RISINGAS THESUPPLY
in Wexford rose by 11.3 per cent from 681 to 758, while the number of sales in Wicklow rose 20.7 per cent from 608 to 734.
The only county in the South East to reflect a fall in sales was Waterford, where the numbers dropped by two per cent, from 620 to 607.
The study based on an analysis of the Property Price Register shows that the number of sales nationally has increased by 8.4 per cent in the first half of 2017, compared to the same period last year.
The study shows that there were 23,148 sales nationally in the first half of the year. The value of those transactions also increased significantly, rising from €5.1bn to €5.8bn, an increase of 15 per cent.
Unsurprisingly, it was Dublin that led the way in the first six months of the year with 7,455 sales – an increase of 11% on the 6,717 sales recorded for the same period last year. The amount of money spent in the capital also grew by 13.2 per cent, from €2.7bn to over €3bn.
Angela Keegan, Managing Director of MyHome.ie said the overall increase in sales in the first six months was a move in the right direction for the property market.
‘In 2016 there were over 48,000 house sales and we think that if current trends continue we should comfortably exceed 50,000 sales this year.
‘ The rise in sales and values in the commuter belt is the standout feature in these figures and indicates that the lack of supply of affordable houses is pushing buyers out of Dublin. We can see that the number of sales in Meath is up 43 per cenrt while the value of transactions is up 47 per cent. In Wicklow sales are up 21 per cent while values are up 25 per cent.’
‘ The downside of this trend and something which has been highlighted in recent reports is the increase in commuting times for people working in Dublin,’ she said.
Ms Keegan said speculation around the future of the Help to Buy scheme had caused unnecessary uncertainty in the property market.
‘ This initiative was introduced as a supply side initiative to encourage the construction of affordable homes. We are seeing a lot of new developments coming on stream now and that is something which really needs to continue if we are to get to grips with the current housing crisis.
‘Help to Buy on its own won’t solve the crisis – we need a coordinated package of measures for that – but abolishing it would be a retrograde step,’ she said.