Daft.ie says there was a 7 per cent rise in searches for properties in the lower tier up to 250,000 euro

First-time buyers are already showing a strong interest in the government-backed mortgage scheme, which launched yesterday.

The plans allow those turned down by the bank to be granted a mortgage from local authorities.

According to Daft.ie, there was a 7 per cent rise in searches for properties in the lower tier up to 250,000 euro, which is in place for 19 counties.

Martin Clancy from Daft-dot-ie explains what the demand is like for the higher tier: