Positive buyer sentiment and stable prices in property despite COVID-19

Since the easing of lockdown restrictions and the reinstatement of physical viewings on June 8th, activity levels have been brisk and sentiment very positive among buyers.

A survey of over 10,000 potential purchasers revealed that the majority, over 60%, said that their sentiment was unaffected by Covid-19, but notably, 20% of respondents said they were now even more committed to buying.  

The respondents were young, 62% under 40 years of age with a high proportion of first-time buyers. 

Notably, 80% of respondents were seeking a house or apartment of less than €500,000 in value. 

Interestingly, 67% of respondents have been actively looking for a property for less than 6 months. 

It appears that despite the severity of this economic shock, the housing market has proved to be resilient both in terms of prices and buyer sentiment – a resilience that reflects the underlying strength of demand for housing and the shortage of available properties.  

Read full article: BusinessWorld.ie