Saturday 3 December 2016

Rising prices and Central Bank rules forcing homebuyers to think long-term

Published 06/08/2016 | 02:30

'Although house prices continue to rise in most parts of the country, the days of buying a house or apartment only to sell it for a profit a few years later appear to be coming to an end.' Photo: Reuters
'Although house prices continue to rise in most parts of the country, the days of buying a house or apartment only to sell it for a profit a few years later appear to be coming to an end.' Photo: Reuters

Are we beginning to see the end of the property ladder? Although house prices continue to rise in most parts of the country, the days of buying a house or apartment only to sell it for a profit a few years later appear to be coming to an end.

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In the not-too-distant past, buyers would purchase a home close to where they worked and socialised, with a view to selling it on for a handsome profit and moving to a larger property when their circumstances changed.

But experts suggest that buyers are no longer looking for a short-term purchase, but are instead focusing on finding somewhere to live for a decade or more.

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