First-time buyers priced out of housing market

FIRST-TIME house buyers are being priced out of the market, according to Department of Environment housing statistics.

The department’s figures show the first-time buyer’s grant was paid to just one in five homeowners last year, compared to one in four in 1997.

While more houses are being built now than five years ago - 52,602 compared to 38,842 - first-time buyers are finding it harder to get into the market. In 1997, 27% of houses were bought by first time buyers, compared to just 19.5% last year.