Rise in home sales half of last year’s figure

THE number of auctioneers and valuers reporting a second quarter rise in sales after the traditional post-winter slump is less than half the same figure for last year.

Details provided by the Society of Chartered Surveyors Ireland (SCSI) — which includes the Irish Auctioneers and Valuers Institute (IAVI) — show agreed house sales rose 14% between April and June compared to the January to March period.

However, the growth is significantly lower than the 32% rise during the same period last year.

The statistics were calculated by the SCSI based on 200 responses from members across the country.

When asked to explain an official statement from the group which provided the top-line 14% rise figure, Ed Carey, the chairman of the SCSI’s residential property professional group, said it was a “net balance”.

This means the 14% rate is based on 41% of the group’s respondents saying sales are up, 27% saying sales are down and 32% saying they are stable.

Mr Carey said the growth is based on a first quarter agreed sales rate which, even taking into account the long-standing property market difficulties, was “disappointingly” low. “We are not trying to mask this with management or spin,” he said.

Dublin (44% second-quarter rise compared to the first quarter), Munster (10% rise) and the West of Ireland (7% rise) all increased during this specific period. In 2010, the Munster level for the same time-span was 23%.

However, the South-East agreed sales rate among the SCSI respondents fell by 12%, with the corresponding figure for the North-East also 10% down.