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Monday, 25 November 2019

Anthony McGee appointed Chairman of REA

A Tallaght auctioneer has been appointed Chairman of national estate agency group Real Estate Alliance. Anthony McGee is Managing Director of REA McGee and was elected to the position during the Alliance’s AGM in Castleknock last week.

REA is Ireland’s leading property group of Chartered Surveyors with over 55 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.

The AGM heard that the State needs to urgently incentivise small investors to stem the tide of private landlords leaving the rental market.



Real Estate Alliance (REA) members are reporting that small private landlords are exiting the market due to a combination of excessive taxation and the legislation involved in renting a house, which they find it difficult to deal with.

The association’s AGM heard that Rent Pressure Zones are not working with rents continuing to rise and available stock spiralling downwards.

“There are very new small private investors coming into the market, and society needs this sector to provide rental accommodation,” said Mr McGee.

“When you add up taxation and stealth taxes, agency fees, management fees and insurance there is no incentive for private landlords to remain in the market.

“What we are seeing are brow-beaten landlords who are exiting the market when they reach a point of equity parity in a property.

“The regulations are heavily biased in favour of institutional investors, which is why you see build to rents happening at the moment.

“There may be a feeling that with rents at an all-time high, that small investors are making money, but when they do the numbers and look at the taxation they are paying, many are deciding that it is not worth their while staying involved.

“It is doubtful whether the Rent Pressure Zones are actually working because we are seeing rents climbing far in excess of 4% per annum due to a severe shortage of rental properties.

“We are seeing instances where adjoining properties are renting for vastly different sums, and in our experience, some landlords are now finding it difficult to pay their mortgages.

“It is economically unfair that investors whose property becomes vacant cannot charge more than a 4% increase on the previous rent – even if it was set to an historically low level.

“The market is not functioning normally because tenants are renting places for a lot longer than they originally planned for due to the difficulties in raising the deposit for a property.

“As tenants struggle to pay the rent, wages are forced up and this is eroding the competitiveness of the economy – with many workers n ow leaving Ireland for other countries as they are finding it too expensive to live here.

“We need to take a new look at the rental problem – incentivise landlords and bring in measures to get people out of rental properties and into mortgages.

“Banks should be able to take into account that someone who has been paying €2,000 a month for the past ten years should qualify for a mortgage.”

New REA board: Chair: Anthony McGee (REA McGee, Tallaght), Des O'Shea (REA O'Shea O'Toole, Waterford), Michael O'Donoghue (REA O'Donoghue & Clarke, Cork), Seamus Browne (REA Seamus Browne, Roscrea), Robert McGreal (REA McGreal Burke, Galway), John Stokes (REA Stokes & Quirke, Clonmel), Matthew Conry (REA Dawson, Tullow), Karl Tracey (REA Forkin, Bray).


Ends


Available for interview: Anthony McGee, Chairman, Real Estate Alliance, anthony@reamcgee.ie or chairman@rea.ie 087 2799332


Media enquiries: Darren Hughes, MediaConsult, Darren@mediaconsult.ie, 086 293 7037

Picture enclosed:

Sample caption:


New REA board chair Anthony McGee (REA McGee, Tallaght) at the REA AGM 2019

Thursday, 10 October 2019

Q3 House Prices County Wexford

The price of the average three-bed semi in County Wexford fell by 2.7% to €180,000 over the past three months, according to a national survey carried out by Real Estate Alliance.

Wexford prices also fell by 2.7% overall this year, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“The market is in a period of stabilisation after numerous quarters of growth,” said Robert McCormack of REA McCormack Corish in Wexford Town.

“Supply has increased, and demand is stable. We are seeing that Brexit is having a negative effect on sentiment.”

The price of the average three-bed semi-detached house in Wexford town fell this quarter by 2.7% to €180,000, and the average time on the market remained unchanged at six weeks.
“Prices remain stable in North Wexford. There is currently a limited supply of starter homes on the market, and many buyers are currently holding off buying due to Brexit. Well-presented properties are selling quickly,” said Winston Halnon of REA Halnon, Gorey.
The price for the average three-bed semi-detached house in Gorey remained unchanged this quarter at €225,000, and time on the market rose from six weeks to eight.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends


Available for interview:
Robert McCormack, REA McCormack Corish, 086 832 2207
Winston Halnon, REA Halnon, 087 237 6550

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie



Q3 House Prices County Westmeath

The price of the average three-bed semi in County Westmeath rose by 2.6% over the past three months the REA Average House Price Survey has found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“A large volume of our properties is being sold to owner occupiers this quarter,” said Donna Hynes of REA Hynes, Athlone.
“We are seeing that finance now seems to be more readily available to potential buyers.”
The price of an average three-bed semi-detached house in Westmeath rose this quarter to €195,000, and the average time on the market fell from seven weeks to six.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Donna Hynes, REA Hynes, 087 2632295
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Wicklow

