Tuesday 5 May 2009

First Time Buyers on the move

House sales activity perked up slightly in April with first time buyers to the fore, according to latest statistics from Real Estate Alliance.
A total of 164 residential sales were agreed by Real Estate Alliance members during the month, an increase on the figure for March.

The REA April Property Barometer reveals that the sale price remained at around €180,000 on average, some 85pc of the asking price sought. The total number of enquiries recorded by REA estate agencies within the group was 4,200; 5% better than in March.

“All REA agents are reporting an uplift in first time buyer interest and sales”, CEO Eimer O’Keeffe comments. “Offers are coming in for second hand houses, but mostly at well below asking prices. Vendors are still holding on to unrealistic expectations. They won’t accept prices at market level. On average, we are seeing prices around the country at 40pc of the level prevailing at the height of the market. In certain areas, apartments are down by 50pc and second hand houses are down by 35pc”.