- MyHome.ie figures show there were just 12,477 second-hand properties listed for sale in July 2024, compared with 24,750 in July 2014
- ‘These figures are particularly concerning when one considers that the population of the country has grown by an average of 65,000 every year since 2016’
The amount of national second-hand stock has declined by 50% in ten years, according to new research by property portal MyHome.ie.
According to the website, there were 24,750 second-hand homes listed for sale in Ireland in July 2014. This compares with 12,477 properties last month – a decline of 50%.
This downward trend is in evidence across the provinces over the last decade, with a 61% decline in Munster, a 59% drop in Connacht plus the three border counties, and a 36% decline in Leinster. Dublin has experienced a 19% drop in second-hand properties for sale since 2014.
The chronic shortage in supply is becoming more acute outside the capital city; in 2014, second-hand properties in Dublin represented 16% of all national stock on MyHome.ie. Last month, that figure had risen to 26%.
Of the second-hand properties listed on MyHome.ie last month, 7,983 had an asking price of €450,000 or below, with 2,893 listed for between €450,000 and €800,000.
Second-hand stock: key statistics
| Province | July 2014 | July 2019 | July 2023 | July 2024 | % difference: July 2014 -> July 2024 |
| National | 24,750 | 22,710 | 13,145 | 12,477 | -50% |
| Dublin | 4,102 | 5,252 | 3,353 | 3,317 | -19% |
| Leinster | 10,572 | 12,189 | 7,175 | 6,790 | -36% |
| Munster | 8,492 | 5,933 | 3,503 | 3,329 | -61% |
| Connacht (plus Cavan, Donegal, Monaghan) | 5,686 | 4,588 | 2,467 | 2,358 | -59% |
Speaking today, Joanne Geary, Managing Director of MyHome.ie, said: “This analysis highlights the scale of the shortfall in second-hand properties in the last decade and emphasises the work that needs to be done to address the imbalance between supply and demand in the market. This trend is particularly concerning when one considers that, according to the CSO, the population of the country has grown by an average of 65,000 every year since 2016.”
She said it was unlikely that the fierce demand in the market would ease in the near term. “Ireland is experiencing strong economic tailwinds and full employment at present, with a significant increase in high earners recorded recently. Added to that, looser lending rules and demand-led Government initiatives such as the First Home Scheme and Help-to-Buy Scheme have also strengthened demand.
“There is a vicious circle in the market at present, whereby those looking to trade up or down appear to have been spooked by the lack of stock available and are delaying a sale as a result, leading to an overall and consistent reduction in supply.”
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