GOOD NEWS is a scarce commodity in the property industry just now, but a new survey out today from myhome.ie shows that quite a few would-be buyers are waiting in the wings for the market to bottom out.
The website asked 2,200 users about their intentions. A surprisingly high 38 per cent said they planned to buy a property in the next 12 months.
This seems to fall in line with the view of many new homes agents who believe that the buyers are out there, but that they are reluctant to move until they feel that prices have bottomed out. The survey found that potential buyers were also concerned about the overall state of the economy and because of this the same number of respondents – 38 per cent – said they would consider renting rather than buying.
However, if they ever want to buy, they’ll have to start saving. A startling 21 per cent said they do not have the funds to pay a deposit. Clearly they haven’t been in touch with their bankers who will tell them that 100 per cent mortages are history, and that 80 per cent is more like it. Time to open that post office account.
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