Rise in number of new homes built in Ireland
New figures from the Construction Industry Federation show that during the first five months of 2013 the number of new starts around the country increased slightly compared to the same period in 2012, but with significant increases in Dublin (361 units started between January and May a 25% increase on the 2012 levels), Galway (a 38% increase) and Cork (13%).
CIF Director of Housing, Hubert Fitzpatrick said: “What we are seeing is in most urban centres the supply is falling and this is creating a strong demand for new housing stock, prompting work to begin on new housing units. We would expect to see the growth in new house starts continue in Dublin, Galway, Cork and certain other counties, particularly in some of the areas surrounding Dublin.”
The UK’s top home improvements
Installing a new kitchen is the most popular home renovation carried out in the last three years, according to Gocompare.com figures, and also the top improvement planned for the future. In second place in terms of work carried out is a new bathroom, followed by a new boiler and then an extension. Around 2% carried out a cellar conversion and twice that plan to do so in the next three years.
Gocompare.com’s home insurance spokesperson, Mark Greening, commented: “Undertaking a home renovation or extension not only helps to improve or increase your living space, but can add to the value of your property and your fixtures and fittings. So, whether you are planning an extension, installing a new kitchen or other major renovation, you should consult your home insurer before you start work so that you can review your sum insured and make sure your plans don’t invalidate your cover.”
Average price of Prime London property now over £2m
According to estate agents Marsh & Parsons property prices in ‘Prime’ London have grown by 3.6% in the last three months which means the average property in Prime Central London is now worth more than £2 million. Peter Rollings, CEO of Marsh & Parsons, said: “It’s true that the imbalance of supply and demand is pushing property prices higher in Prime London areas. But it’s also creating an excellent time to sell property. Helped by the rapidly improving availability of mortgages, buyers are queuing up for the chance to buy a Prime London home. Property is changing hands in record time and for close to the asking price, with 98% of the asking price for Prime London property regularly being achieved.” Two-bedroom properties experienced the largest growth spurt in the last three months, with a 6% value increase compared to the previous three. The slowest movers were one-bedroom properties.
Pictured is an eight bedroom detached house for sale in Croghan, Offaly, Ireland, on with Ganly Walters. Offers over £751,202 (€875,000).Tagged in: home improvements, ireland, prime
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