IPAV ap­points its first woman pres­i­dent

The Irish Times - Thursday - Property - - The Market -

In what has been a mo­men­tous week for Mná na hÉire­ann, the In­sti­tute of Pro­fes­sional Auc­tion­eers & Valuers (IPAV) has moved to make a lit­tle his­tory of its own by ap­point­ing its first woman pres­i­dent in its 50-year his­tory.

Hard to be­lieve in an in­dus­try with so many women mem­bers that one of its big­gest mem­bers’ or­gan­i­sa­tions has taken so long to hand the chain of of­fice over to a woman. And no bet­ter woman to take the reins than Kilkenny woman Ella Dun­phy of DNG Ella Dun­phy.

A pop­u­lar and well-known es­tate agent up and down the coun­try, Ms Dun­phy left an early ca­reer in bank­ing to pur­sue a prop­erty qual­i­fi­ca­tion and set up her own busi­ness in Kilkenny in 2003.

In her new role Ms Dun­phy has com­mit­ted to pre­vail on the pow­ers that be to ad­dress the cur­rent res­i­den­tial rental cri­sis, warn­ing that it will worsen un­less radical ac­tion is taken in the forth­com­ing bud­get.

“The pri­vate land­lord is taxed at a much higher rate than com­mer­cial land­lords or vul­ture funds, which is bla­tantly un­fair. If vul­ture funds and the like con­tinue to re­ceive dis­pro­por­tion­ate favour from public pol­icy we’re in dan­ger of rents be­ing set in the board­rooms of multi­na­tion­als where the bot­tom line will be profit mar­gin with lit­tle or no con­sid­er­a­tion for ten­ants.”

Ms Dun­phy refers to the re­cent ac­qui­si­tion by the Ir­ish Res­i­den­tial Prop­erty Fund of a 262-unit apart­ment scheme in Church­town, Dublin, cur­rently un­der con­struc­tion by Park De­vel­op­ments.

All of these units will now be rented, tak­ing them out of the po­ten­tial new homes stock in the area.

“Rent­ing at a rate of about ¤1,650 a month for one-bed­room apart­ments, to ¤2,000 for two-beds, and ¤2,750 for three-beds, this is more than an av­er­age mort­gage,” Ms Dun­phy says, adding that she plans to ap­peal to Govern­ment, and in par­tic­u­lar, the Min­is­ter for Fi­nance Paschal Dono­hoe, to in­tro­duce re­al­is­tic tax in­cen­tives for the pri­vate land­lord in Bud­get 2019.

PHO­TO­GRAPH: PAUL SHER­WOOD

Ella Dun­phy, in­com­ing Pres­i­dent of IPAV, re­ceives her chain of of­fice from out­go­ing pres­i­dent Brian Dempsey.

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