Paul Coghlan (Fine Gael) | Oireachtas source

I welcome the pronouncement of the Taoiseach regarding the deposit necessary for first-time buyers of new homes. A deposit of 10% was always the norm, as we know. The Central Bank's recent requirement of a 20% deposit is more than excessive given current practice throughout the country, of which I am aware, in the estate agent and auction trade. We have to try to make purchasing a house attainable for young people. The ratio of salary or income to the value of a property has varied. A deposit of 10% was sacrosanct and we will return to that with the aid of an insurance-based scheme, the details of which we have not received. I welcome it for the sake of our younger people who are hoping to get on the property ladder and acquire new homes. It is important that we welcome the measure. When we get more details we can discuss it further.