Covid-19 likely to have 'profound' impact on property market

The longer the virus persists, the greater the impact on housing demand will be, the ESRI said. Picture: PA

The property market may be radically altered by the Covid-19 pandemic, potentially amplifying issues of undersupply and prompting some to hold back from buying a house due to uncertainty over job prospects and income, according to a new report.

The report by the Economic and Social Research Institute (ESRI) also outlines how the phenomenon of working from home may require a rethink in how housing is provided as people may not want or require to live close to offices they no longer need to attend.