Age of first-time buyer rises to 34 as time in parental home lengthens

The average age of the first-time buyer has risen to 34, as demand and lack of house completions also raised house prices.

The average age of a first-time home buyer has risen to 34 amid the housing shortages and new supply will take at the end of 2024 at the earliest to help matters, the head of the banking industry group has said. 

Supply shortages have also meant the age of leaving the parental home has risen to over 28 years and prices appear to be close to matching the levels of 2007, said Brian Hayes at the Banking and Payments Federation Ireland.