Cork Home Buyers Face Six Year Wait to Save for a Deposit

Imagine you live at home and save money well. You also have a good job in Cork. Saving for a house deposit will still take time. Expect about six years, at least. This is only feasible if house prices stay stable. Unexpected costs can also slow you down.

Chill Insurance did a survey about house deposits. Cork ranks as the fifth most expensive county. A ten percent deposit on a house there costs around €35,000. If you save €5,900 each year, it takes around six years.

Dublin is way worse and you would need nine years to save the ten percent deposit because houses cost about €614,000. After Dublin, Wicklow, Kildare and Meath are toughest. Then, Cork follows closely behind them.

Chill Insurance looked at housing data and analyzed trends from 2010 to 2024. They figured out the average house price per county. Then, they calculated a typical deposit of ten percent.

Dublin needs the longest saving time. It is also the least affordable place. The average deposit is €61,401. Saving €7,206 yearly means nearly nine years, specifically eight years and nine months.

Wicklow and Kildare are also challenging. Wicklow requires seven years and three months. Kildare needs six years and five months.

Leitrim has a deposit that’s easiest to save because houses average around €186,487. If you save €4,931 each year, it can take less time. Plan for just three years and nine months.