First-time buyers must resist the lure of risky loans despite the soaring prices
Published 25/07/2014 | 02:30
House prices are rising again. Residential Property Prices rose by 12.5pc in the year to June, while in Dublin houses rose 24.4pc. Should we all be delighted? It depends what side of the market you're on, and where you live.
Buyers, specifically first-time buyers, are getting shafted, as tighter credit conditions and 2005-level house prices push them out in favour of the cash buyer, the institutional investor, or the punter from the rest of the world looking for a decent rental yield in this low inflation, low interest rate, low yield world we now inhabit on this side of Europe.
Those on the sell side of the property market outside of Dublin also fare badly, as house price inflation is a mere 3.5pc there.