Woah first time I’ve been above average in my life
Bought at 33 too
>Buyers with a mortgage had a median age of 37 compared with 47 for those who purchased without a mortgage.
>And the typical income of a home purchaser has risen by almost 50 per cent since 2012, the CSO study said. The median or middle income of property buyers here (single individuals or couples) rose from €48,600 in 2012 to €71,300 by 2021, an increase of 46.6 per cent.
>During the same period, the average income in the State rose by just 25 per cent (from €36,079 to around €44,955), highlighting the strain on housing affordability.
Because fuck young families and children, it’s not like the state needs a steady stream of people to fulfil future demands for an ageing population or anything. We can just import an underclass and treat them like shit to do it instead. What a wonderful vision of our future.
The only way (for that number to go) is up!
I think my parents were about 26 when they bought theirs
37 and trying to get a mortgage for my first home. Some banks won’t give me the full amount as I don’t have a pension. After factoring in inflation, saving for a house, insurance, etc I don’t have money to put into a pension.
Edit: for more context, all the mortgages I’ve applied for end before pension age and I’ll be paying a higher amount.
PTSB said because I have no pension they can only give 30k less than the AIP. Even though they were fully aware of all my financials upfront.
Still waiting to hear from BOI which are taking an eternity to respond.
My folks had bought and sold about 4 homes at that age. My aul fella said he’d be the last generation to be able to bounce around. People these days are just gonna have to make do with whatever house they manage to buy.
How is this sustainable at all?
And in five years time, it will be 44.
Every time they do studies like this, it just gets dragged up.
I’m in this bracket. We met a broker last month and he was suggesting a 30-year mortgage. When I said I didn’t want to be paying a mortgage when 70 he told me that it’s normal enough now and because I have a pension (a fairly basic one) I can use that to pay the mortgage at the time. It was a grim enough prospect. We’re still going to try and get a 25 year one, we just will have to buy a home that is likely smaller than we need or get one that’s the right size but further away from our families and likely in another county.
Sounds healthy for our future demographics…
I want to own a house in the future, not because I want to own the property, I just don’t want to be fucked out whenever the owner feels like they’ve had enough of me.
Won’t be doing it here anyways, I already have my eyes on Australia with a company keeping tabs on me for when I graduate.
39 and a 25 year mortgage. So you’ll just about own the house as you retire. Oh wait retirement will be at 80 by then.
im single, 40. i would love to pay 700 quid or 1000 mortgage instead of fkn rent. but there isnt even a property for a single person to buy…
My wife’s 30 and I’m mid thirties . First time we’re on the road to a mortgage now. I’d say 12 months we should be good for deposits . But what’s this people are saying about having pensions for mortgages ?? Never heard that before
Which then affects the birth rate.
37 here with 17 years left on the mortgage. I count my blessings everyday
I know plenty of people around my age who have bought in the last number of years.
People I went to college with. The price they bought their house at is way way lower than what it will be if I buy the same. In fact, I’m priced out of the locations they bought in.
Their mortgage will be lower, but they’re still participating in the same labour market so also get higher wages.
Some even bought a 2 year old Merc.
This is why people are wrong when they say the price you at doesn’t matter. It does. Salaries go up due to cost of living (housing etc.) but their mortgage is relatively low so their wages so further.
Excuse my ignorance ,,but what’s the difference between saving every week and having a pension?
This is unsustainable. This country needs a big shock.
Not a day goes by that I don’t count my blessings that I was able to buy in 2019 when I was 32. I could just as easily be in the same situation now as many others if I hadn’t.
So in summary we are 20 years away from an elderly housing crisis where a generation of people retire with no secure home and likley little to no pension income if other surveys are to be believed, and only 10 years away from the start of this problem in a big way.
