{"id":85905,"date":"2025-09-26T02:10:09","date_gmt":"2025-09-26T02:10:09","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/85905\/"},"modified":"2025-09-26T02:10:09","modified_gmt":"2025-09-26T02:10:09","slug":"median-income-of-homebuyers-almost-60-more-than-the-average-wage-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/85905\/","title":{"rendered":"Median income of homebuyers almost 60% more than the average wage \u2013 The Irish Times"},"content":{"rendered":"

The median income of a person who bought a home<\/a> last year was \u20ac84,400, almost 60 per cent more than the average wage, new data from the Central Statistics Office<\/a> shows.<\/p>\n

The data shows the figure has been rising steadily in recent years, up from \u20ac80,100 in 2023 and \u20ac75,600 in 2022.<\/p>\n

Donal Magee, senior underwriter with Nua Money, said the gap between the median income of purchasers and the average wage \u201cunderlines the significant affordability gap that continues to confront buyers in today\u2019s market\u201d.<\/p>\n

\u201cFor many households, purchasing a home still requires incomes well above the national average, showing just how stretched affordability has become despite strong labour market conditions,\u201d he said.<\/p>\n

\u201cEven as median property prices rise and average mortgage drawdowns reach record levels, those who are able to access a mortgage are, in the main, entering into it in a sustainable way. <\/p>\n

\u201cStrong repayment histories, together with regulatory safeguards such as the four times income cap, mean that most borrowers are not overstretching themselves. This balance has been key to maintaining stability despite tight supply.\u201d<\/p>\n

[\u00a0Housing targets unlikely to be met as commencements slow, ESRI warnsOpens in new window<\/a>\u00a0]<\/p>\n

Just over 60 per cent of residential properties were purchased jointly, underscoring the affordability challenges in the market.<\/p>\n

Mr Magee said the number of joint purchasers highlights \u201chow difficult it has become for single applicants to get a foothold in the market\u201d. <\/p>\n

\u201cThe report shows that the median income for sole purchasers is \u20ac55,100 compared to \u20ac101,200 for joint purchasers,\u201d he said. \u201cThis gap shows why buying alone is increasingly out of reach, particularly with limited supply and sustained price inflation.<\/p>\n

\"\"The NFL comes to Dublin: How it became the richest sports league in the world<\/p>\n

\u201cFor many existing homeowners, higher house values have created opportunities. Lower loan-to-value ratios mean tens of thousands could potentially switch to better rates or release equity, but many remain unaware of these options.\u201d<\/p>\n

D\u00fan Laoghaire-Rathdown had the highest joint purchaser income in 2024 at \u20ac157,100, while the lowest was Monaghan, at \u20ac77,900.<\/p>\n

Longford was the county with the lowest median purchase price in 2024, at \u20ac182,200, while D\u00fan Laoghaire-Rathdown had the highest median price, at \u20ac660,000.<\/p>\n

Sligo was the county with the biggest annual percentage increase in median purchase price, rising by 26 per cent, followed by Limerick and Westmeath, up 17 per cent and 16 per cent respectively.<\/p>\n

Almost a third of people who bought a home in 2024 were aged 35 or under. Around 11 per cent were aged 60 and over. The median income for purchasers aged under 35 was \u20ac86,400.<\/p>\n

In 2022, 8 per cent of people who bought a home and were counted in Census 2022 were living with their parents.<\/p>\n

Trevor Grant, chairman of Irish Mortgage Advisors, expressed concern about the rise of the median age of the house buyer to 40. <\/p>\n

\u201cFor many people today, it is taking much longer to buy a home than they had ever envisaged,\u201d he said. \u201cIndeed, given the severe shortage of housing and the high house price inflation of the last few years, home ownership has become a pipe dream for a lot of them.<\/p>\n

\u201cWhile the decision to buy or rent can be a lifestyle one as much as financial decision, it is clear that rising house prices and the chronic shortage of housing in Ireland has led to an increase in the numbers of people renting. <\/p>\n

\u201cThe recent census shows that between the years 2016 and 2022 alone, the total number of occupied rental properties increased by almost 10 per cent.<\/p>\n

\u201cThis has knock-on financial and societal consequences. The trend of people buying homes later in life means that more people are starting families while still renting. Indeed, more people are renting well into their 30s and even 40s and beyond.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The median income of a person who bought a home last year was \u20ac84,400, almost 60 per cent…\n","protected":false},"author":2,"featured_media":85906,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[79,18,8752,19,17],"class_list":{"0":"post-85905","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-eire","10":"tag-housing-crisis","11":"tag-ie","12":"tag-ireland"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/85905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=85905"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/85905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/85906"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=85905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=85905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=85905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}