Sunday 17 December 2017

Ask the experts: Are prices falling or static in any locations that you can think of?

Claire Solon, President, Society of Chartered Surveyors. Iain White/Fennell Photography
Claire Solon, President, Society of Chartered Surveyors. Iain White/Fennell Photography
Michael Grehan, managing director, Sherry FitzGerald
Marian McQuillan, Ceo of Quillsen
Keith Lowe CEO Douglas Newman Good

Claire Solon

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Claire Solon, President, Society of Chartered Surveyors. Iain White/Fennell Photography

Our regional members report that there are many locations around the country yet to experience any uplift for a number of reasons, not least of which is the lack of employment opportunities outside the bigger towns and cities.

Claire Solon is president of the Society of Chartered Surveyors Ireland, with 5,000 members in the property sector, and head of property at Friends First, where she manages €500m of property assets.

Eamonn Spratt

Eamonn Spratt, Real Estate Alliance

Prices were static in commuter towns such as Ashbourne, Blessington, Naas, Maynooth and Celbridge in Q4, with low-growth figures in 2016.

Eamonn Spratt is chairman of the Real Estate Alliance, a partnership of more than 50 auctioneering firms nationwide. He is also the third generation to run the family estate agency REA Spratt in Dungarvan, Co Waterford, where he has worked for 28 years.

Michael Grehan

Michael Grehan, managing director, Sherry FitzGerald

As increasing volumes of new homes come to the market, it is possible that there will be a muted price effect on the existing established housing stock in the immediate surrounding areas, as new buyers are drawn to the perceived advantages of buying a new property.

Michael Grehan s the managing director of the Sherry FitzGerald estate agency group, which has a 66-branch-strong network including franchises. He has more than 27 years' experience in the sector.

Marian McQuillan

Marian McQuillan, Ceo of Quillsen

In the early part of 2016, apartment prices were pretty static but increased somewhat - maybe around 5pc in the latter part of the year. Strong demand in the family- home market (primarily

three- and four-bed semis in mature residential locations) has resulted in increased prices throughout the latter part of 2016, and we envisage this continuing into 2017. Higher-value properties - €1.5m-plus - have shown slowest growth largely because there is a smaller number of buyers being prepared to trade up. We believe that, in the main, this is because trader-uppers are more cautious about indebtedness and are making improvements and doing extensions to their existing properties.

Marian McQuillan is the CEO of Quillsen, formerly Gunne Estate Agents, and was formerly a director of Purcell McQuillan Tax Partners.

Keith Lowe

Keith Lowe CEO Douglas Newman Good

Whilst there was some evidence of price stabilisation in many areas in 2015 due to very high price inflation the year before, due to the ending of CGT relief scheme, properties located in virtually all areas of Dublin have experienced some level of price rise in 2016, and this is likely to be replicated this year across the board.

Keith Lowe is CEO of Douglas Newman Good, which has 75 offices throughout the country. He has 32 years' experience in the sector, having joined the firm in 1984.

Irish Independent

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