Young people’s chances of owning their own home before they reach middle-age appears to be slipping away, with new figures showing just 27% of first-time buyers last year were aged 30 or under – and amid concerns the housing crisis could impact on family growth, access to higher education and future support for the elderly.
A detailed mortgage report published by the Irish Banking and Payments Federation (IBPF) shows the percentage of mortgages issued to young people last year was less than half of that in 2004 at the height of the Celtic Tiger boom.
It comes amid ongoing concerns about the supply of starter homes and available properties in general, in tandem with spiralling rental costs and the impact of the pandemic on the ability of younger people to earn and save money.
According to the report, older borrowers are increasing their share of the mortgage market, and not just when it
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