Average first-time buyers spend €250,000

AVERAGE house prices for first-time buyers are set to break the €250,000 barrier for the first time as the property market shows no sign of weakening.

The latest analysis of the housing market has more bad news for first-time buyers the cost of housing is rising twice as fast for them as for second-time buyers.

The new monthly edition of the PermanentTSB/ESRI house price index shows that the average price of a home for first-time buyers is now almost €250,000.