Overview
- MyHome.ie, in association with Bank of Ireland, reports 61,000 residential sales in 2024, implying the average home changes hands about once every 50 years.
- Mover activity is especially weak, with 9,000 mortgages drawn by movers in 2024 (0.4% of stock), less than half the UK rate of 0.9%.
- Asking prices often mislead buyers, with two in five sales closing at 10% or more above asking and one in seven at least 20% over.
- The report calls for wider adoption of transparent online bidding and for prospective buyers to see disclosed legitimate bids via technology platforms.
- Consumer trust is low, as a CCPC survey found only 16% of buyers view the market as transparent, and liquidity has lagged the UK every year since the financial crisis.