Number of property sales rises by over 4%

THE number of property sales across Cork increased by slightly more than four per cent over the first six-months of this year compared to the same period in 2016, according to a myhome. ie analysis of the property price register.

The analysis revealed that 2,532 transactions took place in Cork up to the end of June this year, compared to 2,432 for the first half of 2016. Unsurprisingly, given the size of County Cork, this was the second highest sales figure behind the capital, which recorded a sales figure of 7,455.

The analysis also found that the value of property transactions in Cork was up by 15.5%.

Nationally, the survey showed there were 23,148 sales over the first half of the year, with the total value of these transactions also increasing significantly, from €5.1 billion to €5.8 billion, an increase of 15%.

Angela Keegan said that overall sales across the country for the whole of 2016 topped the 48,000 mark.

“We think that if the current trends continue, we should comfortably exceed 50,000 sales this year,” said Ms Keegan.

Meanwhile, Ms Keegan said speculation surrounding the future of the ‘Help To Buy’ scheme had caused unnecessary uncertainty in the housing market.

“‘Help To Buy’ alone won’t help to solve the growing housing crisis, we need a co-ordinated package of measures for that, she said.

“But, abolishing it would be a retrograde step,” she added.