Households Need An Income Of Almost €80,000 To Secure Mortgage

It has gone up €6,000 in the last two years.

The amount of money first time buyers need to earn to secure a mortgage "has never been greater", according to a new report.

A study by the Banking and Payments Federation shows the median income of households seeking a first time mortgage has increased by €6,000  in two years.

It has gone from €71,000 in 2019 to €77,000 last year.

Chief Executive of the BPFI, Brian Hayes, says it's a difficult time for first time buyers to get on the housing market:

More from Entertainment & Lifestyle

Download Our App