Estate Agents in Dublin have seen it all over the years.
So, here are some Dublin housing trends to look out for in 2021
Following on from the pandemic, housing prices in Ireland are expected to take aminor dip in 2021, before slowly returning to normal at the end of next year. One of the key factors behind this is the fact that during the pandemic, people were reluctant to sell houses here in Dublin, due to difficulties and restrictions related to house viewings in the capital. This drastically impacted upon the process for selling your house, making the process as a whole more complicated. Once these restrictions lift however, there should be a gradual increase in activity within the market.
Before the onset of Covid-19, it was expected that somewhere in the region of 25,000 new houses would be brought to the market across Ireland. However, due to the interruptions brought on by the pandemic, building work was halted in most cases. Lockdown itself has also had a varied impact on the financial situations of almost everyone in the country. For some, this has put them in a greatly improved financial situation, for others the opposite is the case.
Many people who intended to sell their homes in 2020 have put their plans on hold due to the general uncertainty within not only the housing market in Dublin, but the economy in general. The upside of this is that if you were considering selling in 2020, you have had the whole year to make improvements which may help you sell your home. What this means is that once the market settles down again, there will be an increased supply.
People Will Continue to move out of the city centre
Quieter suburban areas such as Castleknock and Glasnevin may see an increase in demand as potential buyers look to move out of the city centre due the increased trend of working from home. With less people having to commute to city centre offices, we predict that people will look to buy their new home or apartment in Dublin 15, Dublin 9 and other similar areas.
Property buyers will find, view and buy their homes online
As with most aspects of life during the pandemic, much of our lives have migrated online. The housing market is no different. Estate agents adapted quickly to this change, providing a wide array of services online. Soon, Google searches such as ‘value my house online’ became an easily accessible reality. According to the Irish Independent, on average, homes were taking less than 3 weeks to sell simply because buyers had everything they needed a matter of clicks away.
It seems there has never been a better time to sell your home!
If you have any more questions or would like to start the process for selling your house or apartment, do not hesitate to get in touch!