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THE AVERAGE AGE of first-time home buyers is now 34, according to a group representing estate agents.
This average age has jumped from 29 in 2006 and even from 33 just 12 months ago says the Real Estate Alliance.
The REA blames a number of factors for the delay in young people buying houses, saying that they are being priced out above a certain level.
“A definite two-tier system has emerged over the past year nationwide, with €160,000 emerging as the breaking point for interest from buyers in that age group, ruling out most properties in Dublin,” REA chairman Michael O’Connor said this morning.
O’Connor also says that another factor pushing up house prices, especially in rural areas, is an increase in foreign-born nationals living in Ireland who are now buying homes.
In areas such as Carlow, REA agents are reporting that 30% of first-time buyers are now from eastern Europe, a percentage that has grown rapidly over the past two years.
The REA has been vocal in calling for the Central Bank to row back on its mortgage deposit rules with O’Connor describing them as “over-restrictive” and causing a “two-tier system”.
“The introduction of the Central Bank’s requirements, combined with higher rents, has made it increasingly difficult for young people to save deposits, especially in Dublin,” he argues.
“House ownership is now off the table for many couples earning average salaries, with their only hope of purchase now coming from an injection of outside help, usually from close relatives.”
Under the Central Bank rules introduced last year, borrowers are expected to arrive to market with at least a 20% deposit saved for the value of the house they hope to buy. For first-time buyers the rules are slightly more lax, with just 10% of the first €220,000 required, and 20% thereafter.
The REA says it welcomed the rules at the time but that they are now “not reflecting” the market.
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People who call their son Jack are also extremely likely to drive a VW Golf and think Mrs Brown’s Boys is the best comedy on TV.
@The Guru: really..I dont have a golf and hate mrs browns boys.
Drive A4 and watch friends ;)
@Mark Murphy: I drive an Audi and hate Mrs brown’s boys with a passion.
And next year we’ll have at least one Corona
@Sequoia: and lots of Mary Lou’s.
@Chin Feeyin: Funny thing when I was a child , my first tea set was a Mary Lou tea set, four cups, saucers ,plates,teapot,sugar and cream jug and four little spoons, they were coloured yellow with red flowers and made in tin by chad valley, they are collectors items now.
I was assured that Mohammed was in the top 5? What’s going on?
@greg merrin: Did Gemma tell you that?
@greg merrin: 78 and creeping up
@Nolan Spare: it’s the most common name in the UK now taking all the different spellings into account.
@greg merrin: Definitely a cover up…can’t see a ‘foreign’ name in the top 20…shows a further cover up of the imminent takeover of Ireland by foreigners with staggering birth rates simultaneously stealing jobs and claiming benefits
@greg merrin: It’s a conspiracy…it’s definitely number 1, as the staggeringly high birth rate of immigrants and them simultaneously taking jobs & benefits is leading to an imminent apocalypse & collapse of Irish society
@Bountyop: Are you a parody account?
@Nolan Spare: You mean it has fallen from 63 last year? That type of creeping up?
I am happy that in each of my 3 kids school years there is not another kid with the same name as them!
@Fergal O’Hagan: can i take a guess. Attracta, Assumpta & Dymphna.
@Fergal O’Hagan: Kim Kardashian can say the same thing how does that make you feel? thats what the world needs more of…pretentious parents with notions
@Keelan O’neill: close, Bingo, Bango and Bongo!!!
@Wheresmyjumper: didn’t go as extreme as her but just gave them regular names that aren’t common. We used our imagination and relatives names!!! Trust me I have no notions!!!
C’mon folks, jack again? Sick of it at this stage. As well as the rest of the downton abbey type names.
@Bart Teeling: Pipe down Bort!
@Bart Teeling: Don’t have a cow man !!
@Chris Linehan: are you talking to me ?
No Keith on the list? Shocked!
Guys, we have enough Jacks now, come on! Show some originality
@Newto2016: the toilet or the names?
Feeling pretty unique
The new boys name which is taken off big time is ‘Theo’,unbelievable numbers calling their child with this name.
Ross is better than Jack
I have a little girl last January and called her Mary-Anne definitely not on the list since 1969
Are you sure that’s not the English list?
3 Rueben’s in my kids class
@Peter Leonard: 4 and you’ll have the makings of a cube.
When I was young I rarely heard of any other boys/girls called Darragh/Daragh. Now we’re everywhere. I turn my head every time I hear someone say the name as I’ve inadvertently been programmed to think I’m the only one and they have be talking to me…
Odhran seems to be the most popular boys name. Makes the list twice. One with a fada and the other without.
@Stevo The Man On A Mission Returns: it appears to have fallen from 63 to 78…
@Bountyop: It increased from 63 to 78.
I have a little girl last January and called her Mary-Anne definitely not on the list since 1969
@Edel Boyle: Repeating yourself isn’t going to move her name up the list, Edel! I’m kidding, congrats and it’s a lovely name!
embed the maps next time lads
I know 6 Noah’s. I have a Jack and dont know another one
@AnnieBelle: all noahs look the same
@AnnieBelle: I heard a fellow in the Rotunda with a really strong Cork accent whose wife just had a boy.
A nurse asked him if they’d come up with a name for their baby boy, “Noah”, he replied. “I’m sure you’ll think of something” the nurse said”… He looked at her like her two heads, “Noah, that’s his name, like”
What is it about giving children shortened names? Charlie instead of Charles, Katie instead of Katherine. I thought only the Americans do that. One day Charlie will be 40 year old, maybe inposition of authority. I mean name them properly and then call them Robie if you want!
I’d a little girl last Jan and named her Mary-Anne definitely not on the list since 1969 lol
Jack was No. 1 and Daniel(s) was No. 5. Did any parents with the surname Burbon name their baby son Jack Daniels?
Obviously made a mistake with my Daughter Emily 2012, but not with Ben 2007
I have a little girl last January and called her Mary-Anne definitely not on the list since 1969
@Edel Boyle: when the Journal says there’s a problem posting you comment they are lying. Does it all the time, just ignore it
have your say