The price of the average three-bed semi in County Wicklow fell by 2% over the past three months, according to a national survey carried out by Real Estate Alliance.
Wicklow prices fell overall by 2.3% to €284,200 over the past year, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“There is a noticeable decrease in viewings and prices achieved over the last quarter in Wicklow Town,” said Matt Forkin of REA Forkin, North Wicklow.
“We feel that this is due to a high volume of new homes in the market, mortgage lending, and purchasers holding off until Brexit is finalised.”
The price of the average three-bed semi-detached house in Wicklow town fell this quarter by 3.1% to €310,000, with time on the market increasing from 10 weeks to 11.
Prices for the average three-bed semi in North Wicklow and Bray fell by 2.8% this quarter to €306,000 and €340,000 respectively, with average time to reach sale agreed rising for both areas from 10 weeks to 11.
Average three-bed semis in Baltinglass were static in price this quarter and are currently on the market at €170,000, with the time taken to sell remaining at 12 weeks.
The price of the average three-bed semi in Blessington also remained unchanged this quarter at €295,000, with the average time to sale standing at six weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:

Simon Murphy, REA Murphy, Baltinglass and Blessington, 087 231 0005
Matt Forkin, REA Forkin, North Wicklow, Wicklow Town and Bray 087 7586920

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Waterford

The price of the average three-bed semi in Waterford City rose by 4.9% this year while prices in the county rose by 0.8% according to a national survey carried out by Real Estate Alliance.
Over the past three months Waterford prices remained static throughout the county and city areas, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“There is still a shortage of stock in Waterford, but demand has also cooled. This is evident as prices are static. Brexit is definitely having a negative effect,” said Des O’Shea of REA O’Shea O’Toole in Waterford City.
The average three-bed semi-detached house in Waterford city is currently priced at €215,000, and time on the market remains unchanged at eight weeks.

“Activity in the market today is quite patchy. The significant media commentary on Brexit is having a noticeable impact, both on vendors considering bringing a property to the market and on buyers considering purchasing,” said Eamonn Spratt of REA Spratt, Dungarvan.
The average price for a three-bed semi-detached house in Waterford county currently sits at €178,000, with time on the market rising this quarter from nine weeks to 10.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Eamonn Spratt, REA Spratt, 086 2531277
Des O’Shea, REA O’Shea O’Toole, 087 2599976
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Tipperary

The price of the average three-bed semi in County Tipperary rose by 5% over the past year according to a national survey carried out by Real Estate Alliance.

County Tipperary prices rose by 0.7% to €171,250 over the past three months, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“There was a little nervousness in the market in relation to fears around Brexit this quarter, with a noticeably quiet off-peak season over the summer months,” said Eoin Dillon of REA Eoin Dillon in Nenagh.
“The price of a three-bed semi is still well below the build cost and there is no supply of new homes now or in the foreseeable future. It is also cheaper to pay a mortgage than to rent a house, so purchasers still consider it a good bet to buy.”
Average Nenagh three-bed properties rose by 1.1% in price this quarter and are currently on the market at €177,000. The time taken to sell fell this quarter from six weeks to five.
“The market is static. The uncertainty surrounding Brexit is not helping with the larger rural properties and with land transactions,” said John Stokes of REA Stokes and Quirke in Clonmel.
The price of the average three-bed semi in Clonmel was unchanged this quarter and is currently at €170,000, with the time taken to reach sale agreed rising from six weeks to seven.
“The market slowed quite quickly for the first two months of this quarter, however we have seen a pickup in the past two weeks,” said Seamus Browne of REA Seamus Browne in Roscrea.
Average Roscrea three-bed properties rose in price by 1.88% this quarter and are currently on the market at €163,000. The average time taken to sell increased from eight weeks to 12.
“Properties are taking longer to dispose of due to a degree of uncertainty with Brexit. People are tending towards putting off making a decision,” said James Lee of REA John Lee in Newport.
The price of the average three-bed semi in Newport remained static this quarter at €175,000 with the average time to reach sale agreed rising from five weeks to eight.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Eoin Dillon, REA Eoin Dillon Nenagh, 087 2052716
Seamus Browne, REA Seamus Browne Roscrea, 0872499570
John Stokes, REA Stokes & Quirke Clonmel, 086 8213777
James Lee, REA John Lee Newport, 086 2351221

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Sligo

The price of the average three-bed semi in County Sligo rose by 9.5% over the past year, according to a national survey carried out by Real Estate Alliance.
County Sligo prices remained static over the past three months at €132,500, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“A property shortage keeps the market buoyant, but Brexit fears prevent any value increases,” said Roger McCarrick of REA McCarrick & Sons in Sligo.
Sligo town prices were static this quarter with three-bed semi-detached houses currently on the market at an average of €170,000, and prices in Tubbercurry also remained unchanged at €95,000.
The average time taken to sell also remained unchanged over the past three months throughout the county at six weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:
Roger McCarrick, REA McCarrick & Sons, 087 6810848
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Roscommon

