Potential homebuyers nonetheless assured about shopping for regardless of Covid-19 affect

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  • 71% of potential patrons are planning on buying a property within the subsequent yr
  • 40% anticipate property costs to fall by as much as 10% within the subsequent yr
  • 76% imagine the Authorities might do extra to assist the property sector
  • 73% really feel secure viewing properties at current

Potential homebuyers are nonetheless assured about their capacity to purchase regardless of resilient home costs and the continued impact of Covid-19 to the economic 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 season. Now, simply 13% of survey respondents imagine property costs will fall by over 10% within the subsequent yr, whereas final Could 37% of customers predicted that final result.

4 in ten customers now imagine that costs will fall by as much as 10% within the subsequent yr, whereas half of all respondents imagine subsequent yr will signify a great time to purchase property.

The survey of two,716 individuals additionally discovered that three-quarters (76%) of respondents imagine the Authorities might do extra to assist the property sector.

The virus is anticipated to have vital long-term results, with 61% of respondents believing it’ll result in extra on-line processes on the whole to minimise pointless contact. In the meantime, 23% imagine it’ll result in faster gross sales processes on the whole.

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 continued demand that was evident available in the market.

“Though customers haven’t seen the worth drops that many predicted when Covid-19 emerged, demand has stayed robust 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 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 great stability of provide and demand, and as such we have to see development proceed unimpeded over the winter if in any respect attainable.”

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