The catch 22 facing many would-be property purchasers, particularly in Dublin, is laid clear in a number of new reports today. It is now 42 per cent cheaper to buy a new home in the capital than it is to rent; but the deposit you’ll need to get that property continues to edge upwards making it less affordable to do so. It could perhaps, be why today’s figures for mortgage approvals show a drop in the number of first time buyers getting – or seeking – approval.

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