The price of the average three-bed semi in County Roscommon rose by 1.8% over the past three months according to a national survey carried out by Real Estate Alliance.
County Roscommon prices rose by 5.5% overall this year to €145,000, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“What is driving the increase is the affordability factor. Semi-detached homes in Roscommon Town offer great value in a town that is overall performing very well,” said Seamus Carthy of REA Seamus Carthy in Roscommon Town.
The price of an average three-bed semi-detached house in Roscommon town rose by 3.1% this quarter to €165,000, with the average time to reach sale agreed remaining at seven weeks.
Castlerea prices were static this quarter with three-bed semi-detached houses currently on the market at an average of €125,000. The average time taken to sell decreased from 15 weeks to 10.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:
Seamus Carthy, REA Seamus Carthy 086 8035538

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Offaly

The price of the average three-bed semi in County Offaly has remained unchanged over the past year, according to a national survey carried out by Real Estate Alliance.
The average price of a three-bed semi-detached house in Offaly remained at €180,000 this quarter and the average time to reach sale agreed rose from six weeks to seven, the REA Average House Price Survey found.
The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“There is a lot of uncertainty surrounding Brexit, and the surrounding talk of prices falling is not helping the market,” said Aidan Heffernan of REA Heffernan in Tullamore.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

ENDS

Available for interview:
Aidan Heffernan, REA Heffernan, 086 224 6620
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House prices County Monaghan

The price of the average three-bed semi in County Monaghan rose by 1.1% to €178,000 in the past year, according to a national survey carried out by Real Estate Alliance.

Monaghan prices were static over the past three months, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“House prices rates remained static this quarter, primarily due to an increased level of supply,” said Dermot Conlon of REA Gunne Property in Carrickmacross.
“The uncertainty currently relating to Brexit also factors when considering the current state of the market.”
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Dermot Conlon, REA Gunne Property, Carrickmacross 087 6787098

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie



Q3 House Prices County Meath

The price of the average three-bed semi in County Meath fell by 1% over the past three months according to a national survey carried out by Real Estate Alliance.
Meath prices fell by 3.3% overall over the past 12 months to €237,500, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“We are seeing that buyers are more cautious due to the unknown circumstances of Brexit,” said Paul Grimes of REA Grimes in Ashbourne.
The price of the average three-bed semi-detached house in Ashbourne remained at €300,000 this quarter, with the average time on the market rising from four weeks to five.
“We have seen the market has slowed down for three and four-bed semis in the past quarter. I am not sure if Brexit is causing this. There is still interest in one-off properties,” said Cara Gavigan of REA T&J Gavigan in Kells.
Kells prices were static this quarter with three-bed semi-detached houses priced at an average of €180,000. The average time taken to sell in the area increased from six weeks to seven.
“Prices are back here. The market is very quiet with buyers holding off and sales taking longer to get over the line,” said Thomas Potterton of REA TE Potterton in Trim.
The price of an average three-bed semi-detached house in Trim fell by 4% this quarter to €240,000, and the average time to reach sale agreed rose from 10 weeks to 12.
“Property prices in Navan are stable and manageable at present. No major growth has been witnessed this year, however our sale levels remain strong with genuine buyers in the market,” said Michael Gavigan of REA T&J Gavigan of Navan.
The price of the average three-bed semi-detached house in Navan remained at €230,000 this quarter, with the average time on the market falling from 10 weeks to eight.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Paul Grimes, REA Grimes Ashbourne, 087 2556945
Cara Gavigan, REA T&J Gavigan Kells, 086 2454707
Michael Gavigan, REA T&J Gavigan Navan, 086 2560530
Thomas Potterton, REA TE Potterton Trim, 086 2569344
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Mayo

The price of the average three-bed semi in County Mayo has remained unchanged over the past year according to a national survey carried out by Real Estate Alliance.

Mayo prices were static at an average of €160,000, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“Prices remain stable and demand is reasonable.  Buyers interested in relocating from the UK are active in the market,” said Kevin Burke of REA McGreal Burke.
Westport prices were static this quarter and three-bed semi-detached houses are currently on the market at an average of €252,000, while the average time taken to sell increased from eight weeks to ten.
“Demand remains reasonable from owner occupiers for properties close to the town centre.  Prices remain steady, but supply is limited,” said Robert McGreal of REA McGreal Burke, Castlebar.
Prices for the average three-bed semi-detached house in Castlebar remained unchanged this quarter at €160,000, with time on the market remaining at 12 weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Kevin Burke, REA McGreal Burke, 087 679 2911
Robert McGreal, REA McGreal Burke  087 926 9190
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie


Q3 House Prices County Longford

The price of the average three-bed semi in County Longford rose by 20% in the past year according to a national survey carried out by Real Estate Alliance.
Longford prices rose by 2.6% to €120,000 in the past three months, the REA Average House Price Survey found, with the opening of Centre Parcs influencing the local market.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“Take up in the Longford area is still strong. Receiver sales are still the dominant source of supply in this market with competitive bidding in most instances,” said Joe Brady of REA Brady in Longford.
“Prices have risen significantly from a very low base. There are no new builds in Longford, and we are selling at rates that are still 40% below the cost of construction, so there is lots of headroom for price increases here.”
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:
Joe Brady, REA Brady, Longford 086 8231818
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie



Q3 House Prices County Limerick

The price of the average three-bed semi in County Limerick rose by 3.1% in the past year while Limerick City prices remain unchanged according to a national survey carried out by Real Estate Alliance.

