Demand Rates growing high House selling rate gaining high speed

The Real Estate Alliance (REA) said that the agents are experiencing a decrease in the duration in the length of time to sell the properties.

A spokesperson for REA said that the length of time it takes to sell properties has fallen from ten to seven weeks. Barry McDonald said this highlights the supply shortfall and high demand in the market.

Mr. McDonald believe that now a days the people are working from home and this certainly had an effect on the home selling industry.

The highest speed and property values ​​in the market are most evident in the outlying areas of Dublin as more people rediscover the city, is one of his findings.

He said people who can work from home are re-evaluating their situation and many want to move out of Dublin.

Mr. McDonald said that throughout the country the value has increased decently. The rise in demand and value are the result of eager buyers, who wishes to purchase a property as soon as possible.

Certain people had also received mortgage approvals before the covid lockdown and these people look forward to own a property before their expiry period.

He explained that houses that were expected to go on sale during March, April and May which is considered as the busiest time of the year, did not entered the market at that time.

Many traders backed themselves to see what happens. Mr. McDonald says that this has created a lack of supply in the market.  

Broadband speeds and the extra space available for their money have shifted some issues to a major concern for buyers – HOP (Home Office Possibility) is of great interest to buyers right now, he added.