Almost half of people in Ireland say 25 – 29 is the ideal age for buying your first home - report

Almost half of people (46pc) in Ireland believe that the best age to purchase a first home is between the ages of 25 – 29, over a decade younger than the national average of 39 years according to the most recent Central Statistics Office (CSO) report.

These findings are from the latest survey by Royal London Ireland one of Ireland’s leading life insurance and pension companies. The research polled 1,000 adults nationwide and found that one-third (36pc) deem the ideal age to be between 30 – 34, and just 7pc consider the prime home-buying age to be between 35 – 39.

Declan Purcell of Royal London Ireland Meath spoke of the findings,

“There are 10,351 in the 25 – 29-year age group in Meath – which according to our survey are the ideal First-Time Buyer group. And while in 2023 there were 961 property purchases by First Time Buyers, it’s probable that if national statistics are anything to go by, the average age of these buyers would have been closer to”.

Notable highlights from the Royal London survey include:

More than nine in ten (91pc) people in Ireland believe that individuals should purchase their first home before the age of 35.

Men are slightly more likely to believe the ideal age for home buying is below 30 (59pc male vs. 52pc female respondents)

The older generation (55+) is more inclined to believe that people should own a home in their 20s compared to those aged between 25 - 34 (64pc vs. 50pc respectively).

Mr Purcell commented:

“Life was vastly different for older generations, now over the age of 55, compared to today. In the 1970s, average house prices were €14,162, and in the 1980s, they were €45,223, according to historical data[6], compared to 2024's figures of €330,000. The context for buying is also very different given wage inflation has not kept up with house price inflation – according to CSO the average industrial worker needs more than seven times their salary to buy a house today, compared to four-and-a-half times their salary in 19736. Such substantial changes in housing affordability and the purchasing power of consumers undoubtedly shape the housing realities for different generations”.

Almost half of respondents (47pc) to the Royal London Ireland survey said that under 25 is the best age to move out of home, while four in ten (42pc) say that between 25 and 29 is ideal.

Almost nine in ten (89pc) people who responded to the survey said, that by the time you have reached the age of 30, you should have been able to move out of your family home.

Mr Purcell added:

“The findings indicate a discrepancy between societal expectations and real-world circumstances. It's clear that while nine in ten people advocate leaving home by 30, practical challenges such as housing affordability and financial constraints often leave individuals no choice but to continue living at home”.