At Real Estate Alliance our philosophy of professionalism and innovative marketing continues to set the standard in a highly competitive property industry. Importantly, all our members hold an IAVI or Society of Chartered Surveyors qualification. All estate agent offices are locally owned, guaranteeing you local expertise which you can trust nationally.
Monday, 23 March 2009
First Time Buyers are ready to buy
The majority of this group are between 25 and 30 years old. 48% are renting while 31% live with their parents. 66% of those renting are paying between €600 and €700 per month. A large majority (68%) of these potential buyers want to buy in the next year and most are motivated by “seeing the right house”. 54% are buying alone and 41% are buying with a spouse or partner. Interestingly, most of them have no preference between a newly built or a second hand house. The most popular budget is between €200,000 and €249,000. Most of these buyers (54%%) are holding off buying because they believe prices will fall in the months ahead and 22% are have problems obtaining finance. A considerable number of this group (59%) haven’t applied for a mortgage yet. Most First Time Buyers feel that the Home Choice loans will have little effect on the market. 79% of First Time Buyers think there is value in buying a house at the moment. 37% believe that property prices will bottom out by mid 2009. Most First Time Buyers (35%) believe that house prices will decrease by 5% in 2009. The majority of First Time Buyers believe that building energy ratings will have no effect on house prices and most don’t agree with carbon taxing homes.