First-time buyers face growing affordability gap in Irish housing market, SCSI survey shows
A survey by the Society of Chartered Surveyors Ireland shows first-time buyers face a severe affordability gap in Dublin despite dual incomes and state support.
A midyear survey by the Society of Chartered Surveyors Ireland reveals growing affordability challenges in the Irish property sector. According to the report, even dual-income first-time buyers utilising the government's Help to Buy scheme encounter significant funding gaps when attempting to purchase homes in Dublin and neighbouring counties.
The survey of estate agents, auctioneers, and surveyors indicated that just 6 per cent of property professionals believe current housing prices reflect fair value. Consequently, prospective purchasers are increasingly extending their financial limits to secure homes that industry experts regard as overpriced. The findings highlight persistent structural pressures within Ireland's housing market despite existing state support initiatives aimed at assisting buyers.
Sources: The Irish Times.