Prices across the county remained static over the past three months, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“We are seeing similar conditions to the previous quarter,” said Michael O’Connor of REA O’Connor Murphy.

“New developments are under construction in Limerick, which may level off prices more over the coming months. The number of properties on the market currently appears lower.”

“Three-bed semis in the county are still slower on the market, however we do see an increase in buyers coming to these areas due to better value for money with the accessibility of the suburban towns also being a factor.”

The market for three-bed semi-detached houses was unchanged over the past three months, with properties in County Limerick on the market for eight weeks and averaging €165,000.

Limerick City properties are taking five weeks to sell and averaging €200,000.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Michael O’Connor, REA O’Connor Murphy, Limerick, 087 2597034

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices Co. Leitrim

The price of the average three-bed semi in County Leitrim rose by 8.3% in the last year according to a national survey carried out by Real Estate Alliance.

Leitrim prices rose by 0.8% in the past three months to €123,500, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“We are seeing no real change from this quarter other than properties taking longer to sell,” said James Spring of REA Peter Donohoe in Carrigallen.

“There has been a noticeable slowing down of sales during this quarter across all property types. Supply to the market is currently good.”

The price of an average three-bed semi-detached house in Carrigallen was static this quarter at €90,000, and the average time to reach sale agreed rose from five weeks to eight.
“Prices continue to rise, but at a slower pace than we saw in previous quarters,” said Joe Brady of REA Brady, Carrick-on-Shannon.
“We are not seeing a lot of supply in the market. There is good take up for reasonably priced family homes. We feel there is still lots of headroom because we are currently selling at rates that are below the cost of construction.”
The price of the average three-bed semi-detached house in Carrick-on-Shannon rose by 1.2% to €157,000 this quarter, with average time on the market remaining at six weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview: 
Joe Brady, REA Brady, Carrick-on-Shannon, 086 8231818
James Spring, REA Peter Donohoe, Carrigallen, 086 8186819

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie


Q3 House Prices Co. Laois


The price of the average three-bed semi in County Laois rose by 1.5% to €198,000 in the past three months according to the REA Average House Price Survey.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“Time on the market increased for the first two months of this quarter, and a pickup has taken place in the past fortnight,” said Seamus Browne of REA Seamus Browne in Portlaoise.
Time on the market for the average three-bed semi-detached house rose this quarter from eight weeks to ten. 
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:   
Seamus Browne, REA Seamus Browne, Portlaoise, 087 249 9570

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie




Q3 House Prices Co. Kilkenny

The price of the average three-bed semi in County Kilkenny rose by 0.6% to €213,500 in the past year, according to a national survey carried out by Real Estate Alliance.

County Kilkenny prices were static over the past three months, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“The summer months were very busy, with a lot of viewings and a moderate amount of sales. September has been relatively quiet with Brexit on the horizon,” said Robbie Grace of REA Grace in Callan.

The price of an average three-bed semi-detached house in Kilkenny city was static this quarter at €252,000, with the time taken to sell remaining at 14 weeks.

Prices in Callan were also unchanged with the average three-bed semi-detached property coming to market for €175,000 and taking eight weeks to sell.

The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.


ENDS
Available for interview: 
Michael Boyd, REA Boyd’s, Kilkenny, 087 2611699
Robbie Grace, REA Grace, Callan, 086 8297189

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Kildare

The price of the average three-bed semi in County Kildare rose by 3.9% to €282,000 in the last year according to a national survey carried out by Real Estate Alliance.

Prices across County Kildare remained static over the past three months, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“The market is very slow, with little to no increase since the last quarter,” said Brian Farrell of REA Newbridge and Naas. 
Prices have remained static across the county this quarter, with the average three-bed semi-detached house currently taking six weeks to sell and coming to the market for €238,000 in Newbridge, €280,000 in Naas, and €305,000 in both Maynooth and Celbridge.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview: 
Brian Farrell, REA Brophy Farrell, Newbridge and Naas, 086 2558125

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie


Q3 House Prices County Kerry

The price of the average three-bed semi in County Kerry rose by 1.1% to €220,000 over the past year according to a national survey carried out by Real Estate Alliance.

