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Affordability Index
The EBS/DKM Affordability Index presents an analysis of changes in affordability for First Time Buyers in the Irish housing market.
February 2013
DKM and EBS issue Affordability Index for February
Housing affordability returning to levels last seen in the mid 1990s.
The cost of funding a mortgage, nationally, at the end of 2012, for the average first time buyer (FTB) working couple stood at 11.7% of their joint disposable income - significantly lower than the 26.4% recorded at the peak of the boom in 2006.
The average FTB property price nationally was estimated at €134,051 in December 2012 or 3.69 times average earnings. The corresponding estimate for Dublin was €170,114 or 4.25 times average earnings for Dublin FTBs.
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November 2012
DKM and EBS issue Affordability Index for November
House prices and interest rates continue to be main driver for affordability.
Key Highlights from November 2012 Index
- Residential property prices nationally are down 50% since their peak and 9.6% in the last year but have been broadly flat for the last 7 months.
- First Time Buyers continue to be the strongest segment, with 51.1% of new lending in Quarter 2, 2012.
- The average first time buyer working couple is spending 11.7% of their joint income to fund a mortgage, compared with 26.4% in December 2006.
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April 2012
DKM and EBS issue Affordability Index for March
2012 provides further improvement in affordability for First Time Buyers
Key Highlights March 2012
- Residential property prices nationally are down 48% since their peak and 16.7% in the last year.
- First Time Buyers continue to be the strongest segment, with 6,381 mortgage advances in 2011.
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November 2011
DKM and EBS issue Affordability Index for November
Affordability continues to improve despite falling incomes.
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June 2011
DKM and EBS issue Affordability Index for June
Funding a mortgage today will cost a First Time Buyer couple half of what it cost 5 years ago.
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January 2011
DKM and EBS issue Affordability Index for January
Average FTB working couple nationally in December 2010 using 12.6% of their net
income to fund a mortgage.
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May 2010
DKM and EBS issue Affordability Index for May
The EBS / DKM Affordability Index shows that the average first time buyer working couple is paying just 12.6% of their joint income to service their mortgage compared with 26% three years ago.
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January 2010
DKM and EBS issue Affordability Index for January
The EBS / DKM Affordability Index shows that housing is at its most affordable level in twenty five years for First Time Buyers.
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October 2009
DKM and EBS issue Affordability Index
The EBS / DKM Affordability Index shows that by December 2009, First Time Buyer monthly repayments will have fallen by €513 since July 2008 (on a national basis) - roughly 43%. However, negative equity fears and oversupply remain a concern.
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June 2009
DKM and EBS issue Affordability Index
Affordability - at 14% - is back to the levels of the mid-nineties.
The EBS / DKM Affordability Index shows that affordability for first time buyers continues to improve and that this trend is set to persist, despite reductions in incomes.
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November 2008
EBS/DKM Affordability Index November 2008
EBS/DKM Housing Affordability Index continues to show an improvement for first time buyers.
First Time Buyer Couple can save €2,600 when purchasing a home now compared with 2 years ago.
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April 2008
EBS/DKM Affordability Index April 2008 with an analysis of buying versus renting
EBS/DKM Housing Affordability Index continues to show an improvement.
Our analysis of renting versus buying shows a couple is better off buying today rather than renting if they retain their property for more than three years, even after allowing for a 10% reduction in average house prices over the course of 2008.
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January 2008
First Issue of EBS/DKM Housing Affordability Index for 2008
Stability in the Housing Market is Good News for First-Time Buyers' Affordability.
By December the average first time buyer working couple in Ireland was spending 22.6% of their net income on mortgage repayments, compared with 26.4% a year ago.