Second-Hand Home Listings Halve in Past Decade, MyHome.ie Reports
Dublin: The inventory of second-hand homes for sale in Ireland has halved over the past decade, according to MyHome.ie. Last month, 12,477 second-hand homes were listed, a 50% decrease from 24,750 in July 2014, when the market was recovering from the housing crash.
In Dublin, listings of previously occupied homes have dropped by 19% over the past decade, from 4,102 in July 2014 to 3,317 now. Leinster has seen a 36% reduction, with the number of listings falling from 10,572 in 2014 to 6,790. Munster and Connacht-Ulster have experienced even steeper declines, with listings down 61% and 59%, respectively.
Joanne Geary, managing director of MyHome.ie, noted that the decrease in second-hand properties underscores a significant supply-demand imbalance. The population has grown by an average of 65,000 annually since 2016, exacerbating the shortage.
Dublin accounted for 16% of the national stock in July 2014, rising to 26% last month. Of the 12,477 homes listed last month, 7,983 were priced at €450,000 or less, while 2,839 were listed between €450,000 and €800,000.
Geary highlighted that the current market dynamics, including strong economic conditions, full employment, increased high earners, and demand-driven government initiatives, are likely to sustain high demand and continued supply constraints.
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