Galway Bay fm newsroom - Galway is one of the least affordable counties in Ireland for first time buyers who are saving for a deposit.
A report by EY DKM Economic Advisory has examined stark affordability contrasts seen nationwide due to differences in property prices and average household incomes.
The analysis finds Galway is one of the five least affordable counties with first time buyers requiring 8.3 years to save for deposit.
The top five affordable counties in Ireland for first-time buyers saving for a deposit are Leitrim, Waterford, Sligo, Cavan and Longford.
The report assesses affordability using two factors.
The first examines whether buyers can afford the mortgage repayments on a property based on a mortgage of 3.5 times their household income.
The second examines their ability to accumulate a sufficient deposit of 10% to purchase the property.
AT 10 ,hear EY spokesperson Annette Hughes who says affordability is moving outside big cities and towns....
