House Prices Rebound After Apr...

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House Prices Rebound After April 'Wobble'

Jack Quann
Jack Quann

9:14 AM - 8 Jul 2020



House prices are already rebounding after a COVID-19 'wobble' in April.

That's according to Ronan Lyons, author of a new Daft.ie housing market report.

He said: "It's hard to say that we're out the other side yet, but as we can see things now - as of the start of July - it certainly had an impact, a wobble, in April.

"The overall trends for house prices has been moving from inflation of say 5% or 6% a couple of years ago, more or less stable this time last year and then slightly falling as we entered the year.

"Then there was a big wobble in April when the market didn't know what to do.

"But... the number of homes put up on the market in June is almost back to normal levels - so the sales market has recovered quite a bit.

"With that, we're seeing a return to - in terms of process - a return to that gently falling year-on-year trend in prices, so just over 3% down year-on-year".

Source: Daft.ie

"It looks like the trend that was there has returned, of course that's not to say that things won't be different if there's a second or third wave.

"It is definitely a confidence issue."

The report shows sale prices fell by an average of 3.3% in the year to June.

It also shows a 0.2% rise in rents nationwide in the year to June.

The average listed sale price nationwide in June was €253,868, while the average monthly listed rent was €1,402.

Most parts of the country show similar trends, with a modest annual fall in sale prices - ranging from 2.9% in Leinster to 4.9% in Munster - and largely stable rents.

In Dublin, rents rose by 0.5% year-on-year, while in Leinster outside Dublin they rose by 1.2%.

In Connacht and Ulster, however, rents are down 2% year-on-year - while sale prices are up modestly on average by 0.7%.

 



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Daft House Prices Rents Ronan Lyons Sale Prices

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