First-time buyers are still dominating the new homes market

Today’s first-time buyer is very switched onto the schemes in place for their benefit, far more aware than their predecessors from 15 years ago

First-time new home buyers are searching for factors such as value for money, location near public transport links (in particular a train line) and the eligibility for grants.

“For us, the first-time buyer is still by far the dominant sector,” says Paul Hannon, Director of Sherry Fitzgerald New Homes. 

“They would represent over 70% of the market. However, it’s worth pointing out that, closer to the city itself, we’re seeing 3-bed semis priced closer to the €500,000 mark. That means a lot of the 4-bed semis are gone over the €500,000 level so they don’t qualify for the Government incentives.  With the First Time Buyers dominating the market to such an extent, the cut-off points for the Government incentives also play a big role in what is selling and what is not.