House hunters rush to buy homes ahead of interest rate cuts amid waning confidence in the market, report shows

Housing failures are set to be at the front of voters minds as a general election looms before the March 2025 deadline.

“Taoiseach Simon Harris has pledged to build 250,000 homes by 2030, but after a decade of insufficient construction activity, it is perhaps understandable that people are wary of the Government’s promise to deliver the amount of new homes we need to properly address our supply issues,” said Ms Geary.

Many house hunters are prepared to sign mortgage agreements before interest rate reductions are implemented as homebuyers are not confident that conditions in the residential property market will improve next year.

A consumer sentiment survey by property website MyHome.ie suggested some homebuyers may be rushing to secure agreements as demand continues to outpace chronically low housing supply.