Property market urged to be realistic about prices

3 D Personnel

Estate agent Lisney, in a recent report on the Irish property market, has urged people to be realistic in terms of prices.  Although prices held firm in 2020, despite the fears related to the coronavirus, market turnover was down from €6bn, a record high, to €3bn.  While the report expects prices to stay firm in 2021, it notes that the restrictions imposed by Covid-19 will continue to reduce the number of viewings.  It cautions sellers that this has made prospective buyers more sensitive, and inflated prices will effectively mean that buyers will lose interest, leaving properties on the market for longer.  Whereas, reasonable prices will probably lead to a quick sale.

It predicts that in the first six months of 2021, reduced supply will keep prices stable.  While during the second half of the year, as the vaccine begins to roll out and consumer confidence is restored, more and more home owners will put their properties on the market, which should result in a reasonably strong year.

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