Some 58% of prospective buyers have been able to save more money for a deposit since the start of the pandemic.

However 41% think buying is more competitive than it was before Covid-19.

The research comes from MyHome.ie, a property portal based in the Republic of Ireland.

Angela Keegan, managing director of MyHome.ie, said: “These survey findings show us that prospective homebuyers are still largely insulated from the economic effect of Covid-19, but the virus has still had a significant effect on the sector – supply issues are still a huge concern due to the suspension of construction activity during the first lockdown.

“Once the economy gets back up and running we will hopefully see an increase in construction activity which would redress the balance between supply and demand.

“Our analysis shows that stock levels are down by 27% year-on-year, which is particularly concerning. We need this to be addressed.”

Housing supply is still the most pressing concern for prospective homebuyers, with 42% saying that an increase in available stock would encourage them to buy a property now.

Nearly three quarters (72%) of potential buyers are planning on purchasing a property in the next year.

IDX Real Estate