There will be a “dramatic fall off” in first-time buyers entering the market next year if the Help-to-Buy scheme is not extended.
That was the stark warning from the head of credit at MyMortgages.ie, Joe Sheahan, who was responding to the latest Central Statistics Office (CSO) figures on house prices.
While house prices continue to ease with the annual rate of increase in May now the lowest in six years, prices increased by 2.8% nationally in the year to May, compared to a 3% increase in the year to April.
