DNG Maxwell Heaslip & Leonard launches first auction of 2014 ahead of predicted house price rises

Leading Galway property expert DNG Maxwell Heaslip & Leonard is due to kickstart its New Year with the west of Ireland’s first auction of 2014 on February 28 next. The auction, which will take place in the Radisson Blu Hotel in Galway, promises to be an engaging event with the usual eclectic mix of properties, with something to suit all types of buyers. Rahoon, Newcastle, Carnmore, Kilcolgan, and Gort are just some of the locations represented in the auction.

This latest auction will see the city centre based firm continue on from where it left off in a successful 2013, with plans to provide an even better service for all its clients. Last year saw the innovative agent become the first auctioneer in the west of Ireland to live stream an auction online, with its November auction watched in 12 countries. Part of the biggest national brand in the country, it sold properties on the auction floor to buyers from the UK, Singapore, Germany, Australia, and the USA.

Making the announcement of the launch, following on from its recent prediction that Galway house prices could see increases up to 15 per cent in certain areas, the city based agent is gearing up for a hectic 2014. The predicted increases come on the back of the last quarter of 2013 sales figures, which the company says were 12 per cent up, in its offices, on the same period for the previous year, and signs are that the much publicised residential increase in Dublin sales, have already filtered through to the Galway market.

At a presentation in late December to the Irish Home Builders Association, DNG Maxwell Heaslip & Leonard highlighted a number of factors which will likely see house prices climb in 2014, with specific emphasis on the lack of second hand properties on the market to meet an ever increasing demand, the huge demand for residential lettings, and the lack of new homes built in the past year. Making the presentation, director James Heaslip commented: “In 2013, there were approximately 460 new builds commenced, with only 26 of these in new developments. This was nowhere near enough to meet the pent-up demand, and with so many first time buyers opting to buy rather than pay rent, the pressure is on to bring properties to the market.”

Interestingly Mr Heaslip added: “The number of residential properties bought by cast buyers in the last half of 2013 is down by almost 20 per cent on the previous six months, while the volume of residential sales were up for the last six months. This shows that the banks are certainly lending and are keen to do business, and this is also a factor which will have a positive effect on the market.”

Details of DNG Maxwell Heaslip & Leonard’s upcoming auctions can be obtained by contacting any of the auction team at galway@dng.ie or by calling 091 565261.

 

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