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Surge in property sales since restrictions lifted

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The residential property market has experienced a surge in activity since restrictions on the industry were lifted in May.
Homebuyers who have seen house prices surge during the pandemic now face a further, potentially ‘significant’, rise due to the housing shortage, the Central Bank has warned.

Pent up demand and a shortage of supply have resulted in homes selling for 10% or more over their guide prices in the past year.
In the year to April, the cost of houses and apartments rose 4.5% nationally, according to the Central Statistics Office (CSO) residential property price index.

The Central Bank expect the trend of rising house prices to continue due to the disruption to new house building during the pandemic and the build up of savings of some households.

‘’With existing supply constraints, a high degree of pent-up demand and a recovery in the flow of mortgage credit, the conditions for significant upward momentum to house prices in the months ahead appear to exist’’, it said.

A report conducted by the CSO has found that property buyers, including first time purchasers, previous owners and investors, are now purchasing residential property significantly later in life.

The median age for a sole purchaser rose from 34 to 42 between 2010 and 2019 while for joint purchasers, it rose from 35 to 38 over the same period. The Central Bank lending rules have had an impact on this as has the significant increase in the cost of renting in Ireland.
Another recent study (ESRI) found that home ownership by the age of 30 was 60% for those born in the 1960s compared to just 32% for those born in the early 80’s.

These national trends are evident on a local level with the significant shortage of supply being a dominant factor in rising prices. ‘Pent up demand and a shortage of supply of available properties is resulting in significantly higher prices being achieved at present’ says Ted Healy of DNG. ‘We are currently agreeing sales within 2 weeks of properties being listed with us and have a list of buyers registered with us seeking properties in Killarney at present.’

For anyone interested in a DNG appraisal of their property, contact DNG Ted Healy on 064 6639000 or email killarney@dng.ie

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New Fexco partnership to create 75 jobs

Kerry based financial technology and business services company Fexco and digital services company, TEKenable have announced a strategic partnership to help create 75 new jobs by 2025. The Fexco Managed Services […]

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Kerry based financial technology and business services company Fexco and digital services company, TEKenable have announced a strategic partnership to help create 75 new jobs by 2025.

The Fexco Managed Services and TEKenable partnership will see both organisations co-invest in Microsoft Dynamics 365 Products and Salesforce Cloud Solutions and Services aimed at improving their collective customers end-to-end experience across both Irish and UK markets.

This partnership combines TEKenable’s experience in providing Microsoft Dynamics 365 consultancy, development, and support services to their customers, with Fexco’s experience of premium operational delivery, customer management and process optimisation experts. This partnership will also see the creation of 75 new jobs by 2025, with roles created within Digital Customer Experience, Predictive Customer Behaviour Analysis, and Automation & Operational Efficiency services.

“This partnership will help us build on our collective strengths, and deliver the perfect blend of premium operational expertise, support, and resources to maximise the potential of Microsoft Dynamics 365 in improving our customers’ digital end to end experience,” Martin Ryan, Managing Director of Fexco Managed Services and Advisory Services, said.

“This will see us and TEKenable collaborate across multiple sectors and reinforce our position as trusted advisors who deliver transformative services for our clients.”

TEKenable was founded in 2002 by Nick Connors and Peter Rose is an innovative technology company focused on delivering digital services through Low Code platforms to medium and large-scale enterprises in Ireland, UK and EMEA.

Nick Connors, Managing Director with TEKenable added that “this partnership will see us work with Fexco Managed Services to bring solutions, products and services offerings that will fundamentally change the end-to-end experience of both our customers, and their customers”.

“We predict that we will see growth from a combination of existing and new clients over the coming three years.”

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Headford man’s 1948 Jaguar the star of car run

A staggering 157 classic and vintage cars and motorcycles took part in the 12th annual Car and Honda 50 Run, organised by Ballymac Vintage Club on Sunday. The O’Riada’s Bar […]

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A staggering 157 classic and vintage cars and motorcycles took part in the 12th annual Car and Honda 50 Run, organised by Ballymac Vintage Club on Sunday.

The O’Riada’s Bar and Restaurant-based event raised money for the nearby Glanageenty Walkways and followed a new for 2022 route via Ballymac, Raemore, Knocknagoshel, Brosna, and Mount Eagle before the finish line in the Mart Yard in Castleisland.

Gerard Healy from Knockysheehan, Headford, Killarney had the oldest cars on the run.

He has owned his 1948 Jaguar Mark 4 saloon for the last seven years.

“This car was manufactured in Coventry after World War Two,” he said. “And it was then shipped to Ireland in kit form to avoid high import duty on complete cars. It was reassembled in Dublin and painted emerald green. This is a Sligo car, the first owner was a Miss Teresa Ferry, it was very unusual for a lady to own a car in those days.”

The car was then sold to a vicar and then a soldier before, somehow, ending up in The Netherlands. There it underwent a full restoration in 1999.

Gerard bought the car from a restorer called Roberto Verboon.

“I was proud to bring the car back to Ireland,” he added.

Thanks to generous support from local businesses and sponsors including O’Riada’s and BG Motors over €500 worth of spot prizes were handed out on the day.

Listry’s Tony and Kay Darmody were prize winners after judges were impressed with their Hillman Minx Convertible.

George Carey from Tralee won the motorcycle award with his finely turned out 1986 Honda 90.

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