Revealed: Time it takes, on average, to save for a mortgage deposit in Kilkenny
Kilkenny ranks 17th out of 31 local authority areas when it comes to the length of time required to save up for a minimum mortgage deposit, new research from Switcher.ie reveals.
Sole buyers require an average of 3.7 years to save up for a minimum mortgage deposit in Kilkenny, whilst joint-buyers require an average of 1.6 years.
Nationally, Leitrim coined the top spot as the most affordable place for both joint and sole first time buyers.
With some of the cheapest house prices in Ireland, it would take just 18 months to save the minimum 10% deposit - even as a sole buyer.
Unsurprisingly, areas in Dublin were the most out of reach for sole and joint buyers, with Dún Laoghaire earning the title as least affordable place for both types of buyers.
If buying alone, it would take an eye-watering 20 years to save for a deposit for a home in Dún Laoghaire, and 14 years for a home in Wicklow.
The research showed that the most affordable places for first time buyers were not necessarily in the areas with the lowest house prices.
Although cheaper property prices help, having a comparably higher income makes your mortgage more affordable and deposits take less time to save.