The government has spent ?10? million on first time buyers homes in the last three years.

The money has helped 367 people get on the property ladder.

The figure was revealed in a question asked by Eddie Lowey MLC (pictured) in this week's sitting of the Legislative Council.

Kate Skinner reports:

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In his response Local Government Minister John Shimmin said it was difficult to determine the full financial assistance given in terms of grants and top-up loans, as each purchaser receives a different level of help and their future progress in the housing market differs.

However, in giving his answer he explained that top-up loans for new 'approved' dwellings are paid back at one per cent below base rate and the capital AND interest will have to repaid within 25 years.

The maximum grant is ?25,000, which is awarded for both approved dwellings and open market properties, and 20% is written off every five years over a 25 year period.