Property consultants Savills Ireland today said that the last three months has seen growing evidence of buyers showing real interest in the property market, particularly in the greater Dublin area.
The property experts say since January they have seen a big increase in activity levels especially on Saturdays at open house viewings with overall viewing levels in Q1 2012 up by 400% on the same quarter last year.
According to Ronan O’Hara, Director of Savills, “Not only are our viewings up, we also have sale agreed approximately 60% more homes in the first quarter of 2012 compared to the first quarter last year. With very few new properties coming to the market, we are seeing a shortage of second hand homes in the greater Dublin area and an increased demand. You only have to go on line or look at the property supplements to see the lack of properties at this time.”
Savills Ireland reported that it’s not unusual for 30 parties or more to show up to a 30 minute open house view, which is unprecedented in recent times and reminiscent of a very different market.
Ronan went on to say, “Buyers who have been sitting it out for 2/3 years renting waiting for house prices to fall to affordable levels are now tired of doing so and want a place of their own. They now feel comfortable bidding because they feel there is now genuine value in the market place. In addition to this, vendors are now in the main being very realistic, so prices are fair and buyers are responding favourably. Also, rents have gone up recently in Dublin and in some cases people are reporting that it is as cheap to pay a mortgage as it is to rent. Access to credit also seems to have improved a little.”
MyHome.ie recently relaunched its Property On View guide, which shows all the property’s on view around the country each week. Since its relaunch visits to the page have gone up by 4000%