Donegal Deputy and Sinn Fein Finance spokesperson Pearse Doherty says a generation has now been locked out of home ownership.
It’s after the average age of first-time buyers reached 35 for the first time.
The Donegal TD said that the Government’s housing crisis was deepening, with an entire generation locked out of home ownership, saying that the “…Mortgage Market Profile report published by the BPFI lays bare the impact this Government’s housing crisis is having on those trying to buy their first home.”
“For the first time, the age of the average first-time buyer has reached 35 years of age. 44 percent of first-time buyers are now over the age of 35, compared to 17 percent two decades ago.”
“The average mortgage taken out by first-time buyers has also surged, standing at €315,000 for new builds, driven by the sharp rise in house prices under this Government’s failing housing policies.”
“In Dublin, the average mortgage taken out by first-time buyers now stands at €475,000 for new and €387,400 for existing builds. This has resulted in first-time buyers being saddled with higher debt and higher monthly repayments.”
“Today’s mortgage data makes clear that under this Government, home ownership is becoming more difficult, more distant and more expensive for an entire generation.”
