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Thursday 18 July 2019

Home ownership now 'beyond young people'

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Stock picture

Dean Grey

An overwhelming majority of people in Ireland now fear that home ownership is beyond the grasp of the younger generation.

In a survey of 5,000 people, some 68pc of respondents stated that they agreed completely with the prompt "I am concerned that home ownership is less attainable for younger generations than it would have been in previous years".

Only 1.23pc of respondents stated that they were in complete disagreement, according to AA Home Insurance.

It follows recent research that shows the average buyer is now four years older than the age of borrowers in the late 2000s. First-time buyers are now 34 years old on average when they get the keys to their own home, according to the Central Bank.

"Housing and, indeed, getting on the property ladder is one of the major issues facing Irish society currently and ranks up there with Brexit in terms of challenges for our Government to get their heads around," said Conor Faughnan, AA director of consumer affairs.

Irish Independent

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