Hoy en la Historia
AVERAGE WORKER CAN’T AFFORD HOME September 27, 1960
The Daft report — which tracks property prices in Ireland — found that house prices have stabilised between the second and third quarter of 2022.
Between June and September, the average listed price of houses rose by 0.1 per cent nationally.
Dublin is the most expensive, with the average listed price of a property standing at €427,158. House prices in south county Dublin are the highest, at an eye-watering average of €654,000.
Lending
Wicklow is next, with houses costing €414,322, requiring a mortgage lending income of €106,542.
Kildare is third at €326,383 the average price listing, needing annual earnings of €83,927. This means that only those in the top five per cent bracket of earners can afford to buy in this region.
Corkonians need to be on
€70,000; Galwegians €66,549 and Limerick buyers can get a look in at home ownership from €60,525.
Those on the average income of €51,676 are priced out of most counties in Ireland, with the exception of six — Donegal, Leitrim, Longford,
Mayo, Roscommon and Sligo.
The national average asking price for a home in Ireland is €311,514, which would require a salary of approximately €80,000.
Our analysis of the salaries found the average buyer across the country would need to be earning €75,000 a year to get a mortgage on an affordable home.
Sinn Fein housing spokesman Eoin O Broin said: “Though Dublin prices have stabilised, it is at the extraordinarily high average price level of €427,000.
“Thirteen counties have experienced double digit house price inflation in the last twelve months.”
Some of those double-digit rises in house prices are in the most remote of counties. Donegal and Kerry both saw big upticks, with Donegal up 16.8 per cent and Kerry up 11 per cent. Meanwhile, Galway is up 10.3 per cent, Leitrim 13.8 per cent and Roscommon 14.4 per cent.
The report’s author, economist Ronan Lyons, said: “Weaker demand... and increase in interest rates, may help stabilise prices.
“But the solution remains increased supply.”
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