At least there is one thing we can all agree on: there is an affordability crisis in the housing market. The price of a new home in Dublin for first-time buyers has nearly doubled, from €200,000 to €380,000, since 2012. This means a first-time buyer in Dublin needs an income of nearly €100,000 to purchase a home.
Dublin Eye
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Clearly, this is out of reach for the majority of workers. The median price of a house in Dublin is nearly 10 times average annual earnings (€39,753). In the last year, the pandemic has depressed earnings for a large cohort of people even further – making the gap even harder to bridge.