DUBLIN, Ireland–One quarter of adults in Ireland are living in unsuitable homes but cannot afford to move, according to a nationwide survey conducted by the Irish League of Credit Unions (ILCU).
The survey found that 25% of adults are living in residences that no longer suit their needs.
While 28% of 18-34 year olds felt they didn't have the finances to leave their unsuitable homes, 26% of the 35-54 year old age group voiced similar sentiment, according to the survey.
The survey further found that adults in Ireland are spending more on home improvements with almost a fifth splashing cash to extend their home, either with an attic/garage conversion or a built-on extension.
According to the survey, almost two thirds of adults in Ireland have carried out home improvements in the past three years, according to the Independent.
ILCU Head of Marketing and Communications Emmet Oliver said that 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," he told the Independent.
Most of the adults surveyed said that the area they most wanted to change in their homes in 2017 is the kitchen (21%), followed by the bathroom (18% ) and living room (16% ).
The credit union survey further found Close to half (42%) of respondents said they would not have €1,000 set aside for an emergency home repair, according to the CU survey.