Tommy Broughan (Dublin North East, Labour)

I thank the Minister of State for his reply. Was he disturbed by the report in this morning's edition of the Irish Independent, which indicated that at present, up to one eighth of first-time buyers take out 40-year mortgages? These mortgages are of an amazingly long duration and such people may pay up to €120,000 more for their houses. As the newspaper noted this morning, effectively, young buyers will end up renting their house for the entire term.

Second, does the Minister of State accept that amazingly, house prices are rising 3.5 times faster than one year ago and that the average price in Dublin is approaching €400,000? It stands at €385,000 at present. Does he agree this is a daunting prospect for young buyers and couples?

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