First-time buyer still out there

No queues over night for New Homes but steady sales through 2019 showed that the first time buyer is still out there and they want to buy.

Steering one’s way through the mortgage process is daunting enough but there are signs that supply has caught up and buyers now have to either buy from plans or wait a few months for a property to be ready will be repeated in 2020. In short if you see what you want “book it!” is the advice of Keith Duffy of DNG Duffy.

This year will see the launch of the Fairways Gardens development in Dundalk with buyers already seeking to secure pre-launch. Others such as Carlinn Hall, Mount Hamilton and Meade Bawn in Dundalk and Cnoc Na Mara in Blackrock are all on final phases meaning those who buy will be entering in to near finished developments.

Demand for second hand homes under €180,000 is strong with most properties selling in a few days rather than weeks if priced correctly. January 2020 has already hit double figures on sales in general with diaries filling fast as the weeks unfold.

Regarding rents and the idea of rents rising, we have seen rental values begin to stabilise with first time lets pitching higher values. The hand of the Rent Pressure Zone (RPZ) is now being felt by landlords whom are coming off the back of a long lease and feel that the RPZ 4 % is forcing them to decide to either continue renting or sell, and this seems to be fuelling the second hand market. An increase in supply of new buy to lets and student accommodation will lead to a welcome reduction in the high level of rent rises over the next few years.

The outlook is somewhat of the same for now with Brexit finally on path and national elections weeks away. The coming months are looking busy with the strong development in Dundalk with two new factories opening and with the expansion of

Irish Life.