House prices report: How much salary you need to buy a house in Ireland?

The cost of owning a home in Ireland is quickly on the rise alongside the cost of the necessities.

The latest report found that nationally, housing prices rose 5.3 percent in the second quarter of 2022, 3.4% in Dublin, and 6.1% elsewhere around the country.

According to a new report published by property website MyHome, the average asking price of a home nationwide is now €320,000 – and an even higher €403,000 in Dublin.

Depending on where you want to purchase your family home, the prices vary greatly from city locations to rural country living.

The report looked at the average asking price for a three-bed semi-detached house in every county in Ireland, showing prices from as low as €116,250 in Longford to a whopping €385,000 in Wicklow.

The author of the report, Conall MacCoille, Chief Economist at Davy, said that 2022 should be a year of two halves, with price inflation slowing down in the second half of the year. “Double-digit inflation and sharp price gains are set to give way to greater concerns on affordability, the economic outlook and the impact of the ECB raising interest rates.”

Based on My Home’s report, what salary a single person would need to be on in order to qualify for a mortgage in every corner of Ireland.

Here is what you would need to be earning in order to afford a semi-detached, three-bedroom home in each county of Ireland:

Dublin

Average cost of a three-bed semi-detached house: €365,000

Up 7,35% on last year

Deposit needed: €36,500

Salary needed: €93,857

Carlow

Average cost of a three-bed semi-detached house: €215,000

Up 9.14% on last year

Deposit needed: €21,500

Salary needed: €55,286

Cavan

Average cost of a three-bed semi-detached house: €185,000

Up 23.33% on last year

Deposit needed: €18,500

Salary needed: €47,572

Clare

Average cost of a three-bed semi-detached house: €217,000

Up 9.05% on last year

Deposit needed: €21,700

Salary needed: €55,800

Cork

Average cost of a three-bed semi-detached house: €265,000

Up 6% on last year

Deposit needed: €26,500

Salary needed: €68,143

Donegal

Average cost of a three-bed semi-detached house: €140,000

Up 12.9% on last year

Deposit needed: €14,000

Salary needed: €36,000

Galway

Average cost of a three-bed semi-detached house: €245,000

Up 4.26% on last year

Deposit needed: €24,500

Salary needed: €63,000

Kerry

Average cost of a three-bed semi-detached house: €195,000

Up 8.33% on last year

Deposit needed: €19,500

Salary needed: €50,143

Kildare

Average cost of a three-bed semi-detached house: €249,475

Up 8.72% on last year

Deposit needed: €24,947

Salary needed: €64,151

Kilkenny

Average cost of a three-bed semi-detached house: €205,000

Up 9.33% on last year

Deposit needed: €20,500

Salary needed: €52,715

Laois

Average cost of a three-bed semi-detached house: €185,000

Up 5.71% on last year

Deposit needed: €18,500

Salary needed: €47,572

Leitrim

Average cost of a three-bed semi-detached house: €165,000

Up 18.71% on last year

Deposit needed: €16,500

Salary needed: €42,429

Limerick

Average cost of a three-bed semi-detached house: €225,000

Up 0.00% on last year

Deposit needed: €22,500

Salary needed: €57,858

Longford

Average cost of a three-bed semi-detached house: €116,250

Up 16.25% on last year

Deposit needed: €11,625

Salary needed: €29,893

Louth

Average cost of a three-bed semi-detached house: €225,000

Up 9.76% on last year

Deposit needed: €22,500

Salary needed: €57,857

Mayo

Average cost of a three-bed semi-detached house: €170,000

Up 13.71% on last year

Deposit needed: €17,000

Salary needed: €43,714

Meath

Average cost of a three-bed semi-detached house: €275,000

Up 14.58% on last year

Deposit needed: €27,500

Salary needed: €70,714

Monaghan

Average cost of a three-bed semi-detached house: €175,000

Up 12.90% on last year

Deposit needed: €17,500

Salary needed: €45,000

Offaly

Average cost of a three-bed semi-detached house: €175,000

Up 2.94% on last year

Deposit needed: €17,500

Salary needed: €45,000

Roscommon

Average cost of a three-bed semi-detached house: €137,500

Up 44.74% on last year

Deposit needed: €13,750

Salary needed: €35,357

Sligo

Average cost of a three-bed semi-detached house: €182,500

Up 21.67% on last year

Deposit needed: €18,250

Salary needed: €46,929

Tipperary

Average cost of a three-bed semi-detached house: €185,000

Up 15.63% on last year

Deposit needed: €18,500

Salary needed: €47,571

Waterford

Average cost of a three-bed semi-detached house: €200,000

Up 8.11% on last year

Deposit needed: €20,000

Salary needed: €51,429

Westmeath

Average cost of a three-bed semi-detached house: €200,000

Up 11.14% on last year

Deposit needed: €20,000

Salary needed: €51,429

Wexford

Average cost of a three-bed semi-detached house: €200,000

Up 11.11% on last year

Deposit needed: €20,000

Salary needed: €51,429

Wicklow

Average cost of a three-bed semi-detached house: €385,000

Up 10.95% on last year

Deposit needed: €38,500

Salary needed: €99,000

Leave a Comment

%d bloggers like this: