According to a new housing report published today
by the Society of Chartered Surveyors Ireland, cash purchases accounted for
about 35% of transactions in the second quarter of the year, from 50% in Q1.
which is based on a survey of property professionals across the country, the
pace of sales activity levels in the property market (sales enquiries, sales
agreed and sales completed) increased in the second quarter of the year.
Ninety per cent of respondents believe average
national house prices will be higher in 12 months time, one in three believing
they will rise by 5%. An even higher figure, 97% believe Dublin house prices
will rise over the same period, one in four saying they will be 10% higher.
First time buyers accounted for 44% of
transactions, while movers accounted for 29%. The reports suggests this moderate
improvement in housing mobility may be due to some properties lifting out of
negative equity and the availability of products which allow people to move and
retain their tracker mortgages. About 22% of units were purchased as Buy to Let
or investment properties.
Irish home mortgage loans issued in Q2 2014 at annual rate rose
to 1974 level