The average age has risen from 25 since the end of the boom in 2008 while the average age of a first-time buyer is now 34. Read MoreAnd the average age that young people leave the parental home has risen from 25 to 28 currently. The latest ‘Housing Market Monitor’ shows housing activity has been strong this year, but it could take at least until 2024 before supply comes close to meeting demand. Mr Hayes said that while supply is increasing, “the mismatch between current demand, as well as pent-up demand, and the supply of new homes seems to have brought average sale prices relatively close to the peak of the previous cycle in 2007 in terms of sale prices. “While the gap between current demand and supply had been narrowing before the pandemic, the delayed response in supply is creating latent demand for future years.”Property prices are back close to 2008 levels.

Source: Irish Independent June 10, 2021 01:30 UTC