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ALMOST THREE IN 10 non-homeowners want to own a home but don’t think they ever will, according to a new housing survey by the Banking & Payments Federation Ireland (BPFI).
The survey, which looks at people’s housing circumstances and expectations, shows continued strong aspiration for homeownership and demand for homes to buy in Ireland.
About two-thirds of respondents (63%) said they owned their own home (owner occupiers), and about 85% of all non-homeowners said they expected or wanted to buy a home.
About two-thirds of younger respondents under the age of 35 plan to move in the next five years. Some 40% of that age group expect to buy during that time.
For six in 10 homeowners, this is the first home they have owned by themselves or with someone else.
About one third (30%) of respondents said they owned their home with a mortgage.
Some 17% of homeowners with a mortgage expect to own without a mortgage five years from now, increasing to 31% 10 years from now.
Almost three in 10 (29%) non-homeowners want to own a home but don’t think they ever will.
Under 35s are more optimistic about buying a home within the next 10 years (63%).
In terms of movement within the housing market, the survey indicates that the future housing plans of respondents are heavily influenced by their current housing situation.
While over half (56%) of adults have no plans to move, this rises to over 70% of owner occupiers.
About six in 10 (59%) of adults have lived at their current address for more than 10 years, including 70% of owner occupiers.
Among non-homeowners, however, 57% expect to move in the next three years, rising to 69% in the next five years.
“Housing is a key issue for society but also for every household in Ireland,” BPFI chief executive Brian Hayes said.
“Today’s survey results confirm again that owning your own home is an important goal for many people,” Hayes said.
“This shows there is a strong demand for both new and second-hand homes. Mortgage lenders are working hard to meet that demand with more than 30,000 first-time buyer mortgages approved in the 12 months ending August 2023 as well as about 12,000 approvals for home movers over the same period,” he said.
Hayes said the survey “also helps to enhance our understanding of movement within the housing market in Ireland”.
“Almost three quarters of owner occupiers have been living at their current address for more than 10 years and a similar share of owner occupiers have no plans to move,” he said.
“This indicates that for most people who own their own home it is their ‘home for life’ and underscores the importance of the decision when choosing a home to buy.”
The survey was carried out by Amárach Research on behalf of BPFI in July 2023.
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Captain Scarlet was some of the best children’s entertainment ever made. It wiped the floor with Bosco.
RIP m’lady
Home Parker! :’(
Thunderbirds are not Go anymore.
Hard to believe today how many of us watched these puppets after school on UTV kids TV in the 60s and 70s. They were kind of wooden but it worked!
I was terrified of those things
Sad news she will b sadly missed
More and more of my childhood and teen entertainers gone …….. Jeez, I’m feeling old!
Home Parker! :’(
It was great with the visible strings, but when they blanked them out then it was too CGI for me
Didn’t she also create Jack Chambers?
From that first photo, I’ll have the sex scene from Team America in my head all day.
Rip. Still remember the first time I saw joe90. Memories
Not to forget UFO and Space 1999 – Leading lights in live action SCIFI
have your say