Figures from the Banking & Payment Federation show that between January and September ‘18, 13,593 mortgages valued at €2,958 million were drawn down by first-time buyers. Some of them observed that the overall increase in first-time buyer activity is also being driven by the increase in rent prices. In Carrigaline, auctioneer Dan Howard estimates that he has sold around 40 new houses to first-time buyers in the Astra Construction Janeville development, an 800 house development which started last year. The majority of his sales to first-time buyers are of new houses, he says that those who can’t afford new houses are buying second hand, typically spending between €270,000 and €290,000, Mr Howard has observed a very noticeable difference in the age profile of first-time buyers since the recession. Sherry FitzGerald Limerick has two new developments in Castletroy, where according to Ailbhe O’Malley, three-bed semis for €280,000 are proving popular with first-time buyers.

Source: Irish Examiner January 05, 2019 00:00 UTC