House prices rose 1.9% in first three months of 2020, report finds

A property report carried out before the Covid-19 pandemic shows house prices in the first three months of the year rose by 1.9%.

The quarterly MyHome.ie/Davy study shows a three-bed home across the country now costs €273,000, while in Dublin it is at €380,000.

The number of sales in January rose by 6% compared with the same month last year.

Conall MacCoille, chief economist with Davy, says there have been some early trends after coronavirus reached Ireland.

“So for example they number of new listings, new homes for sale on MyHome, they were down 50%,” he said.

“The overall stock home is down 10% on the year.

“When we measured it in March you were already beginning to see people who would ordinarily have been thinking of selling their homes just saying they are going to wait.

“We know that estate agents and home builders are putting off open viewings.”

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