Affordability Index - An uncertain future ahead for buyers

Higher property prices and a looming increase in interest rates are among the unpalatable realities faced by homeowners and prospective buyers in the immediate future.

As existing owners face an average mortgage increase of €40 monthly because of the inevitable hike the

European Central Bank (ECB) will sanction this week — probably in the order of 0.25% — it was revealed yesterday just how heavy the burden is on first-time house buyers.