Average SSIA savings will not even cover increase in house prices

HOUSE hunters waiting to get their hands on SSIA savings to place a deposit on a home would have been better off borrowing the deposit and buying a year ago.

The average SSIA savings at around €20,000 would not make up for the €30,000 increase in the average cost of a house over the past year.

Even borrowing for a deposit at short-term interest rates at up to 4.5% would have left the house hunter better off.