Episode 119: Navigating the Property Sector: A Deep Dive into the Market with Helen McCormack Estate Agents

AIBF Business Talk

In this captivating episode of the AIBF Business Talk Podcast, host Elaine Carroll delves into the world of property with Helen McCormack, a seasoned Estate Agent with 22 years of expertise in Property Sales, Lettings, and Property Management.
Helen leads a dynamic team, recently honoured with SUPERTEAM status by the AIBF, focusing primarily on Limerick City and County.
Current Property Market Overview:

The property market is robust, reflecting the wider economy which fosters confidence in the sector. Limerick and the Mid West Region are experiencing phenomenal growth, driving Supply and Demand.
Notably, first time buyers are very active with bidding wars being very common. Listed prices in Q4 were up 9% and sold for prices far exceeding owners expectations in the vast majority of Sales. The PPR will reflect strong closing prices in Q1 2024.

Current Trends in the Marketplace:

• Very good demand for property with higher Building Energy Ratings in the second hand market, partly driven by the more competitive Green Mortgage rates.
• Consumer choices including remote working, broadband availability, affordability and the desire for space has narrowed the gap between the city suburbs and commuter towns and villages.
• In the Commercial sector lucrative choices can be made by examining the local market and landscape carefully; incorporating the past and maintaining a cautious optimism about the future.

• Government initiatives including the First-Time Home Shared Equity Scheme are continuing to gain further uptake. The Cost Rental Tenant in Situ Scheme has been a great incentive to protect tenants but simultaneously has created congestion and fuelled lack of supply in the second hand market, and highlighted the lack of Social Housing and affordable rental property available.
  

Looking Ahead to 2024:

Helen McCormack Estate Agents express confidence in the property market 2024 anticipating further demand throughout cities, suburbs, commuter towns and rural areas. Challenges remain for those who wish to trade down and the lack of supply of Social Housing. Helen predicts a continued interest in commercial and residential investment, particularly from pension investment interest.
Don't miss out on valuable insights into the property market! Tune in to the AIBF Business Talk Podcast and stay informed on the latest trends and opportunities.

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