One in four adults is living in homes that do not suit their needs, but they cannot move on due to the current property market, a new survey has found.
A national survey commissioned by the Irish League of Credit Unions (ILCU) found that more than a quarter (28%) of 18 to 34-year-olds said they were living in unsuitable homes but could not afford to move out. Perhaps surprisingly, a quarter of those in the older age group of 35-54 year olds (26%) also felt this way.
ILCU head of marketing and communications Emmet Oliver said: “It’s troubling that such a substantial portion feel trapped in unsuitable homes, but say the current property market is preventing them from moving out.
“While most express satisfaction with their long term accommodation, of particular concern is that it’s not just younger generations who believe they are in a home that no longer suits, but a significant portion of the 35-54 age group also feel this way.”
The survey, which also looked into home improvement and DIY trends, found that almost a fifth are forking out to extend their home, either with an attic/garage conversion - or an extension. This trend underlines the finding that a significant proportion of people are living in homes unsuitable for their needs according to the ILCU.
Overall, the survey shows that almost two thirds of Irish households have carried out home improvements in the past three years.
It found that laying down new carpets and flooring is the most popular home improvement with 42% reporting they were upgrading their homes in this way. Installing new heating or insulation systems followed closely behind at 38%. Fitting new windows or doors was the third most popular home upgrade at 23%. The area of their homes most people want to change in 2017, is the kitchen (21%), followed by the bathroom (18%) and living room (16%).