But it also means there are fewer smaller second-hand homes suitable for first-time buyers coming on the market. These smaller homes can also be attractive for those wishing to trade down. The BPFI figures show that mortgage drawdowns for people buying second-hand homes are also on the decline, with the mortgage market dominated by first-time buyers. With younger couples choosing to invest and older people seeing limited options to trade down, there is a vicious circle in the second-hand market. The most serious downstream consequence is the ongoing lack of supply for first-time buyers.

Source: The Irish Times March 14, 2026 07:32 UTC