While the economy has suffered enormously as a result of Covid-19, both property values and buyer sentiment appear, so far, to be largely unscathed by the crisis.
But while the market appears to have held up under the challenge, it’s important to acknowledge that such “steadiness” has been underscored by a reduction of properties coming for sale during lockdown, and a cessation of new home building.
During the traditionally busy months of April and May there was a reduction year-on-year of over 69% in the volume of second-hand properties brought to market.
And although a return to more normal levels of new listings was noted in June, volumes remained 19% down year-on-year.
But despite the uncertainty caused by Covid-19 for vendors, buyer sentiment remains strong with 82% of those who responded to an online survey saying they were “just as committed” or “more committed” to purchasing a property.
Read full article: IrishTimes.com