Property roller-coaster not for the faint-hearted, but lenders need to hop aboard
With CSO figures showing house prices rising fastest since 2007, a home mortgage study expects demand to increase.
Core Media's Ignite Research says buying a property is an emotional roller-coaster, with highs and lows on the ride.
Mortgage lenders must show a deep understanding of consumer needs and may need to "relocate" their marketing messages.
Most people expect property prices and rents to rise by about 12pc in the next year. Not surprisingly, expectations for Dublin are higher than the rest of the country.
Among those in negative equity, 78pc plan to stay put and see what happens in the market. The report says 13pc of those in negative equity would sell up and buy, while just 9pc would sell and rent.
Of those in positive equity, 31pc would sell and buy a new property, and 7pc would sell and rent. Among first time buyers, 44pc will buy in the next year.
The interviews were conducted in May and July this year. In May, 65pc of first time buyers said they would wait and see what happens in the market before making a move, up from 56pc in May.
As many as 350,000 consumers - or 11pc of Irish adults - wanted to buy houses for the first time last year and 14pc of these still live with their parents.
Committed house hunters were up by 54pc, with 59pc first time buyers.
Ignite's Mark Nolan (pictured above) says that while almost 1 million consumers think it's may be worth looking at properties, it's a consumer demand which can't be met, resulting in frustration and annoyance among first time buyers.