Housing stock levels have fallen to a record low, new data from estate agent Sherry Fitzgerald reveals.
The figures show that just 11,050 second-hand properties were listed for sale across the country this January. That is 0.6% of the entire private housing stock in Ireland.
The latest analysis reveals a 27% drop in available properties for sale since the same time last year, and a 46% fall when compared to January 2020.
According to today's report, rural areas, especially counties such as Sligo, Roscommon, Mayo, Kerry and Westmeath are disproportionately affected by supply shortages.
The counties have experienced decreases over 55% over the last four years, with less than 650 new dwelling completions last year.
While there were approximately 32,700 new dwelling completions in Ireland in 2023, they were concentrated primarily in Dublin and the Greater Dublin Area, representing 56% of housing completions.
"The need for an equitable distribution across the country is now crucial," Sherry Fitzgerald said.
"Rural and regional Ireland faces significant declines in available housing stock, necessitating the delivery of new stock to rejuvenate their housing markets," the report states.
The report also highlights the lack of housing stock in lower price categories.
It said the sub-€200,000 range has experienced a 35% drop in supply, leaving only 2,500 properties available to buy nationwide.
"This shortage disproportionately affects those with single or lower incomes, highlighting the pressing need for affordable housing solutions," the report states.