Prices in County Kerry remained static over the past three months, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“Sales are very slow and viewings are well down due to Brexit uncertainty,” said Donal Culloty of REA Coyne and Culloty in Killarney.

“There is a shortage of new houses in the area and no new developments have commenced.”

The price of an average three-bed semi in Killarney was static this quarter at €270,000, with the average time taken to sell fixed at eight weeks.

“We are also seeing that Brexit is very much affecting the market,” said Eddie Barrett of REA North*s in Tralee.

The average price for a three-bed semi-detached property in Tralee stood at €170,000 this quarter with time on the market also remaining at eight weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Donal Culloty, REA Coyne & Culloty Killarney, 087 2354790
Eddie Barrett, REA North*s Tralee, 086 2568265

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie


Q3 House Prices County Galway

The price of the average three-bed semi in Galway rose this year by 3.1% across the county to €165,000 and by 2.7% in the city to €282,500 according to a national survey carried out by Real Estate Alliance.

Prices throughout both areas remained static this quarter with properties taking an average of 10 weeks to reach sale agreed, the REA Average House Price Survey found.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“The market remains steady, but the number of viewings is down as purchasers wait to see the outcome of Brexit negotiations,” said Kevin Burke of REA McGreal Burke in Galway City.
“Supply has reduced a little, although there are a number of new developments in Galway City and its environs coming to market.”
Robert McGreal of REA McGreal Burke in Loughrea said that prices remain stable and demand is reasonable, but supply is very limited.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:   
Kevin Burke, REA McGreal Burke, 087 6792911
Robert McGreal, REA McGreal Burke 087 926 919

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie


Q3 House Price Co. Donegal

The price of the average three-bed semi in County Donegal has increased for the first time since 2017 according to a national survey carried out by Real Estate Alliance.

Prices in County Donegal rose by 4.2% to €99,000 over the past three months, the REA Average House Price Survey found.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“Although there is Brexit fear, we are still seeing good activity in the lower-priced ranges for starter homes and investor properties,” said Paul McElhinney of REA McElhinney in Milford.

“The current limited supply of houses along with an increasing demand for property have seen prices increasing across the county.

"Some of this may be driven by a small but steady rise in enquiries and sales to UK residents, not necessarily those who have roots here.

“With prices still not reaching construction costs, there are relatively no new developments to meet demand so the expectation would be a steady rise into the next quarter.”

The price of the average three-bed semi in Milford rose by 5.26% to €100,000 this quarter, with the average time taken to sell remaining at six weeks.

Bundoran prices rose by 3.16% this quarter and three-bed-semis are currently on the market at an average of €98,000, while the average time taken to sell remained at seven weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:   
Paul McElhinney, REA McElhinney Milford, 086 122 9335

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Cork

The price of the average three-bed semi in County Cork rose by 6.6% this year according to a national survey carried out by Real Estate Alliance.

Over the past three months prices in County Cork rose by 1.1% to €176,000, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“We are seeing a strong demand for three-bedroom semis in good condition. Supply to the market is currently poor,” said Sarah O’Keefe of REA O’Keeffe in Charleville.

The price of an average three-bed semi in Charleville rose by 2.67% this quarter to €154,000, and the average time to reach sale agreed remained steady at six weeks.

“Overall the market is, at best, static. We are seeing that the market, especially for coastal properties priced above €200,000, is being adversely impacted by Brexit,” said John O’Neill of REA Celtic Properties in Bantry.

“There is also a continuing lack of supply of properties such as three-bed semis for first time buyers.”

Bantry prices were static this quarter and three-bed-semis are currently on the market at an average of €198,000, with the average time taken to sell rising from ten weeks to 12.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends
Available for interview:   
John O’Neill, REA Celtic Properties, Bantry, 087 235 7288
Sarah O’Keeffe, REA O’Keeffe, Charleville, 087 9851116


Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie



Q3 House Price Cork City

The price of the average three-bed semi in Cork city rose by 0.8% to €320,000 over the past year according to a national survey carried out by Real Estate Alliance.

Prices in Cork city remained static this quarter, the REA Average House Price Survey found.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“The market continues to be sluggish with both Brexit uncertainty and the upcoming budget affecting the sales market,” said Michael O’Donoghue of REA O’Donoghue & Clarke.

“Central Bank Lending Regulations are also keeping a lid on the market due to people's inability to obtain mortgage funding. New homes are also affecting the second-hand market.”

Michael O'Connor of REA O'Connor Murphy said that new development is under way and they expect a much more active market following this. Prices currently appear to be steady.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends
Available for interview:   
Michael O’Donoghue, REA O’Donoghue Clarke, 087 252 7485
Michael O’Connor, REA O’Connor Murphy, 087 259 7034

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie


Q3 House Prices County Clare

The price of the average three-bed semi in County Clare has fallen by 2.7% in the past three months according to the REA Average House Price Survey.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“We are beginning to see the market stagnating due to uncertainties,” said Liam Browne of REA Paddy Browne in Ennis.

