- 71% of potential patrons are planning on buying a property within the subsequent yr
- 40% count on property costs to fall by as much as 10% within the subsequent yr
- 76% consider the Authorities may do extra to assist the property sector
- 73% really feel secure viewing properties at current
Potential homebuyers are nonetheless assured about their skill to purchase regardless of resilient home costs and the continuing impact of Covid-19 to the financial system, based on a brand new survey from MyHome.ie.
The survey means that 71% of potential patrons are nonetheless planning on shopping for a brand new property within the subsequent yr. This compares with 68% of potential patrons who have been surveyed final Could.
Nonetheless, shopper opinion concerning home costs has modified because the summer time. Now, simply 13% of survey respondents consider property costs will fall by over 10% within the subsequent yr, whereas final Could 37% of shoppers predicted that consequence.
4 in ten shoppers now consider that costs will fall by as much as 10% within the subsequent yr, whereas half of all respondents consider subsequent yr will symbolize a superb time to purchase property.
The survey of two,716 individuals additionally discovered that three-quarters (76%) of respondents consider the Authorities may do extra to assist the property sector.
The virus is anticipated to have important long-term results, with 61% of respondents believing it should result in extra on-line processes normally to minimise pointless contact. In the meantime, 23% consider it should result in faster gross sales processes normally.
In a lift to the sector, 73% of respondents to the survey mentioned they felt secure viewing properties at current.
Angela Keegan, Managing Director of MyHome.ie, mentioned that the findings mirrored the continuing demand that was evident out there.
“Although shoppers haven’t seen the value drops that many predicted when Covid-19 emerged, demand has stayed sturdy all through Q2 and Q3. It seems that many potential patrons haven’t been hit by the financial fallout from Covid-19. MyHome.ie had its busiest ever month for web site site visitors final July, and that is mirrored in the truth that seven out of ten respondents are planning on buying a property within the subsequent yr.”
Nonetheless, Ms Keegan warned that it was essential that development exercise be allowed to proceed within the coming months.
“Our evaluation reveals that inventory ranges are down by 22% year-on-year, which is regarding. A wholesome, functioning property market wants a superb stability of provide and demand, and as such we have to see development proceed unimpeded over the winter if in any respect attainable.”