Ireland's Housing Crisis: Gen Z and Millennials Delay Life Decisions Amid Unaffordability

Ireland, once deemed «no country for old men» by WB Yeats in 1926, has transformed significantly. Life expectancy has risen from 57 to 81.2 years, and real national income per capita increased over 140 per cent in 30 years. However, rapid growth has strained infrastructure, particularly housing, disproportionately affecting younger generations.

Deloitte's 15th Gen Z (18-30) and Millennial (31-43) survey across 44 countries revealed that over half of respondents delay major life decisions due to financial pressures. In Ireland, 62 per cent of Gen Z and 49 per cent of Millennials cannot afford to own a home, significantly higher than global averages (51 per cent and 40 per cent). The ratio of median house price to median household income in Ireland has surged from just over three in 1996 to eight, indicating «severely unaffordable» housing.

While older generations have benefited from rising house prices, leading to a series high in Irish household net wealth, younger households (under 35) are the only group to experience a wealth decline since 2020. The average age of first-time homebuyers has increased from 35 in 2010 to 40 in 2025. Nearly eight in 10 Gen Z respondents reported housing constraints impacting career decisions.

Globally, financial constraints cause one in two Gen Z and Millennials to delay marriage and starting families. In Ireland, the average age of first-time mothers rose from 28.7 in 2005 to 31.8 in 2025, and the average age for heterosexual marriage has increased by three years in a decade. Despite these challenges, Ireland boasts a highly educated workforce, with six in 10 in the 25-34 age group holding a third-level qualification. Graduates' purchasing power has increased by 36 per cent since 2013, allowing them to afford more goods and services, though not necessarily homes. Solving the housing crisis is crucial for the youth to flourish.