First-time buyers prefer three-bedroom homes as market is still rising steadily

Glenveagh Properties have signalled “a very positive long-term demand outlook for the Irish residential housing market” 

Over 90% of buyers wanted three bedrooms or more, while just 5.35% wanted a two-bed.

Housing market activity in Cork has been rising steadily over the past three years, in both the new homes and existing homes sector, according to Central Statistic figures used in a recent presentation to the region’s builders at a Munster CIF summit, along with ‘insider’ market research on what buyers want.

Sales in Cork back in 2020 tipped just over 6,000 transactions, went over 7,000 in 2021, and were just shy of 8,000 by 2022, and by the end of the first half of 2023 were at the approximate half-way mark looking on track to at least meet the 2022 figure, while typically across those surveyed years new homes (vs resales) make up about 25% of sales.