The average three-bed semi-detached house in Clare is currently on the market for €180,000, and time taken to sell has risen by a week this quarter to 10 weeks overall.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends
Available for interview:   
Liam Browne, REA Paddy Browne, 087 2377937

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie




Q3 House Prices Cavan

The price of the average three-bed semi in County Cavan rose by 2% to €125,000 in the past year according to a national survey carried out by Real Estate Alliance.

Cavan prices remained static over the past three months, the REA Average House Price Survey found.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“We have seen no real change in price over this quarter, but properties are taking longer to sell,” said James Spring of REA Peter Donohoe of Cavan Town and Ballyconnell.

“Though supply is good, there has been a noticeable slowing down of sales during this quarter across all property types.”

The price of a three-bed semi-detached house is currently €150,000 in Cavan Town and €100,000 in Ballyconnell, with both figures remaining unchanged this quarter.

Average time taken to sell rose throughout the county this quarter from five weeks to seven.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:   
James Spring, REA Peter Donohoe, Ballyconnell, 086 818 6819

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie



Q3 House Prices County Carlow


The price of the average three-bed semi in County Carlow rose by 2.1% to €171,000 in the past year according to a national survey carried out by Real Estate Alliance.
Carlow prices were static over the past three months, the REA Average House Price Survey found.
The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“High rents are driving first-time buyers into purchasing mode, but financing remains a problem. This quarter it is a little more difficult to sell higher end properties, with Brexit causing uncertainty amongst buyers,” said Harry Sothern of REA Sothern in Carlow Town.
The price of an average three-bed semi-detached home in Carlow Town remained static this quarter at €177,000, with time on the market also unchanged at eight weeks.
“The market is noticeably quieter this quarter and demand for more expensive homes is very weak.” said John Dawson of REA Dawson in Tullow.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:  
Harry Sothern, REA Sothern, Carlow, 087 2566764
John Dawson, REA Dawson, Tullow, 087 2535881

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie



Monday, 30 September 2019

Q3 2019 Average House Price Report

The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers, the Q3 Irish Independent REA Average House Price Index has found.
The price of a three-bed semi-detached house in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and has decreased by -3.3% compared to September 2018.

The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €428,500 – down from €443,333 a year ago.
A nationwide trend is emerging of greater numbers of small landlords putting their properties on the market according to REA agents.
“It is now taking nine weeks to reach sale agreed in Dublin city compared to six a year ago, and these increases are reflected around the country as agents report a quarter heavily influenced by Brexit indecision,” said REA spokesperson Barry McDonald.
“The Brexit effect is more pronounced, the higher up the market you go. For example, prices fell in South County Dublin by €7,000 (-1.7%) in the past three months to an average of €412,000.

“North County Dublin has fared reasonably better with drops of 0.8% in areas such as Swords, Skerries and Balbriggan with prices averaging €320,000.

“There has been a further 1% reduction in cash buyers in the Dublin market in the past three months, with mortgage-approved house hunters now making up 88% of purchasers.

“We are also seeing greater numbers of small investors leaving the rental market, which is increasing supply but will have a further upward pressure on rents in some areas.
“This, combined with new homes coming on stream, is increasing choice, but we still have a limited amount of buyers due to the Central Bank rules.”
An increase in the supply of second-hand properties on the market is highlighting the soaring cost of renovation works, according to Jim Gallagher of REA Grimes’ new Clontarf office.

"Stock levels are very high, which means that buyers have a much bigger choice than in previous years,” said Mr Gallagher.

"Properties in close to walk-in condition are achieving strong prices, however, the cost of building work has rocketed, and this is having an impact on demand and prices for properties that require renovation."

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
Overall, the average house price across the country rose by just 0.08% over the past year after a 5.8% annual rise to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.

Agents are reporting Q3 price falls in Wicklow (-2%, €284,200), Louth (-2%, €200,000) and Meath (-1%, €237,500), while prices were static in Kildare at €282,000.

Westmeath reported a 2.5% rise in Q3 prices to €195,000, with a large volume of properties being sold in Q3, mostly to owner occupiers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
However, time taken to sell has risen by 50% in a year, from six to nine weeks.
“Galway agents REA McGreal Burke report that the number of viewings is down as purchasers wait to see the outcome of Brexit negotiations, with sales taking ten weeks to complete compared to seven a year ago,” said Mr McDonald.

“Average prices are at €282,500, up 2.7% annually and supply has reduced a little, although there are a number of new developments coming to market.

“Elsewhere, Waterford City (€215,000) is up 4.9% on the year, Cork City is up 0.8% annually to €317,500 and Limerick is static over the past 12 months at €200,000.

“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724.
“However, like the major cities outside Dublin, our country towns report an annual increase in time taken to sell from six to eight weeks.”
Ireland’s cheapest three-bed semis are to be found in Donegal, where prices have risen by 4% to €99,000 in the past three months, after being static at €95,000 for the previous 18 months.

