Less Than One Third Under-40 Own Their Home

Thursday, 20 July 2023 14:59

That's according to new ESRI research.

Middle-to-higher income renters in Ireland are facing steeper housing costs than their European neighbours.

New research from the ESRI measured the level of net income spent on rent and mortgages across 15 similar European economies.

It found Ireland ranked sixth on average - however, when broken down into income brackets, those on the higher end of the scale struggled more with affordability.

14% of middle-to-higher income households in Ireland spent 30 per cent of their income on housing, compared to just 3% of households on average elsewhere.

The report's author, Dr. Rachel Slaymaker, says a significant age divide has also emerged when it comes to home ownership:

Ireland's over-40 home ownership figures will plummet due to the housing crisis here.

That's according to the Institute of Professional Auctioneers and Valuers.

Less than a third of people under 40 own their home, and IPAV CEO, Castlepollard's Pat Davitt, says that will have an impact on the figures in the future: