Affordability for first-time buyers growing

HOUSES are becoming more affordable despite the negative impact of savage tax hikes in the budget on disposable incomes.

The good news is that this year mortgages will consist of just 15% of disposable incomes.

“This is the best since late 1996 and compares to almost 30% of net income at the height of the housing boom in Q4 2006,” said AIB in its latest affordability index for First-Time Buyers (FTB).