According to Switcher.ie, first-time buyer couples in Ireland are now taking nearly five years on average to save enough for a deposit on a home. The situation varies significantly by region, with Longford being the most affordable place where deposit savings only take about 1.7 years. Contrastingly, Dún Laoghaire stands out as the least affordable location, where it could take up to 21.4 years. This analysis considers median earnings, property prices, and savings rates, revealing current trends in new home construction and affordability challenges for buyers in more expensive areas.
It now takes a typical first-time buyer couple nearly five years to save for a deposit, with significant variations across regions, especially with rising property prices.
In Longford, it takes only 1.7 years to save for a deposit, making it the most affordable area, while Dún Laoghaire poses the most challenge with 21.4 years.
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