Available properties down 9% on last year

The stock of properties available for sale has fallen significantly since last year, according to estate agents Sherry FitzGerald.

In figures released today, SherryFitzGerald revealed the current available stock represents just 1.3% of the total private housing stock in Ireland and is down 53% since 2010.

The analysis of second-hand properties on the market reveals that there were 25,100 units advertised this July, down from 27,600 in the same period last year.

There were only 3,900 units advertised in Dublin where all four local authorities saw supply levels decrease, including a 19% annual fall in supply in Dublin city.

A Chief Economist for Sherry FitzGerald said the "critically low" urban stock will lead to increased prices.

“The stock of properties available for sale is now critically low in all urban areas. Such low stock will inevitably put increased upward pressure on prices," Marian Finnegan said.

Stock in commuter counties around Dublin also fell over the last year.

"It is essential that every effort is made to support the development of new housing stock, particularly in the large urban areas, where the crisis is most pronounced,” she added.

The regional centres of Galway, Cork and Limerick also saw reductions in supply with only 271 units in Galway city, 451 in Cork city and 220 units in Limerick city being advertised in July.


Related Articles

Disused Kerry hospitals will not be redeveloped for housing

Housing policy warning over future of towns in Cork

Criteria for affordable housing being finalised

Funding cuts for inspections on rented accommodation 'a serious health and safety issue'

More in this Section

British Gas owner Centrica to scrap standard variable tarrifs for new customers

Coppers nightclub see their profits soar

Index shows slower growth for Irish businesses

Aerospace giants demand Theresa May and EU agree urgent Brexit deal


Today's Stories

Ireland must forge even closer links with eurozone

Is this the end for zero-hour contracts?

The European Union seeks tax rule action

Despite the ticking clock, some optimism over sterling

Lifestyle

Our divergent relationship with animals

Cork photographer in the frame for top prize

Battle of the bog: Those who fought for access to the bathroom

A towering achievement: Exploring Irish castles and beautiful buildings

More From The Irish Examiner