The number of homes listed for sale has fallen dramatically in the wake of the covid-19 pandemic.
Only half the number of properties were available to buy during the last two weeks of March compared to the same time last year.
There were just under 1,300 properties posted for sale nationwide between March 15th and March 28th this year.
Property website Daft.ie has issued its latest report into house prices. It shows over the past 12 months, most regions have experienced a drop in asking prices, apart from Connacht and Ulster.
Dublin saw the largest fall of 2.6 per cent with the average home now costing over €372,000.
Commenting on the report, its author Ronan Lyons, economist at Trinity College Dublin, said;
Ultimately, the effect on the property market will depend on a number of factors, including the extent of disruption, the speed of recovery and the impact on numbers employed, average incomes and whether Ireland’s business model – acting as a base for North American firms to access the European market – is in any way affected in the long run.”
