New survey reveals the type of house you could buy in Ireland depending on your salary
Life & Style

New survey reveals the type of house you could buy in Ireland depending on your salary

The Irish Times have composed a list of the types of houses you could buy depending on salary.

The list, written by Fiona Reddan, details the results of a survey which assesses people's salaries and the location and scale of house they could purchase.

Figures are based on the “median”, or the middle sales price according to figures compiled by the Central Statistics Office (CSO) for March 2018.

The results indicate a recovery in house prices in Dublin, which seems to have had a ripple effect across other counties.

As Reddan states: "If you're not a professional earning more than €150,000 a year, you can forget about buying the typical house in an area like Blackrock or Ranelagh in Dublin, with rising house prices continuing to stretch affordability.

"On the other hand, if you’re working on the checkout or in a shop earning the minimum wage in a county like Longford or Roscommon, provided you can save a deposit, you’ll be able to purchase your own home."

The survey shows that a single person living in Co Longford needs a salary of just €17,304 – or €8,652 if they’re part of a couple– to purchase the typical, or “median” priced home in the county. The same can be said for those living in the county of Roscommon.

On the other hand, someone in Blackrock, south county Dublin, needs to be earning a staggering €165,857 a year just to buy the typically priced house in that area, illustrating a vast difference between average house prices across the country.

The counties of Longford, Roscommon, Donegal, Kerry and Cavan are currently the five most affordable places to buy a home in Ireland. It ranges from an average of €17,304 in Longford to €24,429 in Cavan.

On the other end of the scale are Dublin 4, Glenageary, Dublin 14, Dublin 6 and Blackrock. A home in Dublin 4 goes for around €133, 714 while an average home in Blackrock can be bought for €165, 857.

The southside of Dublin is the premium area for home-buyers in the current climate, which includes areas such as Blackrock, Glenageary, Ranelagh, Rathgar, Donnybrook and Clonskeagh.

Outside of Dublin, it’s the commuter counties that require the biggest salaries to buy a house; in Wicklow for example, you’ll need about €75,000, or €68,000 in Kildare.

Returning to the capital, Balbriggan in north county Dublin is the most affordable locale in the capital, with a salary of €54,514 required to purchase a home there.

Elsewhere, counties Galway, Kilkenny and Cork require annual salaries of between about €47,500 and €50,000 to buy the typical property in those areas.

Go to Irish Times for the full list of house prices in Ireland and the salary required to purchase them.