Economic imperative being felt

For those from the home market who are getting financing, Daly sees that more and more of them are being driven towards purchasing by the developing economic imperative to do so that is starting to overcome the trepidation of many to enter a property market that seems so uncertain.

Simply put, it’s getting to the stage where it makes financial sense to buy regardless to what way prices go in the future.

“We also have quite a few first-time buyers coming into the market who wouldn’t have been there before. Many have been renting for a while and it’s come to the stage now where the price of a monthly mortgage repayment is nearly the same as a monthly rental, so we’re seeing a lot more activity from the first-time buyer market as a result – deciding that they might as well buy rather than rent.”