Some 15 per cent of cash purchasers in the residential housing market are first-time buyers, according to an analysis by estate agent Savills.
John McCartney, director of research at Savills, said this was due to purchasers “relying on the bank of mum and dad as they wouldn’t have the money for a deposit”.
He said cash buyers account for 47 per cent of all sales in the market, with 15 per cent of these being first-time buyers. The latter figure is drawn from an analysis of sales by Savills to cash buyers, mostly in Dublin.
Read the full details in the Irish Times
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