Report reveals how much couple needs to earn in order to buy house in Dublin

Report reveals how much couple needs to earn in order to buy house in Dublin

A couple need to be earning €98,000 in order to buy a home in Dublin, according to a new report from KBC Bank.

The report shows the average price of a house in the capital has almost doubled in seven years for first-time buyers.

It has gone up from €200,000 in 2012 to €380,000 last year.

Business journalist Gavin McLoughlin said it is making it very hard for people to buy a home.

Mr McLoughlin said: "Now it helps, obviously, if you're buying with your partner, if there are two of you who can contribute to that necessary income.

"Probably the hardest part of it is putting the deposit together, the €38,000 deposit, and certainly that has been my experience as somebody who has been looking to buy.

"It's very hard to save when you have rent, you have creche fees, so affordability is a big, big issue."

The report also found that the proportion of non-household buyers, ie public and private institutional buyers, in Dublin has soared from 6% in 2010 to nearly 28% last year.

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