Affordability Crisis: Kildare Among Toughest Areas For Couples Earning €107k To Buy A Home

Wednesday, 14 August 2024 10:37

By Martin Osborne

A recent SCSI study examined whether a couple with a combined income of €107,000 could afford a new three-bedroom semi-detached home in five areas, including Kildare.

Kildare has emerged as one of the areas where prospective home buyers are struggling the most to get on the property ladder.

A recent SCSI study examined whether a couple with a combined income of €107,000 could afford a new three-bedroom semi-detached home in five areas, including Kildare.

The SCSI's analysis considered the couple's borrowing capacity at 3.5 times their income, even though recent changes to Central Bank rules now allow first-time buyers to borrow up to four times their income.

It found, however, that the couple could only afford a home in Meath, and only with additional support from the First Home Scheme (FHS).

SCSI spokesperson Gerard O'Toole highlighted the challenges, noting that even with government schemes, many first-time buyers in Kildare are being priced out of the market.

"Last year our case study 'couple’ could buy in three locations without the support of the First Home Scheme (FHS). This year a new home is only affordable in one and that is with FHS support, so the widening affordability gap is a real concern," he said.

He added: "While buyers with savings should be able to overcome the gap in Meath, Galway and Cork, new three-bed homes in Wicklow and Kildare remain totally out of reach for people on these salaries."

More from Local News

Uisce Eireann Says No New Connection Works at Ryevale House, Leixlip

The organisation confirmed the news today in response to Soc.Dems Kildare T.D. Aidan Farrelly
Local Authority Tenants Must Get Permission Before Installing Video Doorbells, Says Kildare Council

The council says it will allow video doorbells, including Ring-style devices, only if prior approval is given, cameras are limited to the tenant’s own property, and do not record public roads or neighbouring homes.
Nearly €400,000 Owed On Derelict Buildings In Kildare-Newbridge District Alone

Some of the buildings already taken over by the council include the Old Band Hall on Cutlery Road in Newbridge, the former Bargain Store in Kildare Town, and the former Garda station on Leinster Street in Rathangan.
After Fertility Loss, Care Barriers Remain For Women With Endometriosis, Says Local Woman

Audio

Speaking on Kildare Today, Ms Whelan said she learned last July that the condition had left her unable to have children.
Over €200,000 Awarded To The Conservation Of Three Historic Buildings In Kildare

The funding supports the repair, restoration and protection of historic structures from traditional homes to landmark public buildings
€8.5m Wastewater Upgrade To Enable 900 New Homes In Celbridge, With Traffic Disruption Until May

The works involve the installation of over two kilometres of new wastewater pipeline between the Castletown Wastewater Pumping Station and Crodaun, passing through Castletown Estate, Castletown Drive and the R405 Maynooth Road.
Four New Bus Shelters Approved For Athgarvan And Maddenstown, Pending NTA Delivery

In response to a question from Social Democrats Cllr Pat Balfe, the council confirmed works are also underway on Local Link routes 821 and 880, including upgrades at six bus stops.
Two Men Arrested In Garda Operation Targeting Burglaries

The investigation looked into more than 40 incidents, including thefts, deception and unauthorised takings of vehicles, in Dublin and across the country last year.