Statistics compiled by the Central Statistics Office (CSO) indicate that the average age of house buyers is going up – it seems that the median age of single home buyers has gone above 40, with joint purchasers standing at 38.
Their recent data on the characteristics of Residential Property Purchasers in all Local Electoral areas (LEA) in the country was based on 2019 figures. The median national average age has risen significantly from 34 in 2010 to 42 in 2019 for sole applicants and from 35 to 38 for joint homebuyers.
Over 62% out of 45,280 properties sold in 2019 were bought by joint purchasers. This was up from 47% in 2010. And properties purchased jointly, or by two people, now account for almost two-thirds of transactions. Figures show that the median national average age for joint applicants has also gone up from 35 to 38 years of age.
CSO statistician Seán O’Connor said that their Frontier publication “provides further information on the characteristics of individuals purchasing residential property in Ireland in 2019, across the themes of prices, ages, income and counts of dwellings purchased. From examining the data presented today it is clear to see the regional variation of the housing market across the State. While Characteristics of Residential Property Purchasers 2010-2019 noted that the proportion of properties purchased jointly stood at 62.2% in 2019 and 75.8% in South Dublin, in Lucan, South Dublin, this share stood at 82.5%.
“Of the 45,280 dwellings purchased in 2019, the LEA with the highest number of transactions was Howth-Malahide, Fingal, at 770, followed by Naas, Kildare, at 740. In contrast, LEAs like Muinebeag, Carlow, Belmullet, Mayo, and Ballybay-Clones, Monaghan, jointly had the lowest number of transactions at 70,” he commented.