New research shows number of properties for sale in Waterford is below national average

NEW FIGURES compiled by Savills Ireland indicate that Waterford is among the counties with the lowest number of available properties for sale.

The results of the analysis shows Waterford is ranked 14th on the list with just 297 homes advertised for sale, across the city and county, on August 19.

With the most recent census showing Waterford has a population of 131,598 people, that means there were just 22.6 second-hand homes for sale per 10,000 people on the day.

Dublin ranks eighth on the same list with 2,912 homes for sale - the equivalent of 19.5 properties per 10,000 people.

Monaghan had the lowest number of available properties on August 19 based on its population while Leitrim had the highest.

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The research also suggests there has been a notable shift in relation to the rental market as there is an even greater scarcity of rental properties in Waterford and across the country compared to properties for sale.

Limerick is ranked 11th on that list, according to Savills, with 65 available rental properties on August 19 - a ratio of 4.9 properties per 10,000 people.

The figures show that on August 19 there was an average of 5.9 properties for rent or share per 10,000 people nationally.

Commenting on the research and analysis, John Ring, Director of Research at Savills Ireland, said: “The starkest finding of this analysis is the shortage of rental stock across the country and it is not clear how this issue is going to be resolved. Apartment development, the traditional channel by which rental stock has been delivered historically, is unviable in most locations outside of Dublin, with no new apartment delivery of scale taking place since the crash. Furthermore, lending for buy-to-let investment is miniscule, while many existing landlords are exiting the market."