Myhome.ie latest quarterly report shows a 5% jump in asking prices nationally q-on-q. Wouldn’t attach much weight to that because the market is fragile but it shows that sellers are not panicking.
Supply is picking up but remains at much lower levels than before the pandemic
New listings for sale on MyHome have returned close to 2019 levels through July to September,
The stock of residential properties listed for sale on the MyHome website in September was 17,800 - still down 25% on 2019 levels.
On the other hand, demand seems to be strong and may be driven by a perception that there are bargains to be had.
In our recent sentiment survey, 53% of prospective homebuyers expected prices to fall over the next 12 months and 50% felt that now was a good time to buy property.
A home office is now a “must have” for many prospective buyers:
73% of homebuyers said that COVID-19 had changed their outlook on buying property, with significant numbers saying that they would look to secure a home office (43%), garden/playroom (40%) and look further afield (23%).