First-time buyers relying on parents 'digging very deep' to help them buy a home

Prices in Cork and Kerry (up 8.2%) are also rising at a faster rate than those in Dublin (up 6.9%), with the cost of buying a home now almost 20% higher than the Celtic Tiger peak.

First-time buyers are relying on parents “digging very deep” to help them purchase a home, as new statistics show the median price of a home in Ireland has risen by €35,000 in the last year.

The Central Statistics Office’s (CSO) latest Property Price Index for May showed property prices in Ireland rose 7.9% in the last year, as inflation continues at a relentless pace in a market starved of the supply it needs to meet demand.