From this month, Daft.ie has made some changes to their Daft Report. The report, which usually dominates the national news headlines and gets regular mentions in the Daíl, has moved from a quarterly to a monthly publication.
Daft.ie holds more historical information on the housing market over the last 20 years than almost any company or body in Ireland. So this change to more regular reports will give everyone a deeper insight into how the marking is moving.
The report showed an increase in average asking price nationally of 3.7% (€245k to €254k) but only partially offsets the largest one month drop on record of 5.5% between March and April.
Talking about the dip in April which was followed by an increase in May, economist Ronan Lyons, the author of the report, stated:
The rebound in May tells us a bit more about the fall in April. It is less about the market finding a new level – although of course that may still happen, depending on how Covid-19 affects the real economy. Rather, April’s sellers were – understandably – nervous and uncertain. That uncertainty had moderated slightly in May so sellers in that month were, on average, less nervous about what the future will bring. - Ronan Lyons, The Daft.ie Housing Market Report for May 2020
Something which is going to be interesting to see over the next few months is how the dip in listing price in April and a slight increase in May translates to sale price on the property price register.
The report also showed an increase in the national rent price of 0.6%, however, this also only partially offsets a drop of 2.1% in April. But we see a different picture in Dublin with a 1% drop in listing price and no change in rental prices.
The Report is available for anyone to view or download from this link: Daft Report May 2020.