One third of first-time buyers considering house purchase

WITH interest rates set to fall to their lowest level ever this week more than a third of first-time buyers say they are now considering buying a home.

The European Central Bank (ECB) is expected to cut rates by 0.5% on Thursday, meaning mortgages will be more affordable for prospective home-buyers.

A survey by Bank of Ireland said 38% of potential first-time buyers are considering buying a home in the next 18 months.