Housing crisis continues with fall in number of houses for sale

The housing market continues to face “a crisis of supply”, according to one of the country’s largest auctioneers, which says that the number of houses available for sale has fallen 14% in the last year.

Research by Sherry Fitzgerald found that approximately 27,800 residential units — 1.5% of the total private stock— were advertised for sale nationwide in July of this year, a reduction of 14% compared to the same month last year.

The drop in stock is worse in Dublin, where the number of units available for sale declined by 18% to 4,600 in the 12 months up to July 2016.