Less Young People Buying Homes...

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Less Young People Buying Homes According To New Report

Jonathan Byrne
Jonathan Byrne

01:27 25 Nov 2021

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The report was released by the Banking and Payments Federation. 

The average age of first time home buyers is getting older.

A report has revealed that under 30s make up for 24 percent of drawdowns this year.

That's compared to a total of 60 percent in 2004, which is a huge reduction.

Authors say there are several... 'societal issues' at play for the stark drop in younger first-time buyers.

People getting married and having children later in life could be a contributing factor.

23-year old Trinity College student and entrepreneur Harry McCann thinks it's out of young people's hands.

"We're king of being forced to do things later in life because we can't afford to do them any later," he said.

"Many people would like the opportunity to buy a home. I think that's being taken away from them."

The Banking and Payments Federation of Ireland says first-time house purchases are back to 2019 levels. ...

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