It’s estimated first-time buyers used gifts to the tune of €150 million to help get deposits together.
That’s according to figures for the first half of the year from the Banking and Payments Federation.
42% of first-time buyers used gifts as part of their deposits during the first six months of the year - compared with almost a quarter of mover purchasers.
The median deposit for people buying their first home was over €52,000.
Catriona, who moved abroad to help save for a house, says it’s obscene;
"It's really not surprising to hear about the gifts. I am shocked to hear the median is gone up to €52,000.
"That's an obscene amount of money for a young couple to be able to save together while paying for rent."
Carol Tallon, CEO of Property District, says parents are sometimes having to get loans themselves to help out;
"We're fully aware of parents going to their Credit Union or their bank and accessing loans in the expectation that their adult sons and daughters will be paying those loans."
Trevor Grant from the Association of Irish Mortgage Advisors expects an increase in house building to help supply and rising prices;
"So as more housing comes on stream, we will hopefully see some leveling and in some cases a reduction of house prices."
The Monitor shows nearly 27,000 units were commenced in the ten-month period to October.
