoghaire-Rathdown County Council look set to make sustainable building mandatory across the county by early next year. The council plans to amend the county development plan so that schemes with 10 units or more and all new large commercial buildings must cut CO2 emissions from heating, hot water, cooling and lighting by 60 per cent. It will also insist that at least 30 per cent of hot water and heating come from renewable energy. This follows Fingal County Council's introduction of more stringent measures in the last 14 months (endorsed by Minister Dick Roche and developers like Manor Park who, as a result, are apparently building several hundred eco homes in the area). Fingal's policy, which also requires that all buildings use 60 per cent less energy for heating and hot water, is felt by industry experts to have more benefits for homeowners as well as the environment. Claims that the new procedures add only 5-6 per cent to the building costs may be queried by developers, who traditionally have not been at the forefront of the sustainable energy drive. But changes are inevitable and, if the new system works, builders will inevitably fall into line and offer ever improving systems. Look at the way the en suite bathrooms caught on, not to mention the latest big thing in new homes, the plasma screen in the bathroom.