“Our agents REA McElhinney report that limited supply, combined with increasing demand in the lower price ranges, has driven increases across the county,” said Mr McDonald.

"Some of this may be driven by a small but steady rise in enquiries and sales to UK residents, not necessarily those who have roots here.

“However, the effect is reversed in other holiday homes areas such as Waterford and Cork, which are reporting higher than usual sales of homes by British residents.

“REA Celtic Properties in Bantry are reporting that Brexit has had a large effect on the market of coastal properties over €200,000, with prices static but the market slowing to an average selling time of 16 weeks.

“Longford again recorded the largest annual rise at 20%, with prices increasing from €100,000 to €120,000 in 12 months, and 2.6% since June.

“While the rate of increase has slowed, our agent REA Brady feels that it is still going to top 8% this year, albeit from a low base.

“There are no new builds in Longford and we are selling at rates that are still 40% below the cost of construction.

Ends

Available for interview: Barry McDonald, REA spokesperson, barry@reamcdonald.ie 086 387 3800
Media information: Darren Hughes, darren@mediaconsult.ie, 086 293 7037










Tuesday, 17 September 2019

REA Grimes take over Savills in Clontarf

Dublin property experts REA Grimes have taken over the former Savills residential branch in Clontarf.
The office, which will serve the settled northside suburbs of Clontarf, Raheny, Marino, Killester, Sutton and Howth gives REA Grimes a unique view on the north capital and commuter market from Skerries and Ashbourne down to their Dublin Central branch in Pembroke Street.
Savills had announced in May that they were scaling back their residential business in Dublin North with the closure of the Clontarf branch along with two others.
Clontarf resident Jim Gallagher, who has managed the branch for the previous six years, will lead the REA Grimes team at the new office.
As well as residential sales, REA Grimes are deeply involved in new home developments and land sales and, as such, has an overview on the Dublin and East Meath market from the city centre to the outer commuter areas.
“The market is very active in the Dublin Bay North area. Values haven’t gone over the top and prices are certainly steadying,” said REA Grimes Managing Director Paul Grimes.
“There is good stock available in what is a very settled suburban area packed with amenities and easy access to town. Proximity to quality schools is also a huge driver of sales.”
REA Grimes was established in 1971 at a prominent location on Ashbourne’s Main Street before expanding in 1993 with a second office in Skerries.
The company, which now employs 32 people, launched its city centre office in Pembroke Street in 2013, which handles much of its institutional work.
One of the founding companies of the Real Estate Alliance group, REA Grimes works extensively in the new homes market, and advise on all aspects of development.

Ends

Pictures enclosed:
Sample caption:
The REA Grimes team who have unveiled their new office in the former Savills residential branch in Clontarf.

Media information: Darren Hughes, MediaConsult, darren@mediaconsult.ie, 086 293 7037

Available for interview: Paul Grimes, Managing Director, REA Grimes, paul@reagrimes.ie 087 225 8678

Thursday, 29 August 2019

REA T&J GAVIGAN ARE HIRING

Residential Negotiator
REA T & J Gavigan Navan
We are seeking a full time qualified and experienced residential property negotiator to join our Team in Navan. We are looking for someone with good customer service, problem-solving, decision making, communication and organisational skills. Must also have:
Minimum 3 years experience in residential sales
PSRA Licence / PSRA Licensable
Full Driving Licence


Commercial Negotiator
REA T & J Gavigan Navan
We are seeking a full time qualified and experienced commercial negotiator to join our Team in Navan. We are looking for someone with good customer service, problem-solving, decision making, communication and organisational skills. Must also have:
Minimum 3 years experience in commercial sales & lettings
PSRA Licence / PSRA Licensable
Full Driving Licence


Front of House Administrator
REA T & J Gavigan Navan
We are seeking a full time Front of House Administrator to join our Team in Navan. We are looking for someone with good customer service, communication skills, organisational skills and capable of working on own initiative and as part of a team
Experience in office administration role
Have strong IT skills (to include MS Word, Excel etc.)
Excellent telephone Skills and customer service

Please send CV to michael@reatjgavigan.ie


Monday, 24 June 2019

Q2 2019 - Average House Price Index

Dublin City second hand property prices decreased by an average of €4,500 in the past three months, the Q2 Irish Independent REA Average House Price Index has found.
The price of a three-bed semi-detached house in Dublin city registered a second consecutive quarter fall (-1%) since the end of March, and -2.2% compared to June 2018.

The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €433,000.
“Time taken to reach sale agreed in Dublin is now eight weeks in the city and nine weeks in the county – reflecting the impact of new homes developments and the difficulties that people are experiencing in obtaining mortgage approval,” said REA spokesperson Barry McDonald.
“Wherever we have new homes on the market, they are definitely having an effect on prices in the existing market as they operate in their own price structure, with buyers prepared to pay a premium for A-rated properties.

