Covid-19 has frozen the market.

But the majority of people in Ireland who are planning a move in the near future believe that 2021 will be a good time to buy property.

According to a survey of 1,981 people conducted by property website MyHome.ie, 68% of prospective buyers are still planning on buying a new property in the next year.

More than one-third of people (37%) said they believed house prices will fall by more than 10% in the coming 12 months.

“Even though Covid-19 has essentially frozen the market, this survey shows that prospective buyers are still confident about their ability to purchase in the coming year, possibly driven by an expectation of falling prices,” said Angela Keegan, managing director of MyHome.ie.

“For now, it is crucial that construction is allowed to continue without interruption, as it is clear that supply issues are still a significant concern for people.

Online viewings

According to a report from The Economic and Social Research Institute, Ireland’s property market is facing a gradual recovery during 2021 and 2022.

“One element of good news for the market is that most people are receptive towards online viewings as well as innovations such as real-time property viewing platform MyHome Live, which have quickly become of critical importance in the current environment,” added Ms Keegan.

According to the survey, around half (51%) of respondents agreed that online viewings and virtual tours are effective ways to view a property.