Louth first-time buyers now need almost €84,000 salary to get on the property ladder

First-time buyers in Louth face major affordability challenges, with new analysis from Chill showing a single applicant would need to earn at least €83,942 to qualify under Central Bank mortgage rules – more than double the county’s median income of €40,038.

Chill’s study compared median first-time-buyer home prices in every county with median local incomes, applying Central Bank limits of 90% loan-to-value and a maximum loan of four times gross income. The findings show that no county in Ireland is affordable for a single buyer on the national median salary of €43,221.

In Louth, the median first-time-buyer home price now stands at €373,075, leaving an income shortfall of €43,904 for a typical single buyer.

The affordability gap in Louth:
• Median price for first-time-buyer home: €373,075
• Median Louth income: €40,038
• Salary required under mortgage rules: €83,942
• Income shortfall: €43,904

Dublin, Wicklow, and Kildare remain the three least affordable counties, followed by Louth and Meath to complete the top five.

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Ian O’Reilly, Head of Personal Lines Sales at Chill, said: “The research highlights just how difficult it has become for first-time buyers in Louth. With borrowing limits capped, the gap between what buyers earn and what’s needed under the rules is substantial. For many, the only viable path is to combine salaries, buy at a lower price point or seek a mortgage exemption.”