Shortage in Supply Continues to Drive Price Growth in Housing Market

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 9 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 98%

Real Estate News

Housing Market,Supply Shortage,Price Growth

Despite falling interest rates, the primary challenge in the housing market remains the shortage of supply, which is driving price growth. Increased housing commencements offer hope for future market stability, but political decisions and economic factors continue to influence the market.

A shortage in supply remains the biggest challenge faced by the market, underpinning price growth despite falling interest rates. New housing commencements show promise, with more than 49,000 units starting construction this year compared to 23,923 in the same period last year. Political parties have released housing policies that could impact the market, and the forecast is for average price growth of approximately 5 per cent in 2025.

Areas outside cities experienced even higher growth rates, while some regions are below the cost of building due to private landlords selling rent-capped properties

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines