* In 2024 the national median income of residential property purchasers was €84,400, up from €80,100 in 2023, and €75,600 in 2022.
* Just over 60% of residential properties were purchased jointly in 2024.
* Dún Laoghaire-Rathdown had the highest joint purchaser income in 2024 at €157,100, and the lowest was Monaghan, at €77,900.
* Longford was the county with the lowest median purchase price in 2024, at €182,200, and Dún Laoghaire-Rathdown had the highest median price, at €660,000.
* Sligo was the county with the biggest annual percentage increase in median purchase price in 2024, rising by 26%, followed by Limerick and Westmeath, up 17% and 16% respectively.
* Almost a third of people who bought a dwelling in 2024 were aged 35 or under. Around 11% of purchasers were aged 60 and over.
* The median income for purchasers aged under 35 in 2024 was €86,400.
* In 2022, 8% of people who bought a home and were counted in Census 2022 were living with their parents.
When they say that income figure then if it is a couple buying I assume it is their joint incomes. So if 60% are joint purchasers thats massively impacting it. Like 84k as median would be joint couple on 42k each.
HereA11Week on
I assume that’s joint income?
Dave1711 on
So more or less what we all know, either have to be buying with a partner or have a very well paying job to have a chance at buying a home.
Not much chance for single people earning on the lower end.
Oakcamp on
Is the income figure before or after tax?
I’d assume after, which nakes it even more grim. Didn’t find a specification on the article.
National_Play_6851 on
Given that the median salary in Ireland is a little over 43k, and the majority of home buyers are couples, 84k median for home buyers sounds about right, that’d be a couple on 42k each.
Naggins on
That’s just a hair above 2x median earners‘ income so that makes sense.
Interesting though that 40% of purchases weren’t joint buyers, and 67% were over 35. Having been on a househunt recently there were a lot of down- and upsizers which would track.
Ser-Rendered on
A pack of cigarettes right now is the equivalent of 11% of my net worth…
Redundancy in the tech space got me, ( Gonna be a LOT more common) and I legitimately have no idea how anyone not already from wealth is ever going to climb that ladder.
Difficult-Monk6688 on
This tracks with our experience last year. We’re on about €88K combined. I’d never be able to afford a home on my own in this country, and neither would my husband.
Key_Duck_6293 on
If you arent a couple or rich then goodluck getting on the housing ladder. 1 bed apartments and 1/2 bed townhouses are beyond most individuals. Market is broken
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**Key Findings**
* In 2024 the national median income of residential property purchasers was €84,400, up from €80,100 in 2023, and €75,600 in 2022.
* Just over 60% of residential properties were purchased jointly in 2024.
* Dún Laoghaire-Rathdown had the highest joint purchaser income in 2024 at €157,100, and the lowest was Monaghan, at €77,900.
* Longford was the county with the lowest median purchase price in 2024, at €182,200, and Dún Laoghaire-Rathdown had the highest median price, at €660,000.
* Sligo was the county with the biggest annual percentage increase in median purchase price in 2024, rising by 26%, followed by Limerick and Westmeath, up 17% and 16% respectively.
* Almost a third of people who bought a dwelling in 2024 were aged 35 or under. Around 11% of purchasers were aged 60 and over.
* The median income for purchasers aged under 35 in 2024 was €86,400.
* In 2022, 8% of people who bought a home and were counted in Census 2022 were living with their parents.
https://www.cso.ie/en/releasesandpublications/fp/fp-cropp/characteristicsofresidentialpropertypurchasers2022-2024/keyfindings/
When they say that income figure then if it is a couple buying I assume it is their joint incomes. So if 60% are joint purchasers thats massively impacting it. Like 84k as median would be joint couple on 42k each.
I assume that’s joint income?
So more or less what we all know, either have to be buying with a partner or have a very well paying job to have a chance at buying a home.
Not much chance for single people earning on the lower end.
Is the income figure before or after tax?
I’d assume after, which nakes it even more grim. Didn’t find a specification on the article.
Given that the median salary in Ireland is a little over 43k, and the majority of home buyers are couples, 84k median for home buyers sounds about right, that’d be a couple on 42k each.
That’s just a hair above 2x median earners‘ income so that makes sense.
Interesting though that 40% of purchases weren’t joint buyers, and 67% were over 35. Having been on a househunt recently there were a lot of down- and upsizers which would track.
A pack of cigarettes right now is the equivalent of 11% of my net worth…
Redundancy in the tech space got me, ( Gonna be a LOT more common) and I legitimately have no idea how anyone not already from wealth is ever going to climb that ladder.
This tracks with our experience last year. We’re on about €88K combined. I’d never be able to afford a home on my own in this country, and neither would my husband.
If you arent a couple or rich then goodluck getting on the housing ladder. 1 bed apartments and 1/2 bed townhouses are beyond most individuals. Market is broken