Typical homebuyer earnings reach €81,500 as individual homebuyers have been pushed out of the market
THE typical income for joint homebuyers in the state was $100,000 in 2019, a new report shows.
The proportion of jointly acquired properties was 62.2 percent in 2019.
A new publication from the National Statistics Office gives details of age, income and prices paid for each local electoral area.
It shows that Boyle had the lowest median price for a local constituency in Co Roscommon at €96,000.
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Carrick-On-Shannon, Leitrim, and Manorhamilton, Leitrim followed with €100,000 and €102,000 respectively.
The highest median or typical prices were found in the Dublin city areas of Dún Laoghaire-Rathdown and Dublin City.
Stillorgan, Dún Laoghaire-Rathdown had the highest median price at €665,000, followed by Pembroke, Dublin City at €637,000.
In Manorhamilton, Leitrim, the average price for a single person was €95,000.
This is compared to the median price of a joint transaction of €104,000.
Ongar in Fingal had the lowest average age for sole buyers at 35.
The number is 33 for joint buyers in Tallaght South, South Dublin.
The CSO said the median income of a joint buyer in 2019 at the state level was €81,500.
But at the local constituency level it has ranged from a low of €48,800 in Buncrana, Donegal, to a high of €162,600 in Pembroke, Dublin City.
The four Dublin local government areas dominated the table in terms of local voting area with the highest median combined buyer income.
Cork City South East, Cork City was the thirteenth-highest local voting area with a value of €110,200.
Tallaght South, South Dublin was the local constituency with the lowest median age for joint transactions at 33, while Bantry-West Cork, Cork County had the highest at 53.
Leixlip, Kildare and Tallaght South, South Dublin are the local constituencies with the lowest average age of shoppers in 2019 at 34.
Pembroke, Dublin City was the constituency with the highest median joint transaction income at €162,600, while Buncrana, Donegal had the lowest income at €48,800.
Carrick-On-Suir, Tipperary was the area with the lowest median income for single transactions at €24,600 while Pembroke, Dublin City was the LEA with the highest at €74,200.
CSO statistician Seán O’Connor said research showed the share of properties purchased together was 62.2 percent in 2019.
But this rose to 76 per cent in South Dublin. He said that percentage for Lucan in Dublin was 82.5 percent.
Of the 45,280 homes bought in 2019, Howth-Malahide, Fingal was the LEA (local constituency) with the highest number of transactions with 770, followed by Naas, Kildare with 740.
“In contrast, LEAs such as Muinebeag, Carlow, Belmullet, Mayo and Ballybay clones, Monaghan, had the lowest combined number of transactions at 70.”
Meanwhile, local authorities were informed last month that construction of 2,746 new homes was set to begin.
That was 17 percent more than in April, the Department for Housing, Local Government and Heritage said.
Last year, construction start notifications were received for 30,233 new apartments.
On a rolling 12-month basis, the total number of homes for which construction start notifications have been received is 18.5 percent higher than the previous 12-month period.
However, due to the pandemic-related building restrictions in the period March 2020 – April 2021, the figures are not directly comparable.
Since 2015 (the earliest year for which comparable data is available), housing notifications have increased every year except for 2020, when there were significant housing restrictions due to the pandemic.
https://www.independent.ie/business/personal-finance/property-mortgages/income-of-typical-homebuyers-hits-81500-as-single-buyers-squeezed-out-41770075.html Typical homebuyer earnings reach €81,500 as individual homebuyers have been pushed out of the market