Residential prices up 11%
As we head into the latter half of 2017, the rise in property prices show no signs of slowing down.
Latest figures indicate that price growth accelerated in June and July, with prices now growing at a rate of 11.6 per cent on an annual basis.
According to the Central Statistics Office (CSO), in the year to June, residential property prices rose by 11.6 per cent, compared with an increase of 11.1 per cent in the year to May and an increase of 5.5 per cent on the previous year up to June 2016.
The spike in prices can be contributed to a number of factors. These would include the improvement in the economy, the increase in mortgage approvals and the continued lack of supply.
Director for The Leinster Property Auction, Patrick Folan states that: “With positive market conditions and a continued lack of supply, now is an excellent time to sell residential homes, commercial properties and agricultural lands.
“Our last auction sold 86% of the properties offered and we are expecting strong interest in the properties on offer at our upcoming auctions on September 28 and December 7.
“We are inviting properties owners to contact us to discuss selling and we can arrange a free valuation for clients.”
Some of the properties up for auction include: Connells Garage, 6 Clonee, Killoe, Co. Longford in partnership with John Columb & Co; 45 Main Street, Co. Longford in partnership with Padraic Davis Auctioneering; and Marden House, Carnalynch, Ballieborough, Cavan in partnership with Martin Shortt Auctioneers.
Please contact the auction team on 01 687 5040 to arrange viewings or indeed a free auction appraisal. Visit www.leinsterpropertyauction.ie or www.holidayhomepropertyauction.ie.