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News Detail | Michelle Burke

Property News

An honest synopsis of today's property market

Jun 24, 2016

There was an extremely interesting article by the property editor of the Irish Times, Madeline Lyons about the current state of the property market in Ireland - she stated that while it may seem the property market is picking up, which it has significantly since 2012, actual house sales are down and supply of property both new and secondhand is low. According to Madeline this is attributed to eight facts as follows:

  1. House sales are down

  2. Supply is critically low

  3. Price growth is slow

  4. Bullish asking prices

  5. High mortgage rates

  6. Renting back to peak levels

  7. Not enough new homes

  8. Investors are exiting the market.

This is a true and honest article which might lead to me shooting myself in the foot but I am known for my honesty and I will always call a spade a spade.  Call me on 087 2500 716 with any of your property queries - we are very active in both the rental and sales market in Galway city & county.

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Michelle Burke MIPAV MCEI Auctioneer & Letting Agent