Housing Affordability Gap Makes Home Ownership Almost Impossible

January 16, 2017

The Social Democrats have said the latest Residential Property Price data released this morning by the CSO shows just how hard it is for first-time buyers to buy a home.

The table below sets out the average house price across 9 separate towns, cities or districts in the country, and sets this against the level of deposit and income a first-time buyer would require under Central Bank rules.

Social Democrats T.D. Róisín Shortall said: 

“In Dublin 9, in my own constituency, the average house price is now €357,974. In order to afford such a property, a first-time buyer would require a deposit of almost €36,000 and an income of €92,000″.

“These figures highlight the massive affordability gap for people trying to buy their own home. It is virtually impossible for a single income household to buy an average home. Failure to ensure housing affordability represents the biggest failing of the current and previous Government, and has major implications for the cost-base of the whole economy, as well as people’s ability to start a family.”

  • Average House Price by area, and deposit and income required for FTB
Average PriceDepositIncome
  • Ashbourne
2452382452463061
  • Naas
2668242668268612
  • Greystones
39878439878102544
  • Cork Southside
2652852652968216
  • Galway
2148992149055260
  • Dublin 6
70783070783182013
  • Dublin 7
2821492821572553
  • Dublin 8
2701442701469466
  • Dublin 9
3579743579792050
  •  Source: CSO Residential Property Prices, November 2016 (published 16.01.17)

16th January 2017

For further information please contact:
Anne-Marie McNally
01-618 3591 / 086-3754315
[email protected]
@amomcnally