Average age of a solo first-time buyer rises to 42

Average age of a solo first-time buyer rises to 42

Single people are, on average, eight years older when buying homes or apartments than they were in 2010, according to a new report from the Central Statistics Office. File picture

Single people are, on average, eight years older when buying homes or apartments than they were in 2010, according to a new report from the Central Statistics Office (CSO).

The report, entitled Characteristics of Residential Property Purchasers 2010-2019, analyses data on people who purchased a residential property in Ireland and provides insights into the housing market.

The median age for a sole purchaser increased from 34 years in 2010 to 42 in 2019, the CSO found.

For joint purchasers, the median age rose three years, from 35 to 38.

The age for joint purchasers also varies depending on whether the couple has a child, with the median age for parents purchasing property being 38 in 2019, compared to 36 for a joint purchaser without children.

Area breakdown

The highest median age for sole purchasers was 50 in Kerry in 2019, while the lowest was 38 in Dublin City.

For joint purchasers, the highest median age was 44 in Kerry with the lowest at 35 in south Dublin.

Seven in 10 purchases of residential dwellings were joint transactions with a male and female.

Just over one in 10, or 11.7%, were male sole purchasers while a further one in 10, or 11.4%, were female sole purchasers.

The highest proportion of male and female joint purchasers were in Meath (82.7%), south Dublin (82.1%) and Kildare (81.3%), while the lowest was 61.5% in Leitrim.

The median income of purchasers also increased in recent years, from €49,000 in 2012 to €67,800 by 2019, the CSO found.

The median gross income for joint purchasers with a child or children was €84,900 in 2019, and for joint purchasers without children, the median income was €77,900.

For sole purchasers without children, the average income was €43,000 in 2019, and the average income for single purchasers with children was €40,100.

Dún Laoghaire-Rathdown had the highest gross income for joint purchasers of €123,700 in 2019, followed by Dublin City (€101,200) and Fingal (€90,600).

The lowest values for gross income for joint purchasers were in Longford (€59,300), Leitrim (€60,600) and Roscommon (€62,300).

For sole purchasers, the highest gross incomes were in Dún Laoghaire-Rathdown (€57,600), Dublin City (€56,600) and Fingal (€52,900), while the lowest were in Roscommon (€29,700) and Donegal (€30,800).

The joint income was €66,100 higher than the sole income in Dún Laoghaire-Rathdown in 2019, the largest difference in Ireland. Louth had the smallest difference of €25,200.

Price rises

Separately, the CSO also published the residential property price index, which found the cost of houses and apartments increased by 4.5% nationally in the year to April.

In Dublin, residential property prices saw an increase of 3.5% in the year to April, while property prices outside Dublin were 5.4% higher.

Property prices nationally have increased by 91% from their trough following the financial crash.

Dublin residential property prices have risen 99.1% from their February 2012 low, while residential property prices in the rest of Ireland are 91.4% higher than at the trough, which was in May 2013.

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