`Big Six' increase share of auctions market

The "Big Six" Dublin estate agencies - Sherry FitzGerald, Lisney, Gunne, Hamilton Osborne King, Douglas Newman Good and JacksonStops McCabe - have increased their share of the Dublin auction market, holding 77 per cent of auctions this year. Of the 1,804 auctions held, 1,389 were handled by the top five agencies. Last year, the same handful of agencies handled 71 per cent of auctions.

Three of the five agencies expanded their businesses this year. Sherry FitzGerald opened three new branches - in Templeogue, Swords and Galway - giving it 13 branches. Gunne Property Consultants opened two new offices, one in Rathgar and one in Naas, bringing its total to 11, while Douglas Newman Good added branches in Skerries and Terenure to its network, which now totals nine offices around the city.

Sherry FitzGerald maintained its position as the biggest auction house in Dublin. It held 472 auctions, giving it a 26 per cent share of the market. This is marginally down on last year, when it had a 27 per cent share of the market. Lisney held 288 auctions, giving it a 16 per cent share, one percentage point down on last year. Two years ago, it had 18 per cent of the market and in 1995 its share was 21 per cent. However, Lisney is firmly in control of the top end of the residential market, having sold five of the most expensive houses (see panel). Gunne comes third in the market share chart, with 12.5 per cent, up half a percentage point on last year. It held around 227 auction sales this year. Hamilton Osborne King held 177 auction sales, giving it just under 10 per cent of the market, roughly the same share as it held last year.

Douglas Newman Good took an 8 per cent share of the auction business, holding 150 auctions. This represents a percentage point drop on last year for the agency. Jackson-Stops McCabe dropped to 4 per cent, having held a 5 per cent share in 1997. It held a total of 75 auctions in the greater Dublin area this year.