Auctions scene dominated by 'big six'

Agency Share: It was another exceptionally busy and profitable year for estate agents, particularly in the Dublin market where house prices rose by between 10 and 15 per cent in prime areas.

Warnings that the property market was heading for trouble, possibly even negative equity, scared some early in the year, but despite several economic reports that property was overheating, buyers continued to chase good family homes and apartments to let.

After two years of uncertainty in the auction rooms and fewer auction sales, the well-tried system again proved the best way to sell high-value houses.

According to figures compiled by The Irish Times, a total of 931 auctions were held through the year in the greater Dublin area, compared with 804 auctions in 2002.

The Big Six Dublin estate agencies - Lisney, Sherry FitzGerald, Hamilton Osborne King, Douglas Newman Good, Gunne Residential and Jackson-Stops - maintained their position of dominance, handling over 81 per cent of auctions in the Dublin/Wicklow area.

Lisney held the top spot in the auction league table for the third year running, taking a 26 per cent share of the market with its 247 auction sales. Lisney also maintained its position as the top agent for selling expensive homes, handling five of the 12 highest priced house sales (see table, page 1).

Sherry FitzGerald comes in second in the table. Its 195 auctions in 2003 represent a 21 per cent share of the market, a drop of 1 per cent on last year.

Douglas Newman Good increased its share of the market to just over 12.5 per cent, a rise of over 2.5 per cent on last year. It handled 115 auction sales this year. The agency made significant gains at the upper end of the market, selling a number of expensive period homes, particularly in Dublin 6 and south Dublin.

HOK Residential kept its position in fourth place of the league, taking 8.8 per cent of the market with its 82 auction sales. This is marginally up on last year when it held 8.6 per cent of the market.

Gunne Residential is in fifth place, having handled 67 auctions. This gives the agency just over 7 per cent of the market, almost exactly the same percentage as last year.

Jackson-Stops too held steady at sixth place in the auction league table, with around 5.3 per cent of the market, slightly up on last year. However, the agency made considerable headway at the upper end of the market handing several high-profile properties, including two €5.1 million-plus houses in Dublin 4. The agency also negotiated the sale of historic Lissadell House in Co Sligo.