Housing: Rising interest rates keep first-time buyers out of the market

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Brasil Últimas Notícias,Brasil Manchetes

As housing supplies worsen, first-time buyers are also grappling with rising interest rates – keeping them from entering the market.

found there were 12,200 houses available to buy nationwide, compared to 15,500 houses available on the same date last year and 24,200 available in 2019.In Dublin, there were 2,800 houses for sale in the third quarter, a 30% decrease from the same period last year., Trinity Professor Ronan Lyons said prices are increasing at a lower rate than last year.

"If you look at the number of homes available to buy at any particular point in time – during COVID, for obvious reasons, with everything locked down that fell dramatically from about 25,000 to about 10,00 or 11,000. "People who were on lower interest rates who might have moved if they'd stayed low, won't move now because by moving they would lock themselves into higher interest rates – so they'll stay put.Prof Lyons said new builds are"welcome" and should be increased, but this is not the sole solution.

 

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