Results of a survey carried out by MyHome.ie which focused on the buying intentions of First Time Buyers revealed today that the majority either have or are actively seeking mortgage approval, and over half intend buying within the next year.
The survey found 69% of respondents have the funds in place to pay a deposit, 51% … intend to buy in the next 12 months and surprisingly 22% are searching for a newly built property.
Like fashion, it seems that apartments are out and three bed semis are in. Angela Keegan, Managing Director of MyHome.ie said that “the survey revealed that a significant number of first timers are looking for 3 bed semi, probably because prices have fallen dramatically in the past three years, even in well established Dublin suburbs.”
Not surprising though was the percentage of first time buyers who are focusing their property search and purchase on the lower end of the market with 71% looking for homes in the €150,000 to €350,000 price bracket.