MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Sustainability
  • Rise in cost of living having significant effect on homebuyer sentiment
Sustainability
Apr 11, 2022 - 09:57

Rise in cost of living having significant effect on homebuyer sentiment

MyHome.ie
By MyHome.ie
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Rise in cost of living having significant effect on homebuyer sentiment

Main findings:

• 52% say rise in cost of living has affected their ability to purchase

• 70% have had to look beyond their top location choice because of price concerns

• Just 12% agree that next year will represent a good time to buy property

• 59% believe prices will increase in the next year

Advertisement

 

A new survey has suggested that the rise in the cost of living is having a significant effect on prospective homebuyers’ ability to buy.

According to the survey of 2,020 people, from leading property website MyHome.ie, 52% of prospective homebuyers say the current rise in the cost of living has affected their ability to purchase a property.

Surging demand is also a critical factor with regard to sentiment around the property market at present. Just over half (56%) of respondents have finances in place to buy a property in the next year, yet 42% say they are not confident about their ability to buy in that timeframe.

House prices are a major issue, with 70% of respondents saying they have had to look beyond their top location choice because of price concerns.

Advertisement

Respondents do not see a light at the end of the tunnel when it comes to prices, with six in ten (59%) people believing prices will rise in the next year. This mirrors the trend seen by MyHome.ie in its recent quarterly property price reports.

Just over one in ten people surveyed thinks that the next 12 months will represent a good time to buy property, while 74% are worried about the state of the property market in general.

Joanne Geary, Managing Director of MyHome.ie, said that the findings were not surprising given the current economic climate. “The rise in the cost of living has been significant and is a source of worry for all people, so it is not surprising to see homebuyer sentiment negatively affected in this survey.

“Our recent Property Price Report for Q1 2022 predicted buildings material inflation of 18% next year, which would most likely serve to put a brake on soaring market demand.”

She added: “This could be viewed as a positive result for the market, as we need to see demand easing in order to redress the imbalance between that demand and our chronic lack of supply.”

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • advice
MyHome.ie
By MyHome.ie
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

Welcome to MyHome ecoRating
Sustainability

Welcome to MyHome ecoRating

Aug 02, 2024
Bin the boiler, reduce energy, save money
MyHome Living

Bin the boiler, reduce energy, save money

Jul 12, 2024
Construction sector activity rises again in April
MyHome Living

Construction sector activity rises again in April

May 13, 2024
New low-cost loan scheme for home energy upgrades announced
MyHome Living

New low-cost loan scheme for home energy upgrades announced

Apr 25, 2024
Target of 250,000 homes by 2030 will be in revised Government targets
Sustainability

Target of 250,000 homes by 2030 will be in revised Government targets

Apr 24, 2024
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement