The current difficult economic conditions have made first time buyers nervous about getting into the property market. However with four rate reductions by the ECB since October 2008, coupled with increased value in the property market, first time buyers are being encouraged back into the marketplace.
The affordability for first time buyers in the housing market is to improve in the coming months. With house prices falling, affordability is improving, and this is good news for everyone.
In an important move to support first time buyers looking to get on the property ladder, Bank of Ireland has announced that it is enhancing its mortgage offerings with a fund of €1 billion for first time buyer mortgage customers, along with an attractive market leading one year fixed rate of 2.45 per cent (3.5 per cent APR ).
Rooney has reduced asking prices on the following properties:
No 88 Renville Village, Oranmore, two bed, 850sq ft townhouse, €249,000.
No 1 Fairgreen, Eyre Square, two bed top floor apartment, €330,000.
Killeenemore, Kilcolgan, four bed newly constructed detached dormer set on a 0.5 acre site, €325,000.
Tully, Ballygar, four bed detached two storey set on 0.5 acre, €195,000.
No 79 Cluain Riocaird, Headford Road, two bed first floor apartment, €240,000.
No 60 Ard Fraoigh, Clybaun Road, four bed semidetached house, €330,000.
No 2 Eyre Square Centre, three bed fully furnished townhouse, €300,000.
No 97 Sailin, Wellpark, superb three bedroom townhouse, €320,000.
No 82 Slí Gheal, Ballymoneen Road, luxurious four bedroom end of terrace home, €300,000.
Cappatagle, Loughrea, four bedroom two storey detached house, 1,850sq ft, €275,000.
No 51 Riverdale, Oranmore, four bed mid terrace three storey residence, €285,000.
Kilmore, Ballygar, three bed newly constructed detached family home set on 0.5 acre.
Half acre sites in Moyvenna, Oranmore, and Kilcolgan with full planning permission and no restrictions, €250,000.
The volume of properties on the market is offering the purchaser more choice, combined with the very good value that is now available to house buyers especially when we consider the cost of money. With interest rates so low rents are getting closer and closer to monthly repayment level.
Further details are available from Avril Smith, residential manager with Rooney auctioneers. Rooney auctioneers & chartered surveyors is situated in Victoria Place, Eyre Square, phone (091 ) 567391, e-mail [email protected]