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The residential sales team in DNG Maxwell Heaslip & Leonard have reported their busiest start to a year since the downturn in 2007/08. Their latest statistics indicate that first time buyers and those trading up are the most active buyers in the current marketplace. Based on the same period last year, the Galway city based agent has seen a 12 per cent increase in the volume of houses sold, with a 13 per cent average increase in prices achieved across the city and the surrounding suburbs. While the agents are delighted with the latest figures, which are slightly higher than the average reported house prices nationwide, they are fully aware that there is a major supply problem in Galway at present.
The Institute of Professional Auctioneers & Valuers (IPAV) is calling on the Government to concentrate solely on measures that will lead to an increase in housing stock in the country.
Acceleration in house prices can be expected to continue until supply ramps up on its current “anaemic level”, the Institute of Professional Auctioneers & Valuers (IPAV) has warned.
Responding to this week’s vacant homes strategy, the Institute of Professional Auctioneers & Valuers (IPAV) said it is unlikely the strategy can impact hugely on the housing crisis, given its scale and the complexity of measures involved, such as facilitating the use of vacant properties of those in nursing home care.
While the Central Statistics Office (CSO) residential property price index shows inflation nationally increasing to 11.9 per cent in May, it is important that the Government is not forced into panic measures such as ending the Help-to-Buy scheme.
Having disposed of most of their properties in the area, Downes & Sons Auctioneers are seeking all types of properties for sale.
House prices will continue to rise until supply improves dramatically, the Institute of Professional Auctioneers & Valuers has stated.
The housing shortage currently being experienced across Ireland is the result of a decade of underinvestment, according to the Construction Industry Federation (CIF).
The Institute of Professional Auctioneers & Valuers (IPAV) says until the lack of supply of residential homes is addressed, house prices will continue to rise.
The Institute of Professional Auctioneers & Valuers (IPAV) says Irish consumers can get used to the price of housing continuing to rise until supply increases.