Cash buyers snap up bargain properties in key spots nationwide

CASH buyers are snapping up bargain properties that would not have been affordable during the boom.

Both new and second-hand houses are selling without delay in locations with good access to transport and schools, according to the latest market analysis.

When it comes to second-hand houses, buyers are mainly interested in properties which are priced below €175,000.

The annual survey from the Society of Chartered Surveyors Ireland (SCSI) shows that prices in Dublin and Leinster plunged much faster than other parts of the country last year.

The SCSI said cash buyers and farmers were re-entering the market — but warned that until banks started lending again, “we will not see a recovery in activity levels in the property market”.