With further restrictions easing and the country getting back to some level of normality, one of the most asked questions we receive on a daily basis is what is going to happen the local property market? RE/MAX Athlone try give some clarity to that question with an insight into their business over past few weeks.
Since lockdown we have been working from home. In that time we have sale agreed a number of properties (one of which by the use of our 3D Virtual Tour system ) and we also closed some sales. We adopted 3D tour on all properties before Christmas as we thought it was an essential service nowadays both for vendors and purchasers. It means anyone selling a home is not inundated with viewings from people who just want a good look around.
An increase on enquiry levels from buyers has been evident over the lockdown period also. Although there may be many factors behind a high enquiry level, the main one that I have noticed is a perception of opportunity for a discounted property, however the reality is different with local prices holding strong.
According to the latest Daft.ie Housing Market Report, sale prices rose by an average of 3.7 percent in May, having fallen by 5.5 percent in April. The new monthly report gives key figures on the health of both sale and rental markets, with figures showing a 0.6 percent rise in average rents in May, compared to April. The average monthly rent nationwide in May was €1,398, 0.7 percent higher than a year ago. Sale prices remain at or above last years prices and these asking prices are being achieved.
Right now the market seems to have picked up where it left off, with the housing shortage no closer to being addressed, a supply and demand issue that looks to be holding the market steady.
