Housing demand may be ‘cooling’ despite 6% increase in asking prices, report says

Ireland News News

Housing demand may be ‘cooling’ despite 6% increase in asking prices, report says
Ireland Latest News,Ireland Headlines
  • 📰 IrishTimesBiz
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 77%

Asking prices for homes increased by 6% nationally last year despite evidence of a slowdown in the second half of 2022 following 'an unprecedented couple of years' of high demand and low supply.

Yet the declines observed in the second half of 2022 may continue into 2023, he said, if demand for homes continues to falter amid rising interest rates.

“Interest rates have risen. One mortgage market provider started the year with fixed rates below 2 per cent but will enter the new year with rates for the same product of almost double that. This mathematically filters through to affordability and the maximum loan a provider will lend.” Overall, Mr Lyons said that demand had remained strong in 2022. Although the supply of homes had improved, the availability of new homes remained low at the start of last month.on Tuesday, which also showed a slowdown in asking prices in the final three months of the year, the second consecutive quarter of decline. MyHome is owned by the company that publishes The Irish Times.

Separately, the report indicates that the house asking price inflation gap between Dublin and the rest of the country was beginning to close.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

IrishTimesBiz /  🏆 6. in İE

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing demand may be ‘cooling’ despite 6% increase in asking prices - DaftHousing demand may be ‘cooling’ despite 6% increase in asking prices - DaftAsking prices for homes increased by 6 per cent nationally last year despite evidence of a slowdown in the second half of 2022
Read more »

Digicel wins damages, housing market cooling, NTMA weighs bond saleDigicel wins damages, housing market cooling, NTMA weighs bond saleStay up to date with all our business news: sign up to our Business Today daily email news digest.
Read more »

'Cool off' in housing demand predicted as prices fall in final quarter of 2022'Cool off' in housing demand predicted as prices fall in final quarter of 2022The average listed price nationwide in the final quarter stood at €309,941, which represents a 0.4% fall from the previous quarter.
Read more »

QUIZ: Time to test yourself on all that happened in 2022 | JOE.ieQUIZ: Time to test yourself on all that happened in 2022 | JOE.ieWhile you're already probably making new year's resolutions for the next 12 months, it's also time to reflect on the big events of 2022.
Read more »

Renters can now apply for up to €1,000 tax credit relief for 2022Renters can now apply for up to €1,000 tax credit relief for 2022The 2023 budget includes many responses to the cost of living crisis. If you are wondering if you are eligible to claim the rent tax credit announced as part of the 2023 budget, here is everything you need to know
Read more »



Render Time: 2025-03-16 14:35:30