An Ennis based auctioneer says seven in every ten first time buyers in Clare approach banks with financial help from parents.
It follows a report this week from the Banking and Payments Federation which found the average deposit to buy a new home in the capital is 52,500 which is more than double what was needed less than a decade ago.
It’s reported a combination of social house construction and insufficient numbers of workers is driving up private house prices across the county.
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Douglas Hurley of DNG O’ Sullivan Hurley Auctioneers in Ennis says however that first time home buyers in Clare aren’t having to save as much as other areas with deposits of around 25,000 euro needed here to secure a property.
