Friday, September 04, 2020

Houses prices in Carlow have remained remarkably unchanged in the first six months of 2020.

There has been no change for 3-bedroom semi-detached homes in the county while a slight drop of 0.93pc has been recorded for 4-bedroom semi-detached homes and a drop of 1.23pc for 2-bedroom apartments.

This is according to the latest Residential Property Price Barometer from IPAV, the Institute of Professional Auctioneers & Valuers.

The survey charts average prices actually achieved by auctioneers in the first six months of 2020 compared with the last six months of 2019 for these three best-selling property types.

Pat Davitt, chief executive of IPAV, said this was a time defined by the Covid-19 pandemic with the shutdown of the economy taking place midway through the period and Auctioneers in lockdown for 13 weeks.

“Despite early predictions by some economists and lenders of a slump in prices arising from the fallout from the virus this has not happened,” he said.

IPAV maintained from the start of the pandemic that property prices would remain firm and pent-up demand would keep prices largely stable.

“This study has underpinned that view of the market. There has already been a correction in the Dublin market by about 20pc and there are approximately 300,000 too few properties, so it would appear at this juncture there is only one way for prices to go,” he said.

He added in rural Ireland there are properties still selling for less than the price of construction.

 

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