61% of People in Ireland own their Homes either with or without a mortgage
Renting in Ireland: Financial Constraints and Flexibility Drive Choices, according to new Aviva research
Monday 21 April 2025, Dublin: A recent omnibus survey conducted by Aviva Insurance Ireland DAC (Aviva) has shed light on the current housing situation in Ireland. The research*, which surveyed 1,000 people nationwide, found that 61% of respondents own their homes, with 32% owning them outright and 29% having a mortgage. Meanwhile, 24% of people are renting in the private rental market, 8% are living with family or friends without paying rent, and 7% are living with family or friends while paying rent.
The Aviva survey found:
- Unsurprisingly, 70% of those aged 55+ own their home outright with no mortgage.
- While 48% of 45-54-year-olds own their home with a mortgage, some 19% of those aged 55+ continue to have a mortgage.
- 23% of 18-24-year-olds are living with family/friends and not paying rent, with a further 21% of that age cohort living with family/friends and paying rent.
The survey also delved into the reasons behind renting. The largest group of renters (34%) are saving for a future home purchase, highlighting the ongoing aspiration for homeownership. However, nearly one in three survey respondents (29%) cited the lack of affordable housing options as the primary reason for renting. Ongoing financial constraints are also a significant factor impacting the housing market, with 23% of renters believing they will never be able to buy a home. Interestingly, 14% of respondents prefer renting, with 6% of them valuing the flexibility and greater mobility that it offers them.
- Financial constraints preventing respondents to aspire to buying their home was highest amongst those aged 55+ at 45% and amongst women 28% v’s men at 19%.
- More men (38%) than women (29%) are currently saving for a future home purchase, highest amongst those aged 18-24 at 56% and those aged 25-34 at 43%.
- Lack of affordable housing options to buy is evident across all age cohorts, and higher amongst female respondents (33%) than men at 26%.
Our research highlights the extent of home ownerships and the diverse reasons behind renting in Ireland today. While many people who are renting are doing so in the hope that they can save enough to get on the property ladder, it would appear from the research findings that there is a dearth of affordable properties available in the market for first time buyers.
Julie Frazer, Underwriting Product Lead at Aviva, commented on the findings.
“We understand the challenges faced by those aspiring to own a home, particularly as many are renting in the private rental market whilst trying to save. However, it is also important to recognise that for some, renting is a conscious choice that offers flexibility and mobility,” concluded Julie Frazer.
*The research was carried out by iReach Insights on behalf of Aviva