Property sales are running at 50pc ‘normal’ rate

Just 2pc of Ireland’s total housing stock of two million properties changed hands last year, but 4pc turnover is usual for a functioning market.

The data reflects the shortage of property to market in Ireland, and may also highlight relatively tight credit for home purchasing, as well as a lack of financial resources to acquire property.

This compares with 6pc turnover in the UK – where demand is high and prices have been increasing as quickly as Ireland’s.

Dublin experienced the greatest turnover in housing stock in 2014, with 13,588 transactions in the year (2.5pc). Monaghan (1.2pc), Donegal and Tipperary (both 1.3pc) had the lowest rates of housing turnover in the country for the period.

Read the full story in the Irish Independent.

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