Location is the key for first step on ladder

Buyers face daunting task in saving funds

- BY CIARA O'LOUGHLIN

LEITRIM is the easiest county for residents to get on the property ladder, with buyers needing on average an €18k deposit.

Chill Insurance analysed average house prices in the 26 counties and the average income in each to determine how long it would take to save for a deposit.

Using the national saving average rate of 12.7% per annum, it found a single person in Leitrim could save for a house deposit in three years and nine months.

The county had the lowest house prices in the country with an average of €186,487.

Dublin is the most expensive with the average price being over three times this at €614,012.

Average incomes in the capital are significantly higher than the national average at €55,326.

However, it would still take someone on this income eight years and nine months to save a deposit of €61,401.