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.”
16th January 2017
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