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Lowest property sales recorded in the first quarter of 2020 since 2017

Lowest property sales have been recorded in the first quarter of 2020 since 2017, according to a new Myhome.ie study.

total of 11,161 properties were sold nationwide during January to April this year, a decrease of 4.6pc from 2019, where 11,702 were sold.

However, this is the lowest figure recorded in the January to April period since 2017, when 11,053 units were sold

Dublin has seen a fall in activity, with the number of sales in the capital decreasing by 7.2pc in comparison to last year.

However Limerick saw an increase in sales of 7.2pc, where 434 sales were recorded in the first quarter in 2020 compared to 405 sales in the same period in 2019.

Wexford saw the biggest decrease in sales, with 347 properties sold from January to April in 2020, a fall of 17.8pc from last year’s figure of 422.

Monaghan saw the biggest increase in property sales, with last year’s figure of 70 in quarter one jumping to 90 this year.

Managing Director of MyHome.ie Angela Keegan said that Brexit uncertainty had an impact on property sales last year and that this has been compounded by the pandemic this year,

“Brexit uncertainty had a significant effect on sales activity in late 2019, something which was apparent into the new year,” she said.

This was compounded by Covid-19 at the start of March, just when we thought we would see an increase in sales.”

She said that construction workers getting back to work is welcome news.

“The Government’s roadmap for the easing of Covid-19 restrictions states that construction workers can resume work from May 18th. This clarity is welcome as the longer we wait for construction to resume, the greater the fall-off in new homes will be which is something the market can ill-afford at present,” Ms Keegan added.

Online Editors

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