The proportion of dwellings purchased with a mortgage in Ireland in 2021 was 63%, a fall from a series high of 65% in 2019, CSO data shows.

South Dublin had the largest proportion of mortgaged transactions in 2021, at 77%.

The median price paid for a dwelling purchased with a mortgage was over 40% higher than a dwelling purchased without a mortgage (€309,000 as opposed to €220,000).

Dún Laoghaire-Rathdown was the region with the highest median price for both mortgage and non-mortgage purchasers at €610,000 and €560,000, respectively.

This region has the highest median price for both mortgage and non-mortgage purchasers each year since 2016.

The median loan amount was €220,000 in 2021 in comparison with €213,600 in 2020.

Mortgage-buyer ages

Buyers with a mortgage had a median age of 37, compared with 47 for those who purchased without a mortgage.

The highest median age of purchasers with a mortgage was 40 in Kerry, while the lowest was 35 – in Kildare and Meath.

The median income of a buyer with a mortgage was higher at €79,200 compared with €49,900 for a buyer without a mortgage. 

Statistician Seán O’Connor said that the data provided estimates and insights into cohorts who purchase dwellings, with and without a mortgage.

Mortgage purchasers strongest

Mortgage purchasers tended to account for a greater proportion of transactions in the residential property market. This cohort is younger, has higher income, and purchases more expensive dwellings than their non-mortgage counterparts, he explained.

In 2021, the analysis shows that most (63%) of residential dwellings were purchased with a mortgage. This compares with a figure of 57% in 2010, and a low of 44% in 2013.

The highest proportion of residential dwellings purchased with a mortgage was 65% in 2019.

Areas such as south Dublin, Fingal and Kildare had some of the highest proportions of transactions involving mortgages at 77% and 74% (jointly for Fingal and Kildare), respectively.

In contrast, more rural areas, such as Donegal and Leitrim, had a lower proportion at 35% and 41%, respectively.

Prices and mortgage amounts

In 2021, the median price of a residential dwelling was €280,000, with a large variation when analysed by type of buyer and region.

The median price of a dwelling purchased with a mortgage was €309,000 compared with €220,000 for those purchased without a mortgage. This was an increase on the 2010 figures which were €247,000 and €191,000, respectively.

The highest median price for purchasers with a mortgage were in:

• Dún Laoghaire-Rathdown (€610,000),
• Wicklow (€400,000), and
• Dublin city (€395,000).

These areas also had some of the highest median prices for buyers without a mortgage, at €560,000 in Dún Laoghaire-Rathdown, €380,000 in Dublin city, and €355,000 in Fingal.

Dún Laoghaire-Rathdown purchasers had the highest median mortgage loan at €378,000, followed by south Dublin at €290,000.

Dún Laoghaire-Rathdown also had lowest loan-to-value share at 62%. Laois, in contrast, had the highest share at 81% in 2021.

Age and income

The median age of purchasers increased from 35 to 39 between 2010 and 2021, across all transactions.

For purchasers with a mortgage, the median age rose from 33 to 43 between 2010 to 2021. The median age for purchasers without a mortgage increased from 43 to 47 over the same period.

In 2021, the highest median age of purchasers with a mortgage was 40 in Kerry, while the lowest was in Kildare and Meath at 35. For purchasers without a mortgage, the highest median age was in Wexford, at 55, while the lowest was in Kildare and South Dublin, at 40.

Overall, the median income of purchasers was €71,300 in 2021.

The median income for buyers with a mortgage was €79,200, while it was €49,900 for buyers without a mortgage.

Dún Laoghaire-Rathdown had the highest median income for buyers with a mortgage which was €126,900 in 2021.

This was followed by Dublin city at €93,300.

Longford was the region with the lowest median income of a buyer with a mortgage, at €56,000. The county also had the lowest median income of a buyer without a mortgage at €33,600, followed closely by Monaghan at €33,900.