The typical income of a home purchaser in Ireland has risen by almost 50% since 2012, according to new figures from the Central Statistics Office (CSO).
The ‘Characteristics of Residential Property Purchasers - Estimates of Mortgage and Non-Mortgage Transactions 2021’ report shows the median 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%.
The median income of those buying with a mortgage was €79,200 in 2021 (up from €56,700 in 2012) compared with €49,900 for buyers without a mortgage (up from €37,100 in 2012). The median is the middle point between the lowest and highest value mortgages.
The CSO figures provide details about the age, income and prices paid by mortgage and non-mortgage buyers in each electoral area in 2021.
Dún Laoghaire-Rathdown was the local authority with the highest median income of buyers with a mortgage at €126,900, followed by Dublin city at €93,300. Longford was the region with the lowest median income of buyers with a mortgage at €56,000.
The median age of home purchasers in Ireland in 2021 was 39, up from 35 in 2010, reflecting the difficulties faced by younger people trying to get on the property ladder.
Buyers with a mortgage had a median age of 37 compared with 47 for those who purchased without a mortgage, the CSO’s study indicated.
The proportion of dwellings purchased in Ireland with a mortgage was 63% in 2021, which was a fall from a series high of 65% in 2019.
South Dublin had the largest proportion of mortgaged transactions in 2021, at 77%. The CSO said South Dublin tended to have the largest proportion of mortgaged transactions.
The median price paid for a dwelling purchased with a mortgage was more than 40% higher than a dwelling purchased without a mortgage (€309,000 as opposed to €220,000).
Dún Laoghaire-Rathdown was the region with the highest median price for both mortgage and non-mortgage purchasers at €610,000 and €560,000, respectively.
This region has the highest median price for both mortgage and non-mortgage purchasers each year since 2016. The median loan amount was €220,000 in 2021 in comparison to €213,600 in 2020.
The highest median age of purchasers with a mortgage was 40 in Kerry, while the lowest was in Kildare and Meath at 35.
