TALK is generally of a property slowdown from most quarters . . . except from the estate agents themselves. Last week was yet another good week for Hooke & MacDonald, the country's largest agents for new homes, who reported sales of over 80m. Its biggest success story was Greeg Court, a Section 23 city centre development in Parnell Street, Dublin 1, where all 115 apartments sold out. Meanwhile the 100 mark has been surpassed at Church"elds, Ashbourne, which was launched three weeks ago.

Douglas Newman Good also reported healthy investor activity, particularly in Kilkenny city last weekend with the sale of 53 apartment properties at its Section 23 'New Quarter' development within the MacDonagh Junction town centre. Purchasers were evenly divided between Dublin and local buyers. "This makes it the biggest selling development outside Dublin this year, " said Keith Lowe, CEO of DNG. "Up until recently, many new homes buyers and investors have been taking a 'wait and see' approach to purchasing property, however we have noticed a signi"cant increase in sales activity across the new homes market in the last fortnight.

ONE IN TEN REDUCE PRICE OF PROPERTY

SINCE the start of this year, one out of every 10 sellers reduced the asking price of their home in an effort to generate a speedier sale, according to research by the property website Daft. ie, announced last week. Some price drops have been headline grabbers with reductions of 800,000 at the higher end of the market not uncommon, but in general, the majority have been less than 5% of the initial asking price. The website portal also reports that one out of every "ve properties listed on their site in January 2007 remains for sale nine months on.

According to economist Ronan Lyons, the vast majority of sellers are reluctant to reduce their asking prices "even though anecdotal evidence points to the fact that dropping your asking price by as little as 1-5% can lead to a faster sale.

"The findings are interesting and come at a time when the market is usually launching into a period of activity. Last year in quarter three, asking prices rose by almost 4%. In this quarter they have fallen by 2%."

HIKE IN RENTS AFFECTING THE LOW-PAID

THE SECTOR most affected by this year's 10% hike in rents is undoubtedly those in low-paid employment. Increases are expected to average at 12% by the end of 2007, while Threshold . . . the not-for-profit organisation which campaigns for housing rights . . . says some of their clients have been hit by increases of up to 20%.

Pressure is being experienced most acutely in urban areas where increasing numbers of low income families are presenting with rent arrears. The Threshold 2006 annual report will be published tomorrow in the Empty Space Theatre, Smock Alley, Dublin 2, with Minister for Housing, Batt O'Keefe TD, officiating.

CELEBRITIES VOLUNTEER FOR BUILDING BLITZ

FUTURE residents of a planned residential development in Cape Town's so called Freedom Park will be tickled pink to know that among those who got stuck into the bricks and mortar were a telly garden designer, a multi-millionaire property developer, a sports presenter, a Corr hubby, and a Hollywood hell raiser. Among the 1,000 plus volunteers enlisted for Niall Mellon's "fth annual township trust building blitz to South Africa are Diarmuid Gavin, Sean Dunne, Des Cahill, Sharon Corr's barrister husband Gavin Bonner, and actor Colin Farrell (above).

The event takes place on 2 November and volunteers will have a target to build 200 houses, a community centre and a 'Garden of Hope' in Freedom Park.

Although the government of South Africa has been involved in building some 2.1 million homes since the fall of Apartheid in 1994, it is estimated that at least 2.4 million families are still in dire need of housing.