The latest Sherry Fitzgerald Residential Market Report for Spring 2006, published last week, contains the usual sunny appraisal of the future prospects of the housing market. However the report contains truly astonishing information on the composition of buyers of new homes. In the Spring of 2004 Sherry Fitzgerald reported that 57% of new homes were purchased by first time buyers, with investors buying 13%. The latest report has first time buyers buying 33% of new homes, while investors mop up 40% of new home output.
Given that rental growth is flat at best the growth in the investment market is hard to explain.
http://www.sherryfitz.ie/webdataex/articles/278.pdf
Given that rental growth is flat at best the growth in the investment market is hard to explain.
http://www.sherryfitz.ie/webdataex/articles/278.pdf
14 comments:
The property rates are low due to which investors are investing their money in property. The home buyers are also purchasing new homes.
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