Tuesday, April 06, 2021

The benefits of the remote working boom for Mayo could be scuppered by a lack of available homes for sale and rent.

It is hoped that Mayo will see an influx of young professionals returning home or relocating but a massive deficit of properties is dashing those dreams.

On property website Daft.ie there are only 42 properties listed in the entire county for rent. The property site list just four available homes for rent in Ballina and local auctioneer Liam Brady, of Garrett Loftus & Associates, said the lack of supply of properties for rent and sale is hugely concerning.

“The lack of properties is frightening, to be honest,” said Mr Brady.

With very few new homes being built in Mayo over the past year, the county simply does not have the supply to meet the demand from renters and buyers.

“What’s happening is that particularly around this part of the county, there are very few new housing estates being built so there is no new supply coming into the market. There is a good influx of people moving back from different areas looking to rent or buy and the problem is there is a lack of properties for them to buy or rent,” he added.

As well as impacting the number of new homes being constructed, the pandemic has seen a slowdown in the turnover of rental properties. “People aren’t relinquishing their leases, they are holding on to them,” Mr Brady commented.

As the worsening pyrite situation in the Ballina area unfolds, the lack of available rental properties for people forced to move out of their homes could be catastrophic.

“If people have to move out of their house then where do they go? At the moment there are no properties available at all. Where is the supply going to come from? I don’t know,” said Mr Brady.

His office has been inundated with calls from people looking for properties.

“People are ringing all the time. They say there are none on Daft, there are none advertised in the papers. They contact us in the hope that a property that hasn’t been advertised yet might become available but there isn’t any. To be honest I don’t see the prospect of new properties coming to the market looking too good,” stated Mr Brady.

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