Return of the home movers shakes up house market
HOME movers are re-entering the property market in large numbers and are set to deliver a massive boost to house prices, according to experts.
Thousands of purchasers have held off on moving due to negative equity and the fear of losing valuable tracker mortgages.
And up to now, families who wanted to trade up were out-bid by first-time buyers whose tax relief gave them extra buying power. But now experts say mover-purchasers are set to be a major force again in the market.
Property expert Carol Tallon said movers were expected to overtake first-time buyers as the most active in the market. And she predicted that thousands would be sold off by landlords with buy-to-let mortgages after the Department of Social Protection cut the weekly rent supplement.