Among those to confirm that they are not actively recruiting new staff for their residential divisions are Sherry FitzGerald and Douglas New Good (DNG). The Institute of Professional Auctioneers and Valuers (IPAV), which represents auctioneers, said temporary and seasonal staff were among those affected.

"New staff are not being taken on," said Fintan McNamara, chief executive of the IPAV. "People who are employed on a short-term basis are being let go."

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