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Unrealistic price expectations among house sellers is the number one reason a sale falls through.<\/p>\nUnrealistic price expectations among house sellers is the number one reason a sale falls through.<\/p>\n
A new report by the Society of Chartered Surveyors Ireland (SCSI) shows that demands for higher prices rank ahead of mortgage issues and buyers finding another property.<\/p>\n
The report also found that nationally, house prices are expected to increase by 4% this year, while prices in the rental market are expected to rise by 5%.<\/p>\n
Aine Myler, SCSI Director General, says a consistent increase in house prices over the past number of years has created unrealistic expectations.<\/p>\n
“You can imagine that everybody has this anticipation that the following year their house is going to be worth more,” said Ms Myler.<\/p>\n
“But actually in a wider context we have had supplies start to come back into the market which provides more choice for buyers.<\/p>\n
“We’ve also had the Central Bank macro-prudential rules coming more to the fore, in the last year in particular, which limits the amount that someone can borrow and necessarily then what somebody can pay.”<\/p>\n
Meanwhile, campaign group Raise the Roof says introducing a legal right to housing would be a good first step in tackling the accommodation crisis.<\/p>\n
The alliance – which includes unions and charities – is also calling on the government to introduce a major social housing program.<\/p>\n
The campaign is holding a conference today in Dublin to discuss the issue.<\/p>\n
Campaign spokesperson Macdara Doyle from Congress says introducing a right to housing would represent important progress.<\/p>\n
“We are not saying that this is a silver bullet, that you can introduce this tomorrow and then homelessness ends and the housing shortages disappear magically,” said Mr Doyle.<\/p>\n
“That’s not going to happen. But it is an important first step.”<\/p>\n