The cost of running your home has fallen by over €200, a study says

The cost of running a family home has fallen by €220 from last year, according to new figures.

AA Ireland claims that lower mortgage repayments means that keeping a roof over your head sets you back €16,200 a year.

It is the first time in years that the amount of money needed to own and maintain a home has fallen.

Director of the AA Conor Faughnan said the decrease in running costs was due to pressure put on banks to reduce variable and fixed rates for existing homeowners.

The AA calculations put the cost of heating a three- or four-bedroom home at close to €990 a year, with a further €1,117 being spent on electricity.

Unchanged from last year is the cost of a TV licence at €160. But household insurance will set an average family back €493, up €19 on the year.

Telephone and broadband bills are estimated at €454.

Household appliances cost a family €543 a year, and household cleaning products cost €320, with refuse collections coming to €293.

Water charges are a new addition to the suite of costs this year at an estimated fee of €260 for a multi-adult household.