'Extremely strict conditions' causing Leitrim landlords to exit market
While landlord sales increase supply in the short term, the longer-term implications for the second-hand market are concerning,, IPAV Chief Executive warns
The second half of last year saw a notable slowing in the rate of increase in residential property prices in Leitrim and across the country, according to the latest IPAV Residential Property Price Barometer just published.
Genevieve McGuirk, IPAV Chief Executive said that without doubt landlords are exiting the market in advance of new rent legislation due to take effect on March 1st, with some agents reporting that up to 60% of sales are arising as a result of the new rules.
“The fact that the legislative detail as set out in the Bill is more onerous than initially anticipated, for example, placing extremely strict conditions on smaller landlords wishing to end tenancies in order to sell their properties, could be problematic. This may have unintended consequences,” she warned.
While landlord sales increase supply in the short term, the longer-term implications for the second-hand market are concerning, she said. A sustained reduction in rental stock may further limit options for tenants, while a weaker second-hand market could reduce choice and flexibility for buyers, including existing homeowners wishing to right-size.
She said that while Government is investing in new builds agents report many locations are lacking such development, including parts of the commuter belt.
“This is potentially very worrying; we need a second-hand market, including in Dublin. A healthy second-hand market is essential, not least because it often provides more affordable options than new builds.”
She said given the prolonged nature of the housing crisis, and greater economic uncertainty, time is of the essence.
“We need to see the Government’s housing plan delivering at pace,” she said. “With supply pressures continuing there is likely to be ongoing upward pressure on prices, particularly for quality, well-located properties. And anecdotal evidence would suggest price levels very much holding up so far in 2026.”