This article is from page 53 of the 2008-03-18 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 53 JPG
“FOR first-time buyers, the property market has appeared more than a lit- tle overwhelming recently. However the misconception that the market has out-priced itself is now waning as a robust buyer’s market emerges,” said Liam Daly of Joseph Daly Prop- erty Partners.
He added, “The first-time buyer market has appeared to be particu- larly sensitive to changes in property prices, lending rates and the general feeling in the market.
‘However, with prices of some new and second-hand houses being cut by as much as 20 per cent and with rents in Ireland peaking at an all-time high in 2007, it makes sense for potential first-time buyers to now take that first step on the property ladder.”
He believes there has been “much scaremongering in the media of late which doesn’t actually translate when you look at the appropriate fig- ures. Cuts in interest rates and falling
house prices should be encouraging new buyers to feel optimistic again.
“Recent trends in the rental prop- erty market have seen more prop- erties become available yet rental property prices are not decreasing. Static house prices are delivering first-time buyers an opportunity to escape from the rent trap and get a firm foothold on the property lad- der,’ claimed Liam.
To assist first-time buyers in mak- ing the transition from tenant to homeowner, Property Partners has devised First Step, a guide aimed at buyers looking to purchase their first home.
The in-depth guide investigates such issues as house-hunting, or- ganising finance, mortgage options, expected costs, and includes a glos- sary of terms. Copies are available free by visiting the Property Partners Joseph Daly office or via the newly- launched Property Partners website at WwWww.propertypartners.ie or by phoning 065 6893257.