Imbalance between supply and demand in Longford property market

The next Leinster Property Auction public auction, featuring a selection of local properties, takes place on Thursday, March 2 in The Clarion Hotel, Liffey Valley, Dublin at 7pm. Registration starts at 6.30pm. 

One of the major challenges in 2016 was the housing supply shortage which looks to continue this year. 

This is the main driver of the continued rise of property prices and seems set to dominate the property headlines for the foreseeable future. 

Figures from MyHome.ie show that the number of properties listed for sale fell to just 20,875 in December 2016, down 7.7% from 12 months previous which sets another historic low in terms of supply. 

Patrick Folan from The Leinster Property Auction stated,  “While a small amount of new builds are coming on stream, there is still a clear imbalance between supply and demand in the market in general.  

“We are hopeful that government schemes such as the help to buy scheme will aid in pushing on new build homes to allow for supply to catch up with demand. We have huge demand for properties across the province and there is simply not enough good quality stock. 

“This is meaning multiple bidders on many of the properties where there can only be one eventual buyer.”

The Leinster Property Auction are now encouraging property owners considering selling their property in 2017 to contact them, given high demand levels it is proving an excellent time to sell. 

The company remain the only auction provider in Ireland who do not charge any upfront costs to entry their auctions. Furthermore, the auction team will initially agree a fair ‘Seller’s Reserve Price’ with each vendor which will set their minimum walk away figure from the outset. 

Contact The Leinster Property Auction on 01 687 5040 to arrange for a free property valuation or for more information visit www.leinsterpropertyauction.ie