90% believe people should be on the property ladder by 35, survey reveals

90% believe people should be on the property ladder by 35, survey reveals

The ideal age to move out of the family home is 24 while the ideal age to buy your first house is 29, according to a new survey.

That compares to the average age of a first-time buyer in Ireland which is between 29 and 34.

According to the study by protection specialist Royal London - 95% of people say you should move out before you are 30.

While 90% believe you should be on the property ladder before 35.

The survey revealed some disparity between the views of older and younger generations when it comes to moving out.

Over half (53%) of 18-34-year-olds believe you should be between the ages of 20 and 24 when moving out of the family home.

However, 64% of respondents over the age of 55 believe your early 20s is the ideal time to move out.

Commenting on the findings, Barry McCutcheon, Proposition Lead at Royal London said: "As the age of first-time buyers in Ireland continues to rise, it would appear that moving out and buying your first property at the most ‘desirable’ age is beyond reach for most people.

"As society evolves, family situations and living arrangements change. What would have been once considered the traditional sequence of events, get married, buy a house and then have children, in that order, is becoming less common.

"A period of renting at some point is usually the case for many individuals nowadays and current house prices and Central Bank lending restrictions mean that, on average, people have to wait well into their thirties before they can afford their first home."

Digital Desk

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