House prices to continue rising despite economic slowdown, says leading estate agent
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Loading... - Ryan Griffin
- 09 Nov 2022
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House prices in the Republic will continue to grow despite the impact of rising costs and higher interest rates, estate agent Sherry FitzGerald has predicted.
Managing director Marian Finnegan said the Irish market was unlikely to experience a price correction as a result of the current slowdown because of the ongoing lack of supply.
Speaking as the company published its latest quarterly report, she noted there were just 15,300 second-hand properties for sale nationally in July, representing 0.8 per cent of the total housing stock. This was 34 per cent or 7,900 down on the number of properties being sold in July 2019, which represented a more normalised pre-Covid trading period.
While demand for homes would be squeezed by shrinking household budgets and higher interest rates, she said the chronically low levels of supply would keep a floor on prices. Read More...
