In Cork major new developments in the likes of Midleton, Cobh and Carrigtohill on the east side of the city were very popular for first-time buyers in the last 12 months.

On the north of the city, Watergrasshill and Rathcormac have become new hubs.

Looking into the future, Fermoy, which is about to be bypassed, will soon see a lot of development. Plans to develop a commuter rail service from Mallow to Midleton will also increase interest in both areas.

Even small outlying villages, such as Ballygarvan and Tallow, have also seen development.

Three-bed semis are standard fare for first-time buyers in Cork, according to Malcolm Tyrrell from Cohalan Downing.

However, of late new developments are now offering first-time buyers a choice of apartments and duplexes as well as traditional houses.

A two-bed apartment in the Castlelake development in Carrigtohill, a 10-minute drive from the city, costs €175,000 while a four-bed semi costs €247,500.

A three-bed semi in the new development in Thornfield Bandon will cost €220,000.

He estimates that first-time buyers represent between 60 to 70 per cent of the property market in Cork. They are typically people in their 20s who have faith in the jobs market and are borrowing the maximum, he said. A certain proportion of those are being helped out by their parents, he added.

In the west Cork area, prices for first-time buyers range between €250,000 and €320,000, according to John Loughnan of Sherry FitzGerald O'Neill in Clonakilty.

In the region of 20 per cent of the market are first-time buyers, usually couples in their mid to late 20s who have secured 92 per cent mortgages to purchase family homes, he said.