Galway first time buyers require over 15% of net income for mortgage

The average first time buyer working couple in Galway requires over 15% of their net disposable income to fund their mortgage. According to the latest EBS DKM housing index, affordability is now at levels last seen at the end of 2008. The index reveals that 1,459 homes were bought in County Galway last year, with an average price of 135 thousand euro. The average earnings for a first time buyer working couple in the county is just under 68 thousand euro – 16 thousand euro less than in Dublin. Nationally, housing affordability has remained stable over the last year – with just over 19.3% of net income for a working couple purchasing the average property. Dublin remains the least affordable county in which to buy a house - the average price of a home in Dublin stands at over 234 thousand euro. The post Galway first time buyers require over 15% of net income for mortgage appeared first on Galway Bay FM.