The median age of Irish first-time buyers is 29, according to research released today by the Irish Mortgage Corporation.
The median age has remained fairly constant over the past number of years, although there was a slight increase in the number of first-time buyers aged 25 to 29 in the first six months of this year.
There was a reduction in the number of first-time buyers over the age of 45 and below 25 years in the first six months in comparison with the second half of last year.
The Irish Mortgage Corporation said most first-time buyers tended to opt for long-term mortgages of up to 35 years but that, as their financial situations improve, borrowers tend to reduce the term of the loan or switch to better rates.
The company said that the mortgage market for first-time buyers has been positively influenced by increased competitiveness in the housing market and by increases in mortgage relief.