Survey: Number of 'ready and willing' home-buyers is twice number of houses sold in past year

Survey: Number of 'ready and willing' home-buyers is twice number of houses sold in past year

Demand from home-buyers in Ireland is growing, and could outstrip the expected rise in the building of homes, according to a new survey by KBC Bank Ireland.

The survey has found there are around 110,000 "ready and willing" home-buyers.

KBC Bank Ireland said it is expected that any rise in the supply of property will not meet the surge in demand.

They said: "There are currently 110,000 'ready and willing' home-buyers in the market which is twice the number of property sales in the past twelve months."

Austin Hughes, Chief Economist at KBC, says the upturn in the economy has led to a rise in demand for housing.

He said: "Demand is picking up for home purhcase at the moment - confidence in the economy and the sense that people's prospects in terms of incomes and employment are improving - has seen more people consider home-buying.

"Of course there's the fact that a lot of people are simply in the wrong place now in terms of their housing."

He said: "For every property that changed hands in the past 12 months there are now two ready and willing buyers.

"It also shows that the current 'swell' we are seeing in housing demand is also boosting property inflation even though new housing supply is increasing."

More in this Section

'Be vigilant': HSE issues warning over contact tracing text scam'Be vigilant': HSE issues warning over contact tracing text scam

Reimagined Galway 2020 programme will be largely onlineReimagined Galway 2020 programme will be largely online

Taoiseach: Phase four re-opening may be delayed over fears around gatherings and house partiesTaoiseach: Phase four re-opening may be delayed over fears around gatherings and house parties

'Continue to protect each other': Health officials urge those socialising this weekend to be 'responsible''Continue to protect each other': Health officials urge those socialising this weekend to be 'responsible'


Lifestyle

Eve Kelliher explores temples of Zoom to get verdict on relocation from boardroom to spare roomWhat we've learned from world's biggest remote working experiment

As those of us who love to have friends round are tentatively sending out invitations, we’re also trying to find a workable balance with necessary social distancing rules, writes Carol O’CallaghanTable manners: How to entertain at home post-lockdown

Helen O’Callaghan says asthma sufferers need to watch pollen levelsBreathe easy: Pollen tracker protects asthma sufferers

Testosterone levels drop by 1% a year after the age of 30, so should all middle-aged men be considering hormone replacement therapy to boost their mood and libido? asks Marjorie BrennanHow male hormone deficiency can impact both mood and libido

More From The Irish Examiner