The average price of a new property for first time buyers (FTBs), increased by €60 thousand between 2020 and 2022 in the South and Mid-West region.
That’s according to the latest Mortgage Market Profile Report by the Banking and Payments Federation Ireland (BPFI).
The figures show that in the area - which comprises of Kerry, Clare, and Tipperary- the median cost of a new build for FTBs, at the end of last year was €340 thousand.
Figures in the BPFI report, show in the second half of last year, that the average loan for First Time buyers for a new build, was €255,000; up from €220,000 in the first half of 2020.
The average repayment was €884 per month; while the stats show that the median basic household income was €81,000.
According to the report, the average price of an existing property for FTBs, was €220,000; while the median loan for an existing property was €180,000.
The average repayment for an existing property was €810 per month; while the median household income was €63,000.
In the second half of last year, self-builds accounted for 74% of new properties financed in the Kerry, Clare and Tipperary region. A 4% drop on the year before, but the highest share nationally.
55% of first-time buyer mortgages were secured on detached houses/bungalows.
The average borrower age of a first-time buyer in the region was 35, while the median loan term was 42 years.
