Median age of lone home buyer has risen from 34 to 42

People are buying properties at an older age, according to new research from the Central Statistics Office.

The median age of sole purchasers of homes has risen to 42 in 2019, eight years older than in 2010, a report entitled Characteristics of Residential Property Purchasers 2010-2019 has found.

The data analysed for the report also reveals the median age of joint purchasers has increased from 35 in 2010 to 38 two years ago.

The median age of joint buyers without children was slightly younger, at 36.

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The median age for sole purchasers in 2019 varied when broken down by local authority, with the youngest (38 years) in Dublin city and the oldest (50 years) in Kerry.

Kerry also had the oldest median age of joint purchasers (44), while couples buying in south Dublin were the youngest, at 35 years.

The median combined income of joint purchasers was €81,500 in 2019, while it was €42,600 for sole purchasers. Couples with a child or children purchased the most expensive properties, with a midpoint price of €295,000 in 2019.

However, almost two-thirds of purchases were by people without children.

Joint purchasers represented 62 per cent of residential property buyers in 2019, compared to 47 per cent nine years previously.

However, couples made up a far higher proportion of buyers in more expensive areas, with 76 per cent of homes sold in south Dublin going to joint purchasers.

By comparison, almost half (49 per cent) of residential properties sold in Longford went to single buyers.