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End of the ‘doer-upper’: rising cost of renovations cripples demand for ageing homes

Irish property prices have caught the builders blues with a sudden surge in renovation costs seeing the values of older homes falling relative to other properties.

A shortage of builders and a move by many operators into bigger commercial construction work while quoting high prices for domestic work by way of discouragement has led to recently acquired doer-uppers being returned to market as they cost more to restore than their owners expected.

Estate agents in city postcodes with high numbers of executor sales or with large numbers of period properties are now reporting a real impact on the demand for older homes in need of work

Read the full details in the Irish Independent

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