2013 Residential market report for Ireland: prudently emerging from the downturn

Can we say that Ireland is actually emerging from the downturn? In one sense, we can’t. In large parts of the country, rapidly falling prices, a large overhang of houses on the market and only a small proportion of properties selling in four months, a reasonable time in a healthy market, for any property to find a buyer. Nonetheless, in Dublin in particular, but also in its hinterland and in the other cities, there are a growing number of indications that the market in late 2012 is by far the closest to stable in a long time.

2012 remained challenging for the property market but, in a general sense, there now appears to be greater transactional activity, particularly over the past four months. 

Professionals have witnessed increases in both the volume and value of residential sales. They also returned to the auction market for non-distressed residential property, where their success rate was in excess of 90%. The commercial markets have improved too with the value of investment sales completed during 2012 up 200% on 2011 and an increased focus on Ireland from overseas investors. As they prepare for the next 12 months, they expect these positive trends to continue.

Read the and the Lisney reports