With the current shortage of new homes to buy in the capital, Savills must know something we don’t as it announces the expansion of its new homes division to meet increased activity.
It has appointed new associate, Stephanie Patterson and senior sales negotiator, Lyndsey Boland, to its specialist new homes team, boosting their number to eight.
Patterson returns to Savills after five years with London based agents Chestertons. Previously, she was with Savills for more than eight years. Boland joined Savills in 2012 and worked as a senior property manager in its lettings division before joining the new homes team last month.
She has extensive experience in the letting and property management of multi-unit developments. Meanwhile, Linda Forsyth has been promoted to head of operations within the division.
Savills says its new homes sales last year came in at €100 million – the highest since the economic downturn. David Browne, new homes director, says the significant increase is due in part to the variety of product they are preparing for launch – from luxury Dublin apartments to housing stock in the suburbs and greater Dublin area.
However, he warned supply is still far below where it needs to be: “Last year, the sale of just over 2,000 new homes completed in Dublin.
“However, over 30 per cent of those were sold as part of multi-family investment sales, bringing the actual figure closer to just 1,400 units. As has been well documented, there is a requirement for 12,000 new units to be delivered per annum in Dublin alone, so we are still a long way off.”
