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Saturday 2 December 2023 Dublin: 2°C
property ladder

One in four adults are living in an unsuitable home but can't afford to move

Some are planning to extend or convert their home for more space.

ONE IN FOUR adults in Ireland are living in a home that doesn’t suit their needs but can’t afford to move, according to a new national survey.

The survey of 1,000 adults, commissioned by the Irish League of Credit Unions (ILCU), found that 28% of 18 to 34-year-olds and 26% of 35 to 54-year-olds are living in unsuitable homes but are prevented from moving due to the current property market.

Six in 10 (64%) respondents own the property they live in.

The survey, which also looked into home improvement and DIY trends in Irish households, found that almost a fifth of people are paying to extend or convert their home for more space.

Almost two-thirds of people who responded to the survey have carried out home improvements in the past three years. Four in 10 respondents said they would not have €1,000 set aside for emergency home repair.

Commenting on the results, Emmet Oliver of the ILCU said: “It’s troubling that such a substantial portion feel trapped in unsuitable homes, but say the current property market is preventing them from moving out.

While most express satisfaction with their long-term accommodation, of particular concern is that it’s not just younger generations who believe they are in a home that no longer suits, but a significant portion of the 35-54 age group also feel this way.

The survey found that laying down new carpets and flooring is the most popular home improvement, with 42% of people saying they were upgrading their homes in this way.

Installing new heating or insulation systems followed, with 38% of people intending to do this. Fitting new windows or doors was the third most popular home upgrade at 23%.

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