Trapped by the Housing Crisis: Why Cork Homeowners Are Stuck

Housing Cork

The property market is facing a significant challenge—a catch-22 that has left many buyers and sellers frustrated. With second-hand home availability down by 20% over the past year, the market is stuck in a vicious cycle. Families looking to trade up to a larger home are finding few options, while older homeowners who wish to downsize are unable to find suitable properties. So, why is this happening, and what can you do about it if you’re considering selling in Cork or West Cork?

The Root of the Problem: Fear of Moving Without Finding another home

Many homeowners are holding off putting their properties on the market. They worry they won’t be able to secure their next home, whether it’s a larger property for a growing family or a smaller, more manageable one for retirement. This hesitation creates a blockage in housing supply, reducing options for everyone.

For example, young families eager to move into bigger homes are met with a severe shortage of options. The larger homes they need are occupied by downsizers who can’t find suitable properties tailored to their lifestyle and needs. This stalemate perpetuates itself, leaving would-be movers feeling trapped.

What About New Homes?

While the construction of new homes has increased, the numbers remain well below what’s required. In 2024, 34,000 new homes were completed, and 2025 is projected to see 45,000. Yet, the demand is for at least 60,000 homes annually—a figure we are far from meeting.

Even among the new homes being built, there’s an imbalance. Many developments cater predominantly to young, first-time buyers who benefit from schemes like Help-to-Buy. But what about homes designed for an ageing population? Developments often lack a diverse mix of housing types that suit all buyers, leaving downsizers with limited options.

This is a missed opportunity. Thoughtful planning, such as incorporating homes tailored for older residents and establishing community hubs where people of all ages can connect and support one another, would encourage more movement in the market.

Why Waiting to sell Isn’t the Best Option

Many sellers mistakenly believe they can wait until they find their dream home to list their property. However, this approach creates another roadblock. The majority of buyers rely on the sale of their current home to fund their next purchase. Without their property on the market, they are not considered purchase-ready.

For instance, agents are unlikely to accept offers from buyers who haven’t sold their own property, leaving them at risk of losing out on their ideal home. So, what’s the solution?

How to Break the Cycle and Get Moving

The key to navigating this challenging market is preparation. If you’re considering selling your home, here’s how you can position yourself for success:

1. Speak to an Estate Agent Early – Book Your Free Consultation here
   A knowledgeable agent can provide valuable advice on the current market and help you plan your sale strategically.
2. Prepare Your Home for Sale
   Declutter, clean, and make minor improvements to ensure your home is market-ready.
3. Get Photos and Marketing Materials Ready
   By having professional photos and brochures prepared, you’ll be ready to launch your property to the market as soon as you decide to move.

The Bigger Picture Housing Cork

To truly address the current housing crisis, we need a more balanced approach to development. This means not only increasing the volume of homes being built but also ensuring that new housing meets the needs of all demographics. Communities thrive when they’re diverse, with homes that cater to first-time buyers, growing families, and older residents alike.

As homeowners, being proactive and prepared can help break the cycle. By putting your property on the market, you’re contributing to increased housing supply and helping others find their dream homes.

The property market is challenging, but with the right advice and preparation, it’s possible to navigate it successfully.

Sell House Cork and West Cork

If you’re thinking of selling your property in 2025, now is the perfect time to take advantage of the high demand and limited supply in the West Cork property market. Whether you own a coastal property, a country home with land, or a turnkey bungalow, we can help you achieve the best price. Contact us today to start your property journey in 2025

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