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Cost of running a household up 5% over the past year

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Conor Faughnan: Director of Consumer Affairs with AA.

The average cost of running a household in Ireland has reached almost €16,500 – almost half the average national wage – according to a newly-published report.

The AA’s ‘Annual Cost of Running a Home’ study has recorded a 5% increase on last year, which had been attributed to the significant rise in house prices nationally over the last year.

Director of Consumer Affairs with AA, Conor Faughnan said: “Our calculations are based on a typical Irish house and include costs for mortgage payments, energy and heating, repairs and maintenance.

“The recent surge in house prices affects the 2014 figures. This is partly off-set however by the fact that the typical Irish house has become more energy-efficient.

“The average price of a secondhand house in Ireland during the third quarter of this year was €193,000, up from €170,000 during the same period last year.

“As a result, those who a bought a home during July and September this year are shelling out just shy of €900 more per annum on average on their mortgage repayments compared to their counterparts who bought during the same quarter last year.

“While €900 is a stark increase, recent homebuyers are still dramatically better off each month on average than those who bought a home when property prices were at their peak in 2007.

“At that time the average national house price was €344,000, more than double current prices. As a result, those who bought their home during the peak on average hand over €5,580 more each year on their mortgage repayments alone than those who have recently bought a home,” said Mr Faughnan.

The AA calculates that it will cost €22,012 for those who purchased their home in 2007 to run their homes this year, €6,356 (39%) more than those who bought a new home in the third quarter of this year.

“While you’re locked into certain costs such as your TV licence, mortgage repayments and property tax you can certainly look for better value when it comes to the services you consume.

“When there are multiple players in the market – be it waste collection, electricity or insurance – they are all vying for your business so make sure to shop around and get a good sense of what each is offering,” said Mr Faughnan.

Arriving at the average figure of €16,432 for the year, the AA also factored in a fund for home maintenance and repairs, household cleaning products and the replacement of household appliances in accordance with their warranty periods.

In addition, the average costs of home phone and broadband, a basic digital TV package, the TV licence, the property tax and bin charges were also factored in.

Connacht Tribune

Galway café stars in ad series

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Graham O'Riordan and Jennifer Power outside their café.

The owners of a thriving Galway city café will feature in a new EU-funded advertising campaign – designed to reinforce consumer confidence in dairy products.

Jennifer Power and Graham O’Riordan, owners of the Little Lane Coffee Company, are one of seven foodservice outlets from across the country to feature in the new advertising campaign for the National Dairy Council.

The EU-funded campaign is supporting the foodservice industries impacted in Ireland, France, Denmark, Belgium and Northern Ireland during the Covid-19 Crisis.

Bord Bia estimated that the food industry in Ireland contracted by almost half during the pandemic crisis where restaurants, pubs, hotels, coffee shops, workplace, hospitals and educational canteens were all forced to close.

The campaign will be a mix of outdoor, print and online media and is designed to reinforce the impact and to restore the consumer confidence in dairy products.

Interestingly recent research undertaken by NDC showed a 48% increase in dairy consumption during the pandemic.

Nearly one third of young adults without children indicate that their consumption of dairy products has increased since the beginning of the Covid-19 lockdown.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

Over half of west’s adults have no will

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Almost six out of every ten people in the west do not have a will – and that’s in line with the national average of 59%.

And according to the Royal London’s “Let’s Talk About Death” survey, one-third of the population say they’ve been meaning to, but just haven’t gotten around to it.

The survey was undertaken as part of a campaign launched by Royal London, which aims to tackle the taboo surrounding death to encourage a vital dialogue on bereavement, to help people enjoy the time they have with those they love and to honour those lost.

Padraic Benson, Royal London’s Broker Consultant for Galway, acknowledged that it was understandable why many people are reluctant to discuss the topic of death and dying.

But he added: “this survey indicates that it’s hampering the necessary provisions to be made. While men appear to be slightly more prepared than their female counterparts, with 48% saying they have a will compared with just 34% of women, it still leaves over half the population unprepared.”

But the pandemic has helped to focus the minds of many, he said.

“Since the start of the pandemic, there have been 254,870 recorded cases of Covid-19 in Ireland, with 10,511 confirmed cases in Galway alone.  And when asked, 55% of people surveyed said Covid-19 had made them realise how important it is to have a will in place,” he revealed.

“While the survey results do show that most people have a sense of when they should make a will, it seems the majority aren’t following through with the necessary actions. Many people have the best of intentions, with 34% saying they’ve been meaning to get around to it. Others believe they are too young (25%) and many more, 23%, have just never thought about it.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

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Connacht Tribune

Council has no cash for tourism sector dig-out

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Cllr Evelyn Parsons

Hopes of a post-Covid helping hand for tourism interests in East Galway has been dashed by the local authority which said that any such leg-up could only be part of the budgetary process for later in the year.

The matter was raised by Cllr Evelyn Parsons at a recent meeting of Ballinasloe Municipal Council when she said that the east of the county needed to reap the economic benefits from the lifting of restrictions.

Cllr Parsons asked that a presentation be made to area Council members with a specific focus on works to develop, enhance and stimulate tourism growth for the area.

The independent councillor proposed that Director of Services Alan Farrell outline details of the various outdoor spaces and potential business opportunities to allow for the successful reopening of businesses, outdoor dining, drinking, retail, hospitality and outdoor entertainment as soon as possible.

Cllr Parsons also wants Director of Services Liam Hanrahan to consider short term and immediate measures with regards to sanitary and public needs should as portaloos, bins, benches, Covid-19 signage as well as outdoor power points.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

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