ALMOST 1,400 homes were sold across Limerick during 2020, new figures have revealed.
According to the latest GeoView Residential Buildings Report there were 1,337 residential property transactions in the twelve months to the end of last November.
The majority of the transactions related to second-hand homes with 15.8% involving newly-built houses.
The figures are collated by GeoDirectory, which was jointly established by An Post and Ordnance Survey Ireland to create and manage Ireland’s only complete database of commercial and residential buildings.
According the latest report, there were 591 buildings under construction in Limerick in December 2020 while an additional 478 residential address points in Limerick were added to the GeoDirectory database last year.
Commenting on the latest GeoView Residential Buildings Report, Dara Keogh, Chief Executive of GeoDirectory said:
“This report shows the initial impact that Covid-19 has had on the residential property market. The data shows that prospective buyers and sellers have held off on activity in 2020, resulting in significantly fewer transactions. However, a certain level of demand has remained, which meant that house prices held firm across the country.”
Mr Keogh says there was a high level of residential buildings under construction in December despite the temporary restrictions on construction earlier in 2020.
“It remains to be seen what impact the current restrictions on construction activity will have on this pipeline of new builds in 2021,” he said.
Annette Hughes, Director at EY-DKM Economic Advisory commented : “The increase in the number of buildings under construction is very welcome in the current environment. The core challenge for the housing sector now is maintaining growth against the background of Covid-19.”
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