First-time home buyers young but more cautious

RISING mortgages and a slowdown in house sales fail to deter some young home buyers from jumping onto the property ladder, while the latest figures show 29 is the average age for entry into the property market.

That is consistent with figures from four years ago, according to research released by the Irish Mortgage Corporation (IMC).

The majority of first-time buyers are still aged 25 to 29 years of age, accounting for 46.5%, according to the IMC. This is up 3% on the same period last year.