How much does it cost to run a home in Ireland in 2016?

A new study shows that costs are up again after a fall last year...

If you bought your house at the peak of the boom in 2007, it's costing you an average of €21,900 to run your home this year.

After dropping for the first time in four years in 2015, the annual cost of owning and maintaining a family home has risen again to €16,611.14 – equating to about 45.39% of the current average Irish national wage, according to new figures from AA Home Insurance.

The increase in the cost of running a home comes following a rise in the national average price of a second hand home in Ireland. Values increased from €205,000 during the third quarter of last year to €215,000 in the same period of this year.

"The rise in property prices is the biggest change to the AA figures this year but the consumer did make some gains on energy and heating costs," said Director of Consumer Affairs Conor Faughnan. "Prices rose for items like home insurance, broadband and bin charges."

Maintenance and repair payouts are the second single most expensive bill for Irish householders - but this spending is down by a further 3% in 2016.

The AA estimates that the average homeowner is likely to spend or set aside €1,240.63 each year to keep up with wear and tear. This figure equates to almost 8% of the overall estimated cost of owning and running a home.

The insurance company carries out a detailed calculation each year which looks at the total cost of owning a house and subsequently running one in Ireland. Mortgage and property tax are calculated based on the current average property price. All other expenditure - from broadband to heating, to the cost of domestic appliances - is researched and calculated according to prices as of October 2016.