November 17, 2023
Average age of first-time buyers rises to 35 for first time as generation locked out of home ownership – Pearse Doherty TD

Sinn Féin spokesperson on Finance, Pearse Doherty TD, has responded to new mortgage data published by the Banking and Payments Federation, which shows that the average age of first-time buyers has risen to 35 for the first time.

The Donegal TD said that the Government’s housing crisis was deepening, with an entire generation locked out of home ownership.

Teachta Doherty said:

“Today’s Mortgage Market Profile report published by the BPFI lays bare the impact this Government’s housing crisis is having on those trying to buy their first home.

“For the first time, the age of the average first-time buyer has reached 35 years of age.

“44 percent of first-time buyers are now over the age of 35, compared to 17 percent two decades ago.

“The average mortgage taken out by first-time buyers has also surged, standing at €315,000 for new builds, driven by the sharp rise in house prices under this Government’s failing housing policies.

“In Dublin, the average mortgage taken out by first-time buyers now stands at €475,000 for new and €387,400 for existing builds.

“This has resulted in first-time buyers being saddled with higher debt and higher monthly repayments.

“Today’s mortgage data makes clear that under this Government, home ownership is becoming more difficult, more distant and more expensive for an entire generation.”

Follow us online

Latest Tweets

Polls are now closed. 

Thanks to everyone who voted Sinn Féin today. 

Thanks to our Sinn Féin candidates, their families and their campaign teams, all of whom ran an incredible campaign for change.

Tosaíonn Athrú Anseo. Change starts here!

🚨Polls open until 10pm! Make sure you come out and vote Sinn Féin.

Vote for change.

Change starts here! 🗳️

#useyourvote #elections2024

If you want CHANGE, vote Sinn Féin today in the local and European elections in the South.

Our candidates will stand up for workers and families, and are committed to building a brighter, better future for all.

Load More