Property prices have weathered the impact of the Covid-19 pandemic during the past three months.
owever the coronavirus appears to have sparked a big change in the type of properties that buyers are seeking.
Despite fears of a downturn during the Covid-19 crisis, the price of a three-bedroomed semi-detached house across the country fell by just a fraction of 1pc (-0.15pc).
The average price dropped to €234,667, which is equivalent to an annual decline of 0.5pc, according to the Irish Independent/Real Estate Alliance (REA) Average House Price Index.
This was despite predictions in some quarters that the market was in for a tumble thanks to the outbreak.
Gardens, potential home-office space and, most crucially of all, broadband reliability have become the main questions to estate agents.
REA spokesperson Barry McDonald said that while the current outlook is positive, and there appears to be significant pent-up demand, the coming months will reveal the full impact of the coronavirus pandemic on mortgage approvals.
The Irish Independent can reveal the state of play in the property market from data covering sales in the second quarter of this year.
It appears that during the months when the coronavirus crisis was at its height, vendors have simply sat tight and held to their prices.
Meanwhile new homes have been paused, causing a pinch in supply.
The quarterly index is produced using data based on actual sales achieved for Ireland’s most common house type, the three-bed semi detached.