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Summary of IPAV Residential Property Price Barometer July -December 2023

Factors Influencing the Market:

The population, now at 5.2 million, grew by 100,000 in the last year alone, creating a housing demand that outpaces supply. Prices, despite attempts to correct, remain resilient and could potentially rise by 5% in 2024. Auctioneers report a scarcity of supply, with strong demand from non-Irish nationals and returning emigrants.

Policy Considerations:

The report calls for specialized housing policy interventions, highlighting the need for a combination of coordinated measures. These include revisiting Rent Pressure Zone rules, supporting SME builders with low-cost finance, providing incentives to landlords, bringing vacant properties back into use, offering longer-term mortgages, and improving mortgage lending limits.

Ireland faces complex challenges in its housing market, requiring a nuanced and comprehensive approach. As the nation grapples with supply and demand imbalances, policymakers must consider specialized interventions to ensure the market meets the needs of its citizens. The report serves as a wake-up call, urging a reevaluation of existing policies and the introduction of targeted measures to navigate the intricate landscape of Ireland’s housing market.

If you would like some more advice on how best to navigate this tricky Property Market, Contact us today and check out What’s available.

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