Getting on property ladder will take buyers three years longer than planned, survey finds
One in ten home-buyers say it is going to take them three years longer than planned to get on the property ladder.
A new survey from KBC shows that while supply is at a record low, demand for houses is continuing to rise.
The survey reports figures in line with yesterday’s CSO data release which shows that there was a 13% increase in Irish house prices in the year to February.
The upturn in the economy has led to a ‘bulge’ of prospective home buyers, the survey finds.
Sentiment among home-buyers is that, due to an inadequate supply of housing, finding the right property means significant compromises have to be made about what, where and when to buy.
There are currently about 82,000 would-be buyers in a position to buy immediately, the survey says.
However, there was good news for some of those who queued outside the west Dublin Hansfield estate this morning, with lucky buyers securing up to 20 homes with a price tag of between 290,000 and almost 500,000.
– Digital Desk