Prospective home-buyers are dodging doer-upper second-hand homes for ready-to-go properties due to the high renovation costs and lack of availability of tradespeople. Estate agents are flagging a slowdown in homes that need work as properties in good condition sell almost immediately. It comes as price inflation for an average Irish family home tumbled in the second quarter of the year, with the national average increase over three months now standing at 0.9pc. It means it has moved below 1pc for the first time in two years in a market that has long been experiencing hikes closer to three times that.
At the same time, participating agents in the Irish Independent/Real Estate Alliance (REA) Average House Price survey, published exclusively here today, have also highlighted an emerging two-tier second-hand property market developing between walk-in homes and those in need of work.
Despite inflation in the capital halving (from 1.6pc to 0.8pc) in three months, the smaller increase was still enough to propel the cost of an average semi-D in Dublin city through the €600,000 barrier for the first time.
Read the full details in Irish Indepenent
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