Supply shortages see average house price up 7% over last 12 months

Persistent shortages has seen supply of second hand homes in seven countries fall by over 50%

Compared to July 2019, before the Covid-19 pandemic, when approximately 23,165 second-hand properties were advertised for sale, the number of second-hand homes advertised for sale this summer has declined by a significant 36.5%.

House prices across Ireland continue to rise significantly with property values increasing by 7.3% in the last 12 months, new data from Sherry Fitzgerald shows. 

In it's latest bi-annual analysis, the estate agent found the average value of second-hand homes rose by 1.8% in the three months between July and September, highlighting "continuing challenges" in the market.