Property market: Is now the time to buy?

House prices, number of buyers and mortgage lending are being shaped by Covid-19

If you’ve got a crystal ball then you’ll know exactly what’s going to happen to house prices. Photograph: iStock

If you’ve got a crystal ball then you’ll know exactly what’s going to happen to house prices. Photograph: iStock

Those lucky enough to have avoided a major income hit from coronavirus, also known as Covid-19, may find themselves better placed than many to buy a home this year. Stock levels, house prices, the number of buyers and mortgage lending are variables all being shaped by the virus. The result may prove opportune for some.

Buying power

There are few upsides to lockdown, but for those whose income has not been impacted, their finances have never been healthier. By the end of this year, households will have between €10 billion and €15 billion extra in their bank accounts because they can’t spend it, analysts say.

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