October 25, 2020
Business News Property

Pandemic fails to dent value of homes across Waterford: survey

Despite the Covid-19 lockdown, the housing market has remained remarkably buoyant in Waterford with the average prices of homes remaining the same as before the pandemic hit.

Figures published by the Real Estate Alliance in its latest national survey show the price of the average three-bed semi in county Waterford remained unchanged over the past year.

Despite fears of a downturn in the market during the Covid-19 crisis, the price of a three-bedroomed semi-detached house across the county remained unchanged at €215,000 in Waterford city and €178,000 in Waterford county over the past three months.

And even with restrictions in place, the average time to sell rose by just one week in the city this quarter, taking 13 weeks to sell a house. In the county, it was unchanged at 12 weeks.

Speaking about the figures, Des O’Shea of REA O’Shea O’Toole, Waterford said: “There is no evidence of a reduction in prices here and the market has been active since we came back two weeks ago.

“Time will tell if this is pent up demand. Vendors are bringing houses to the market at the moment in the hope that they can get a good price for their properties.

“We are advising vendors to expect a delayed selling period because of the uncertainty in the market,” Mr O’Shea added.

The REA Average House Price Survey concentrates on the actual sale price of Ireland’s typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

Across the country, despite fears of a downturn in the market due to lockdown, the price of a three-bedroomed semi-detached house fell by just -0.15% over the past three months to €234,667, an annual decline of -0.56%.

 

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