Difficult For First-Buyers With Mortgages To Compete In Property Market - IPAV

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The organisation says two out of five purchasers are buying a home without a mortgage.

Two out of five current house purchasers don't need a mortgage to buy a property.

That's according to the Institute of Professional Auctioneers and Valuers, which says one-off buyers who can pay more than the market value for a property are buying them without a mortgage.

The organisation says there is a lot of money in the economy to buy property at the moment.

Castlepollard's Pat Davitt, chief executive of IPAV, says it's very difficult for first-time buyers with mortgages to compete with the market:

 

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