Data shows salary of singleton could only afford house in 7 counties

New figures show a single person on a typical salary could only buy a house in seven of the 26 counties in the Republic.

The data from the Central Statistics Office has been used to compare median wages across counties.

The median is the midpoint of a group of numbers.

Analysts say it often better represents what a typical worker earns than the average wage.

The maximum mortgage amount for someone earning the median wage here with a 20% deposit is €152,800.

Meanwhile the actual median house price in the county as of last December is €185,000.

Kieran McQuinn, a research professor at the ESRI, says the housing market tends to favour couples.

“Ever since the early 2000s really its almost like the mortgage market is catering for or assuming that you are talking about a dual income couple essentially buying a property.

“Unless he single income is a very very high income level, it is almost built into the system in a sense.”

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Photo Credit: Wikimedia Commons


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