Reports show recovery in residential property and investment markets

Recovery in both the residential property and investment markets is validated with two recent reports. The IPD/SCSI analysis shows Irish returns continuing to set international headlines, with investor activity moving to provincial Irish cities, with a strong rebound in Cork City’s retail performance in particular noted.

And, a separate Lisney Cork residential property index shows growth of 1.7% in the second quarter of this year over the first quarter, when 1,016 individual properties were transacted at median values of €176,000. That’s up a strong 23% on the figures from the same quarter in 2015.

According to agents Lisney’s analysis, the upward trend continued in the first half of this year. However, supply concerns continued as just 2,473 second-hand residential units were available for sale in Cork, and rents continue to rise, up 8.3% in the year to March (rents in Cork now stand at 11.8% below boom-time peak levels).