RTE, March 8th 2010: First time buyers worried about job security
The EBS Building Society's research shows that 67% of potential first time buyers feel that now is a good time to buy a home. About three in ten are actively looking for their first home, while six in ten say that they will be actively looking to buy before the end of the year.I have already told a nephew and his girlfriend (he's self-employed and business is still good, she's a PS worker) to wait until 2011 at the earliest, as I believe that with such an overhang of empty properties that further price falls are inevitable. They want to buy in South Leinster where they're both currently working and living in nice rented accommodation.The research also shows that potential buyers are shopping around for their mortgage while the average amount that they expect to spend on their new home is €260,000.
The EBS also says that 53% of respondents said they were concerned about their own job security, while 22% said they were worried about their partner's job security.
Have I given them the right advice?