New data shows the typical income of first-time buyers is now over €90,000 at a time when average salaries are less than €50,000.
The figures were published yesterday by the Banking and Payments Federation Ireland in its review of the domestic mortgage market. A report by the lobby group stated that the “median basic household income” of first-time buyers of new homes in the second half of last year was €91,000.
It was lower at €74,000 a year for first-time buyers of existing properties in the same period, but rose sharply for new homes and rose again to €109,000 for mover purchasers, while the typical, or median, income of first-time buyers of new homes in Dublin was €103,000.
