Combined salary of €113k not enough to buy a three-bed semi

A COMBINED salary of €113,000 a year will still leave a three-bed semi in Co Kildare out of the reach of couples trying to buy a home. That’s according to the Society of Chartered Surveyors Ireland (SCSI), which says that the combined salary would leave the couple €25,000 short of being able to afford the average three-bed semi, which now costs €530,000 in Kildare.

This is only expected to worsen over the next 12 months as the SCSI predicts national property prices to rise by an average of 5% in that time.

This came to light after the society’s latest ‘Residential Mid-Year Market Monitor’ was released recently.  With property prices nationally having increased by 181% from their lowest ebb in early 2013, according to the CSO, the SCSI included four scenarios involving a couple earning a combined gross income of €113,000 in the latest monitor.

The scenarios demonstrate the affordability gap, if any, between the total mortgage purchase limit available to the classic couple on garda and nurse incomes looking to buy their first home, based on new house median purchase prices in Kildare, Meath, Wicklow and Cork.

According to these scenarios, a couple on a combined gross salary of €113K who want to buy a new privately built three-bedroom semi-detached home and who have the 10% deposit, having availed of the Help to Buy Scheme along with their savings, will be able to buy in only one of the four locations, namely Cork.

The case studies indicate prospective buyers in Kildare will face a shortfall of almost €25,000; in Wicklow it will be €20,500, while in Meath it will be €11,500.

The case studies also include affordability scenarios for two- and three-bed terraced houses in the four locations. However, the picture here (for that €113,000 salary) is much more positive, with affordability being met in all locations.

Emer Byrne, vice-president of the SCSI, who lectures in real estate, property economics and sustainability at TU Dublin, says the new figures show that affordability continues to be one of the defining challenges in the country’s residential market, particularly for family homes such as three-bed semis.

“While a new three-bedroom semi-detached home is affordable in Cork, new three-bedroom semi-detached homes in Kildare, Wicklow and Meath remain out of reach for people on these salaries,” she admits.

“The pattern that agents are seeing is a persistent divergence between income growth and property values, as the marginal gains in purchasing power are offset by property price growth wherever the demand is strongest. In addition, it has to be remembered that there are thousands of people on lower salaries who will not be able to buy and who will require support.

“Affordability remains a significant concern, particularly for first-time buyers seeking family-sized homes in commuter counties.

“The survey findings suggest that while government support schemes continue to assist some purchasers, rising house prices have outpaced improvements in purchasing power in several key locations.” 

An astonishing 92% of SCSI agents believe current residential property prices are ‘expensive or very expensive’ – up 8% since January – while just 6% believe they are currently fair value, down from 12% a year ago.

When asked where they believe we are in the market cycle, two out of three respondents (64%) believed prices are increasing but will level off soon – while 18% believed they have peaked and should start to decline.

Most agents reported stable or easier lending conditions in the residential market in the first six months of 2026. Almost half (48%) saw no change and a further 39% highlighted a slight improvement. That steady flow of credit is one of the main forces keeping purchasers’ activity firm.

Ms Byrne says the report indicates that the Irish housing market continues to be characterised by an imbalance between supply and demand and ongoing affordability pressures.

“While housing completions have increased and agents report a modest improvement in sales instructions, the availability of housing stock on the private market continues to fall short of requirements across many regions. Despite a moderation from previous survey findings, the level of new housing supply continues to be viewed as the most important determinant of future house price movements.” 

In the first half of 2026, 38% of agents cited the volume of new homes being built as the key factor shaping their 12-month house price expectations, while the next most commonly cited reason, changes in the state of the economy, was cited by 23% of agents.