With the rising prices in the Ireland housing market continuing on their steep journey up, buyers in the market are slowly being priced out.
That is, they simply cannot afford to purchase homes anymore and are becoming less and less driven to continue their search.
With unrealistic prices seen all around the board and most steeply in the Dublin area, where housing demand is the highest, buyers are beginning to call off their hunt for homes.
What about the future?
How long will these buyers that choose to wait, be waiting, until they can comfortably afford their dream home?
With housing prices being upwards of 11.4 times more than the typical buyer’s disposable income in 2017, with an expected increase to be reported in 2018, it is likely it will be years before homebuyers are able to comfortably afford homes in the Dublin market.
It is likely that they will begin to look in the neighboring areas where prices are less competitive and there is less demand.
If, and when, housing price inflation regulates, it is possible there will be …