House price increases set to overtake grant offered by Help-to-Buy Scheme

The average price paid for residential property increased by €18,954 in the last 12 months, according to the latest Property Price Register.

The rising cost of buying a home has effectively almost wiped out the benefits of the Government’s Help-to-Buy Scheme, which gives first-time buyers up to €20,000 towards the cost of a property.

The average price paid for a house or apartment nationwide is now €256,193 – an increase of 8% when compared to the same time last year, but well short of the numbers though necessary to meet housing needs.

The amount of new properties sold in the first half of this year has increased by 17.6% to 3,129.

Prices are rising in all counties, with Sligo recording a 37% increase when the same period in 2016.

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