Housing still defined by lack of supply

Looking across a broad range of metrics, including building activity, the mortgage market, and transaction levels, the housing sector is still some way from being described as a ‘normal’ functioning market.

Just over three years into the recovery in the Irish residential property market, after prices bottomed in March 2013, the sector continues to be defined by a supply shortfall.

This has resulted in sustained upward pressure on prices, which are now up around 35% from their low point. Rents are also rising rapidly.