MORE MONEY IN YOUR POCKET

One of the factors contributing to the buoyant property market is the fact people have more money in their pocket due to the pandemic with restaurants, pubs and retail all closed. People have not been spending as much of their disposable income over the last year and have been saving money in the process.

SAVINGS

Banks have seen substantial savings on deposit due to this position and this has afforded people more of a deposit for their new home, trading up or putting on that sunroom extension they have always wanted. The Central Bank has estimated €124 billion on deposit in Irish banks.

STAYCATION

With remote working this has seen people’s commuting costs reduce dramatically and there has been no foreign holidays in 2020 and unlikely to be in 2021.

SOCIAL SCENE

The continued lockdown with restaurants, hotels and pubs not projected to open before July/August of this year, will mean that money on deposit in the financial institutions will continue to increase.

Liam Hargaden

Director

FSCSI, FRICS

Mobile: 086-2569750
E-mail: liam@jordancs.ie

Liam is a Fellow of the Society of Chartered Surveyors Ireland and has been working in the property business since 1989. Liam a native of Carlow was educated at Newbridge College and is a Director of Jordan Auctioneers having previously worked with Paddy Jordan in C.B.A Estates. Liam has acted for many developers and private individuals bringing enthusiasm and exceptional negotiation skills to each transaction with particular areas of specialisation including residential & country sales, valuations & development land.

Licence No. 001536-00177