Ireland as a whole is eagerly waiting for each month to come, and new statistics to be published. Statistics in regards to the housing market and what can be expected by the next months’ forecasts.
It is with eager thoughts that positive reports mean future gains and future gains mean economic development and of course, citizens of Ireland to get into their homes.
A country with many living in a distressed state as they give up their dreams of home ownership or settle for someplace they simply don’t want, these reports sit a little heavy.
With every new reported couple/persons in the home buyer cluster there comes a story as to why they aren’t following their initial plans.
Maybe they can’t afford their dream home, the supply of homes isn’t available in their price range, or they gave up after years of looking to move into a one bedroom apartment, costing the same amount as a small home. The overlapping theme, unfulfilled.
Most individuals are hoping for the stats to tell them that the country is coming out of its housing crisis and they, and the many around them, will be positively affected by an upward shift.
With the most recent report, we saw a few things.
A quick look at the Draft.ie report would have consumers disappointed. Yet again, there was a rise in the average home prices.
Conducting a deeper analysis suggests that maybe it’s not so bad. Maybe consumers can still find an area to hang their hope on.
Yes, prices rose. But marginally so. If this the beginning of a trend then home prices are slowing on their upward heist and maybe preparing to level out someplace along the way.
Compared to a year ago, home prices are just 5.6% higher. Not a bad increase at all, in fact, it also signals the lowest level of inflation seen on a national scale in over four years.
The factors to be contributing to the levels of inflation is solely due to the shifts taking place in supply and demand throughout the market, throughout the nation.
With the continuation of new homes being built by many housing schemes and supply on a continuing upward movement, it is hopeful that the most recent draft.ie’s report signals the beginning to the turn around of the market.
In such a case in which the market begins an upward shift, Ireland, and Dublin, especially can expect to feel the effects first.
With many individuals fighting for a spot to make Dublin their home, competition is steep and without more housing supply the demand is only going to continue to go up.
It is a positive economic development for the nation and with the news, it is a promising bet that the community will continue to eagerly await each month on the new stats, hoping for further improvement.
With the recently released report, it is hopeful Ireland is getting on the right track however without further development, it will not matter.
As a nation, it is of community concern that the housing market returns to normal, healthy, levels in hopes that there will be some seen effects in many areas of economic growth.