That gives me 8 months
I work for a bank and never heard of the pension requirement, but I guess it makes sense in a way given 30-35 year mortgages, and the age people are getting mortgages. That’s why it’s important to have a pension. I’m lucky I got my mortgage through the Rebuilding Ireland scheme, very lucky indeed. But there does need to be massive protests ( a la France) on housing. Poor housing provision and lack of affordable housing is causing enormous stress and mental illness and physical stress on people. There are ideas out there to resolve this issue but there doesn’t appear to be any appetite from the government to really do something about it. We all know that the government are in the pockets of the landlords and vulture funds…. Until there is civil unrest about housing there is no incentive for the government to change course.
I assume this is all buyers, not FTBs? (Paywall) if so, it includes elderly people downsizing etc. and the average age of FTBs is probably closer to 30.
Dozens of comments from people conflating “home buyers” with first time buyers. These figures include people moving homes, buying second homes, buying rental properties etc.
The median first time buyer is around 34 years old and increasing.
Before the financial crash I think it was less than 30. I remember before I left Ireland in 2016 there was news about it rising from 31 to 33. In 7 years it has gone up another 6. That’s absolute insanity. That means the average person under the age of 38 has never been the age of a typical buyer, and that age looks set to rise further.
This is absolute fucking insanity in an island so sparsely populated.
Jesus Christ. I’m v thankful I managed to grab one at 26, got very lucky for where I wanted to buy. God help anyone looking to buy within the pale.
You know, the older I get, the more I think that those guys throwing whatever spare money they have at the end of every week at crypto hoping to hit the jackpot aren’t that crazy.
Do everything right and buy a house at 39, man. Fuck me.
I’m almost 35 single fairly decent wage and deposit ready and I’m actually terrified to apply cause I know I’ll get piss all for the mortgage they offer me
I’ve a few friends my age (30-35) trying to buy and getting nowhere. Good jobs, regular savings, have done everything right but keep getting massively outbid.
If you want to start a family, this is a nightmare. Renting is precarious enough without adding a baby to the mix and nobody really wants to do it while living with parents.
30 comments
Woah first time I’ve been above average in my life
Bought at 33 too
>Buyers with a mortgage had a median age of 37 compared with 47 for those who purchased without a mortgage.
>And the typical income of a home purchaser has risen by almost 50 per cent since 2012, the CSO study said. The median or middle income of property buyers here (single individuals or couples) rose from €48,600 in 2012 to €71,300 by 2021, an increase of 46.6 per cent.
>During the same period, the average income in the State rose by just 25 per cent (from €36,079 to around €44,955), highlighting the strain on housing affordability.
Because fuck young families and children, it’s not like the state needs a steady stream of people to fulfil future demands for an ageing population or anything. We can just import an underclass and treat them like shit to do it instead. What a wonderful vision of our future.
The only way (for that number to go) is up!
I think my parents were about 26 when they bought theirs
37 and trying to get a mortgage for my first home. Some banks won’t give me the full amount as I don’t have a pension. After factoring in inflation, saving for a house, insurance, etc I don’t have money to put into a pension.
Edit: for more context, all the mortgages I’ve applied for end before pension age and I’ll be paying a higher amount.
PTSB said because I have no pension they can only give 30k less than the AIP. Even though they were fully aware of all my financials upfront.
Still waiting to hear from BOI which are taking an eternity to respond.
My folks had bought and sold about 4 homes at that age. My aul fella said he’d be the last generation to be able to bounce around. People these days are just gonna have to make do with whatever house they manage to buy.
How is this sustainable at all?
And in five years time, it will be 44.
Every time they do studies like this, it just gets dragged up.
I’m in this bracket. We met a broker last month and he was suggesting a 30-year mortgage. When I said I didn’t want to be paying a mortgage when 70 he told me that it’s normal enough now and because I have a pension (a fairly basic one) I can use that to pay the mortgage at the time. It was a grim enough prospect. We’re still going to try and get a 25 year one, we just will have to buy a home that is likely smaller than we need or get one that’s the right size but further away from our families and likely in another county.
