First-time buyers needed average deposit of €52,000 in first half of 2021

Rising house prices are driving deposit amounts, according to the Banking and Payments Federation Ireland

7th December, 2021
First-time buyers needed average deposit of €52,000 in first half of 2021
Inheritance and the proceeds from the sale of a previous property are significant sources of deposits for mover purchasers. Picture: RollingNews.ie

The average deposit needed to buy a home in the first half of 2021 was €52,100 for a first-time buyer and €135,000 for a mover purchaser, according to the Banking and Payments Federation Ireland.

The latest market monitor found that the main source of deposits came from purchasers’ own savings, but that nearly 42 per cent of first-time buyers used gifts as part of their deposit with 25 per cent of mover purchasers using gifts in...

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