Rachel McGovern, Director of Financial Services at Brokers Ireland. (Picture: Stephen Wall Morris)
Commenting on this week’s CSO Residential Property Price Index for June, Brokers Ireland said prices are reasonably steady but with a much-reduced volume of over 33pc compared with the same month last year.
And with a mean house price of €286,663 in June, the organisation which represents 1,225 broker firms said a first-time buyer (FTB) would need a household income of almost €82k, based on the Central Bank income limit of 3.5 times income. In addition, such a buyer would need to have saved a deposit of €28,666.
Rachel McGovern, Director of Financial Services at Brokers Ireland said: “As the country struggles to reach some semblance of normality in the face of the pandemic people whose lives had already been on hold because they couldn’t meet the requirements for a mortgage are being further disenfranchised
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