These 5 figures help explain what’s happening in the mortgage & property market in Ireland.
1. What is the average income of a newly mortgaged first time buyer?
€95,000 — The average household income of a mortgaged first-time buyer is now around €95,000.
2. What is the weighted average new mortgage interest rate?
3.49% – the latest weighted average new business mortgage rate. Variable rates remain higher than fixed rates currently. Lowest rates in the market start from 3% and include Green mortgage rates where BER is an A or B rating.
3. What’s choice like when it comes to mortgage options in Ireland?
90% – There are over 10 mortgage lenders in the Irish market all offering different rate and underwriting terms. If you go to just one lender you miss out on what over 90% of the market has to offer and chances are you will not get the best rate for you.
At doddl we work with all major lenders and offer lowest market rate. We can help you source the best mortgage for your personal circumstances.
4. What’s second hand home supply like in Ireland?
50 years – Only around 2% of Ireland’s existing housing stock changes hands each year. Put another way, the average existing home changes hands roughly once every 50 years. This gets to the heart of the second-hand supply problem.
5. Are properties selling for over asking price still?
7–8% — Homes are selling approximately 7–8% above their original asking price, according to the latest MyHome report. The premium is even greater in Dublin at up to 9-10%. It shows that despite some improvement in advertised property numbers, buyer competition remains intense.
Navigating the property and mortgage market can seem like a real challenge. At doddl we are here to help, you dont need to know everything about mortgages because we do and we can support you from keys to enquiry!
Need advice, just ask -> www.doddl.ie
