Residential sales increase by 14%

The volume of residential property sales jumped by 14%, on a year-on-year basis, during the first quarter of the year, according to a new study.

The latest Housing Market Monitor, from the Irish Banking Federation, has suggested signs of a slight recovery in the market; with “renewed buyer confidence” and a continued stabilisation in prices evident.

Despite the 14% increase in housing transactions — with 4,450 sales registered compared with 3,900 in the same period last year — the number of properties listed for sale actually fell by 15%, from 9,700 to 8,200 and the number of new houses built fell, again on an annualised basis, by 12% to 1,700.