Covid exodus saps demand for homes in London but not Dublin – Independent.ie

Ireland’s property market has yet to record the kind of summer sales surge being experienced in post-lockdown Britain.

K industry data published yesterday identified an exceptional number of homes sold between mid-July and early August, reflecting pent-up demand from the coronavirus lockdown and a desire to leave costly London.

Property website Rightmove, used by nine-tenths of British estate agents, reported the highest number of monthly home sales since it began tracking such data more than a decade ago.

Rightmove said UK sales for the four weeks covering July 12 to August 8 totalled £37bn (€41bn), 38pc higher than for the same period a year ago and 20pc higher than the previous monthly record set in 2017.

It said asking prices nationally were 4.6pc higher than a year ago, while London’s prices were 2pc lower.

But Trinity assistant economics professor Ronan Lyons, who authors market reports for Irish property site Daft.ie,

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