It’s official, the majority of people in a position to do so, are considering purchasing a new house over the next two years. This is obviously good news, for not only the construction industry, but also the government, and professions such as architecture and law. It would seem to be the case that potential purchasers feel that the housing market has not yet hit the floor, if it hasn’t, I believe it’s fairly close to it.
Newspaper reports suggest that the purchasers will return to the market once they perceive value in same. However, all this optimism will come to naught unless the banks in Ireland, start doing their job and start lending to people on reasonable terms. It seems a shame to me that many first-time buyers with solid employment are encountering difficulties in obtaining loan approvals to purchase modestly priced property, hopefully this will change.
For our part in this office, we are doing our bit in providing a first-time buyer service at reduced cost to assist those who are trying to purchase their first property.
Hopefully we will soon see a recovery in the housing market, it can’t come too soon.