Property
Irish House Property: Cash purchases accounted for 35% of transactions in Q2 2014
By Finfacts Team
Aug 26, 2014 - 9:07 AM

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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.

According to the report, 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.

Finfacts: Irish home mortgage loans issued in Q2 2014 at annual rate rose to 1974 level


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