Homebuyers forced to borrow more than ever as Government plans to boost supply

Figures highlight impact of housing crisis on young people

House prices have been rising. Stock photo: Getty

Charlie Weston and Tabitha Monahan

Surging property prices are forcing first-time buyers to borrow vastly more money.

New figures from the banks show one in three of the homes bought by new buyers last year were valued at more than €400,000.