Lack of supply continuing to squeeze the Tipperary housing market

Séamus Browne of REA Séamus Browne in Roscrea.

A lack of housing supply and the expiration of loan approvals is helping to drive ongoing high activity in the Tipperary housing market.

That’s according to Roscrea auctioneer Séamus Browne, also Chair of the Real Estate Alliance, who says that sale prices here remain around 25 percent below the cost of construction.

Despite the prevalence of online only viewings of properties, there are reports of ongoing price hikes on houses across the country.

Speaking on Tipp Today earlier, Séamus Browne said that housing supply remains very tight.

“There are two things – people with loan approvals and those approvals are starting to expire and there’s a little bit of panic buying starting to take place.

And the second thing is supply is low – and the reason the supply is low is because vendors feel the time is now right to put the house on the market. Most of our agents would see the number of houses that are available for sale is a lot lower than it would have been this time last year.”