Goodbody BER Tracker shows Q1 growth

The 15% growth in housing output recorded over the last 12 months indicated by the Goodbody BER Tracker is extremely positive news for the market, and illustrates that the market had turned a corner in the delivery of much needed housing stock. Whilst it is too early in the curve to predict market impact from Covid-19, market sentiment and consumer confidence are showing some positive signs and an ongoing a desire to purchase.

Looking at March 2020 compared to the same month last year, Knight Frank New Homes saw a drop in new inquiries across Greater Dublin developments of 25%, with many buyers still keen to view show homes virtually and properties being reserved subject to physical viewing of a show home prior to contract exchange.

As we look forward to a gradual re-commencement of work on residential construction sites across the country, additional safety measures combined with supply chain delays will reduce the number of new homes constructed this year. If the volume of homes available reduces at a similar rate to the number of qualified buyers it could result in market values only seeing a minimal adjustment overall for the year in certain, high demand areas.

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