Experimental statistics


First time owners

Summary

Statistics Iceland publishes figures on first time property owners aged 18-34 years. The data offers a good overview over first time owners in recent years and their demographics.

Description

Those who were first time owners and were registered at Register Iceland at the time of purchase are included in the data. The figures are broken down by age, sex and education.

Objectives

Due to demand for housing statistics and more extensive coverage, Statistics Iceland publishes figures for first time owners to give better information about those who are acquiring their first property. In this way, more knowledge is gained regarding the demographics of first time buyers.

Most individuals acquire their first property before the age of 30

Updated: 8 July 2020

Acquiring a property for the first time is least common for 18 years olds but becomes more common with age, culminating for 27 and 28 years olds and decreasing thereafter. This can be seen by the proportion of first time buyers of the average population by age.


Insolvencies

The proportion of first property owners is similar by sex in the period 2017-2019 but is highest for women in the ages of 27 and 28 years old when broken down for sex and age. In this context it is worth mentioning that the average age of first time mothers in Iceland is around 28 years old. (Mean-, median and modal age of parents 1961-2019. px-table)


Insolvencies

Of first time owners in 2018, 72% shared ownership with someone else but 28% had full ownership. Of those who had full ownership, 61.2% were male but 38.8% female.

Few women with basic education buy alone as first time owners.

Examining first time owners in 2018 by sex and education level on the time of purchase shows that 38.9% males with basic education had full ownership but only 14.7% females. The proportion is more even at a higher education level, with 28.0% of men with university level education having full.


Insolvencies


Metadata

The data covers all individuals aged 18-34 years at the time of purchase registered at Register Iceland, the first registered property in the period 2017-2019 according to the property registry and taking ownership of a property which as a minimum had reached the building stage where it was ready for interiors, alone or with someone else where their ownership is either 50% or 100%.

No distinction can be made between property purchases and inheritance.

Level of education is estimated using Statistics Iceland’s educational data which is available up until the year 2018. The analysis is made using the highest level of education on the date of purchase. Level of education is classified using the ÍSMENNT2011 classification system (pdf).