Property price pressures

January 30th, 2022 11:40 PM

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FIGURES released this week showed that property prices are still rising. The national average house price in 2021 was €321,596, up 9.4% on the year before.

Remote working has added to the demand for homes, combined with a severe shortage of properties and a lack of new-home builds. In West Cork it is estimated that prices rose by an average of 6%. This is good news only for those downsizing, moving abroad, or moving to a less attractive domestic location.

In general it means first-time buyers are under severe pressure and that is not good for the future of the region, as a whole.

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