RIP Laura Buckley Noonan
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06 Sept 2025
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06 Sept 2025
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New research by Switcher.ie has revealed Leitrim as the most affordable place for first-time buyers in Ireland, with the least amount of time to save for a deposit.
A Switcher.ie survey found that people could expect to spend 2.5 years saving for a property in Leitrim while the average time could be up to 4.6 years.
The median house price for first-time buyers from 12 months to December was €340,00. Despite mortgage activity declining during 2023, first-time buyer mortgages remained buoyant, accounting for around 63% of the market. The average first-time buyer drawdown was €282,084—the highest level since records began in 2003.
Switcher.ie's Affordability Index reveals the most affordable areas for joint and sole buyers purchasing an apartment based on how long it would take to save for a deposit in each RPPI region.
Longford, Roscommon, Sligo and Mayo are in the five most affordable areas and take, on average, 2.9 years to save for a deposit.
Dún Laoghaire, Wicklow, Dublin, Kildare, South Dublin, Fingal, Dublin City, Galway City, Meath and Louth are the ten least affordable places and take, on average, 9.8 years to save for a deposit.
In 2023, 60% of Ireland's new builds were built in the ten most expensive areas and regions, in contrast to the cheapest areas, which only attracted 12% of new dwellings. This disadvantages first-time buyers who want to avail of Help to Buy schemes.
The savings figures are based on average annual earnings, house prices and household saving rates.
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