Sounds healthy for our future demographics…
I want to own a house in the future, not because I want to own the property, I just don’t want to be fucked out whenever the owner feels like they’ve had enough of me.
Won’t be doing it here anyways, I already have my eyes on Australia with a company keeping tabs on me for when I graduate.
39 and a 25 year mortgage. So you’ll just about own the house as you retire. Oh wait retirement will be at 80 by then.
im single, 40. i would love to pay 700 quid or 1000 mortgage instead of fkn rent. but there isnt even a property for a single person to buy…
My wife’s 30 and I’m mid thirties . First time we’re on the road to a mortgage now. I’d say 12 months we should be good for deposits . But what’s this people are saying about having pensions for mortgages ?? Never heard that before
Which then affects the birth rate.
37 here with 17 years left on the mortgage. I count my blessings everyday
I know plenty of people around my age who have bought in the last number of years.
People I went to college with. The price they bought their house at is way way lower than what it will be if I buy the same. In fact, I’m priced out of the locations they bought in.
Their mortgage will be lower, but they’re still participating in the same labour market so also get higher wages.
Some even bought a 2 year old Merc.
This is why people are wrong when they say the price you at doesn’t matter. It does. Salaries go up due to cost of living (housing etc.) but their mortgage is relatively low so their wages so further.
Excuse my ignorance ,,but what’s the difference between saving every week and having a pension?
This is unsustainable. This country needs a big shock.
Not a day goes by that I don’t count my blessings that I was able to buy in 2019 when I was 32. I could just as easily be in the same situation now as many others if I hadn’t.
So in summary we are 20 years away from an elderly housing crisis where a generation of people retire with no secure home and likley little to no pension income if other surveys are to be believed, and only 10 years away from the start of this problem in a big way.
That gives me 8 months
I work for a bank and never heard of the pension requirement, but I guess it makes sense in a way given 30-35 year mortgages, and the age people are getting mortgages. That’s why it’s important to have a pension. I’m lucky I got my mortgage through the Rebuilding Ireland scheme, very lucky indeed. But there does need to be massive protests ( a la France) on housing. Poor housing provision and lack of affordable housing is causing enormous stress and mental illness and physical stress on people. There are ideas out there to resolve this issue but there doesn’t appear to be any appetite from the government to really do something about it. We all know that the government are in the pockets of the landlords and vulture funds…. Until there is civil unrest about housing there is no incentive for the government to change course.
I assume this is all buyers, not FTBs? (Paywall) if so, it includes elderly people downsizing etc. and the average age of FTBs is probably closer to 30.
Dozens of comments from people conflating “home buyers” with first time buyers. These figures include people moving homes, buying second homes, buying rental properties etc.
The median first time buyer is around 34 years old and increasing.
Before the financial crash I think it was less than 30. I remember before I left Ireland in 2016 there was news about it rising from 31 to 33. In 7 years it has gone up another 6. That’s absolute insanity. That means the average person under the age of 38 has never been the age of a typical buyer, and that age looks set to rise further.
This is absolute fucking insanity in an island so sparsely populated.
Jesus Christ. I’m v thankful I managed to grab one at 26, got very lucky for where I wanted to buy. God help anyone looking to buy within the pale.
You know, the older I get, the more I think that those guys throwing whatever spare money they have at the end of every week at crypto hoping to hit the jackpot aren’t that crazy.
Do everything right and buy a house at 39, man. Fuck me.
I’m almost 35 single fairly decent wage and deposit ready and I’m actually terrified to apply cause I know I’ll get piss all for the mortgage they offer me
I’ve a few friends my age (30-35) trying to buy and getting nowhere. Good jobs, regular savings, have done everything right but keep getting massively outbid.
If you want to start a family, this is a nightmare. Renting is precarious enough without adding a baby to the mix and nobody really wants to do it while living with parents.