Irish Property News Update
Grafton Group – Woodie’s DIY, Chadwicks, Heiton Buckley
Grafton Group are reporting an sharp rise in trade in Ireland as the economy shows some signs of improvement. 13.9% growth in fact. Grafton Group control Woodie’s DIY, Chadwick, and Heiton Buckley. Grafton Group is estimated to serve over 20% of the trade customers in Ireland.
The rate of revenue growth in the Merchanting business in Ireland increased sharply during 2014 as the impact of the market recovery spread and the economy moved on to a stronger growth path. Revenue growth was initially concentrated on the residential RMI* market but extended into the new housing market where output increased from very depressed levels as the year progressed.
RMI = Repairs, Maintenance and Improvement
See 8th of January trading update on http://www.graftonplc.com/
Northern Ireland Commercial Property prices reach pre-crisis levels
This is not necessarily good news but according to Savills Northern Ireland, commercial property prices have reached pre economic crisis levels. There were approximately £500m of commercial property deals in Northern Ireland which is up 186% on 2013. This reads like a press release from Savills themselves and it contains the bold claim that they transacted 78% of all investment deals in 2014.
See full report here on PropertyWire.com
West Cork headland sells for €1.35m
A young Irish couple, based in London, has bought the 30 acre, 2 house, private beach, headland only 1.5 hours drive south west from Cork City. God only knows why. Although it is only 8km from Skibbereen, a town with a population of 2500 people.
It’ll be a big change from London unless they only use it as a holiday destination. In either case it’s hardly the investment of the year but it’s been widely reported here, here and here.
Where? Google maps link.
Best of luck to the happy couple.
Other Property News
You might want to check out this weeks Sunday Business Post (11th January 2015) as they have a write-up entitled
Rental squeeze: how to get more income from your investment property
….
Happy New Year folks