Parliamentary Budget Office Report Warns of Rising Housing Insecurity Among Over-50s in Ireland
Dublin: A new report from the Parliamentary Budget Office highlights a growing issue among people over 50 in Ireland who are increasingly struggling with housing insecurity. Over 31,500 households have a primary applicant aged 50 or older on the social housing waiting list, reflecting challenges in securing affordable mortgage finance and the unsustainability of renting in later life. The report warns that the need for state support will likely grow as this population ages, leading to increased costs for appropriate housing, including specialist adaptations.
Recent census data reveals a decline in homeownership among those aged 65 and older, dropping from 87% to 83%, while the number of older people renting privately has risen by 83%. The charity Alone, which advocates for older people, reports a 40% annual increase in calls related to the housing crisis, with a six-fold rise in those seeking housing assistance.
The current pension system in Ireland, which assumes retirees will have lower housing costs, is becoming increasingly outdated as more people rent into their retirement years. A 2022 ESRI report indicates that the state may struggle to support the growing number of older renters, potentially leading to a significant increase in poverty among those aged 65 and older.
The social housing waiting list for people aged 70 or more has nearly doubled between 2013 and 2022, with nearly one-third of social housing occupants now over the age of 60.
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