Housing demand may be ‘cooling’ despite 6% increase in asking prices - Daft

Yet the declines observed in the second half of 2022 may continue into 2023, he said, if demand for homes continues to falter amid rising interest rates.

“Interest rates have risen. One mortgage market provider started the year with fixed rates below 2 per cent but will enter the new year with rates for the same product of almost double that. This mathematically filters through to affordability and the maximum loan a provider will lend.” Overall, Mr Lyons said that demand had remained strong in 2022. Although the supply of homes had improved, the availability of new homes remained low at the start of last month.on Tuesday, which also showed a slowdown in asking prices in the final three months of the year, the second consecutive quarter of decline. MyHome is owned by the company that publishes The Irish Times.

Separately, the report indicates that the house asking price inflation gap between Dublin and the rest of the country was beginning to close.

Of course it’s cooling. Will take off again in about Sept 2023

Prices are beyond what market will bear..... except of course for State with bottomless purse engaged in market and keeping prices up. Not rocket science DarraghOBrienTD and IRLDeptFinance keep it going....can we see change in this de facto unspoken policy under mmcgrathtd 🤞

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