“As a result, many of our agents in Dublin and suburban counties such as Meath have reported price falls and an increase in time taken to sell the average second-hand property and a slowdown in viewings, especially among first time buyers.

“The second-hand market remains quite price sensitive, due mainly to the Central Bank restrictions, with demand for properties priced at under €250,000.

“Areas such as South County Dublin have fallen by €6,500 (-1.6%) in three months to €419,000, while North County Dublin areas such as Swords, Skerries and Balbriggan have remained static with prices averaging €322,500.

“There has been a further 2% reduction in cash buyers in the market in the past three months, with mortgage-approved house hunters now making up 83% of purchasers, increasing the effect of the Central Bank rules on the market.

“Looming over what has been a vibrant market up to now is Brexit, which has been cited as a factor in the longer decision making capital and also holiday home locations around the country.”

The Irish Independent REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
The average semi-detached house nationally now costs €236,028, the Q2 REA Average House Price Survey has found – a rise of 0.05% on the Q1 2019 figure of €235,898.
Overall, the average house price across the country rose by 1.54% over the past year – a decrease on the 2.96% recorded to March and an indication that the market is continuing to steady after an 8% overall annual rise to June 2018.
Prices rallied slightly by 0.1% in the commuter counties in the last three months, with the average house now selling for €249,167 – an annual rise of 1.17%.
The increased availability of new homes has had a suppressing effect on prices in some commuter areas such as Kildare, North Wicklow and Meath, where all four REA agents have reported price falls in the quarter.

REA T&J Gavigan in Kells (-5.26%, €180,000) have reduced asking prices from an average of €190,000 in March in order to stimulate demand, while REA Grimes in Ashbourne report -0.8% falls from €302,500 to €300,000.

Agents in Trim have seen the average three-bed semi fall by €7,000 (-2.7%) in three months to €250,000, while it is a similar story in Navan where prices fell by -2.1% to €230,000.

“Overall, the level of activity has decreased with buyers looking at a larger range of properties, slowing the time taken to sell to 10 weeks in towns such as Navan and Trim,” said Barry McDonald.

“In Louth, we have reports of investors returning to the market in both Dundalk and Drogheda, chasing value in second-hand properties, while an increase in supply of new homes is soaking up the first-time buyer market.”
Prices in the country’s major cities outside Dublin were relatively static with agents in Galway and Limerick reporting no change due to an increase in supply and new homes developments.
Cork City showed a slight rise of 0.8% to €320,000 with agents REA O’Connor Murphy anticipating a full year increase to 3%, in spite of an increase of new homes developments in the area.
Waterford City reported a quarterly increase of 2.4%, with tightening supply rising prices to €215,000, up €5,000 from the end of March.
“The highest annual increases (5.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €8,000 in the past year and 1.08% in the past three months to €161,138.
“However, like the major cities outside Dublin, our country towns report a 25% annual increase in time taken to sell from six to eight weeks.
“REA Celtic Properties in Bantry are reporting that Brexit has had a large effect on the market of properties over €300,000. Demand for those priced under €200,000 is active, but the market has slowed to an average selling time of 14 weeks.

“Longford recorded the largest annual rise at 21.9%, with prices increasing from €96,000 to €117,000 in 12 months, and 1.7% since March.

“In Leitrim, REA Peter Donohoe has seen prices jump from €80,000 to €90,000 in the past three months due to increased demand and limited supply – an increase of 12.5% on Q1 and 21.8% on the full year.

“In Tipperary, both REA John Lee in Newport (2.9%) and REA Eoin Dillon (1.74%) in Nenagh report rises in prices to €175,000, but also increases in time to sell.”

Ends

Available for interview: Barry McDonald, REA spokesperson, barry@reamcdonald.ie 086 387 3800
Media information: Darren Hughes, darren@mediaconsult.ie, 086 293 7037










Tuesday, 16 April 2019

REA attend UK property Expo


UK buying interest in property is growing very strongly, according to Real Estate Alliance, who showcased local properties at a massive property exhibition in London last weekend.

REA agents were among those who brought local properties to the London Investor Property Show in The ExCel Exhibition Centre, which had an attendance of 7,000 investors.

“The UK market that has increased by 12% over the past year and REA were the sole Irish exhibitors at this influential expo,” said Mr. Anthony McGee, Vice-Chairman of REA.

Over 74% of estate agents have seen an increase in enquiries from the UK over the past year, a nationwide Brexit property survey carried out by the Real Estate Alliance group has found.

“UK buyers have money to Invest and are seeking opportunities outside their country.

“Ireland is their closest neighbour, we share a common language and has a property market that UK buyers can easily understand and access.

“We saw the greatest demand for investments that yielded 6.5% or better and also from buyers who are seeking Rural Homes who see Ireland as a viable and affordable option.

“We will be hosting viewings for these buyers over the coming weeks and if you have a property that might fall into those categories contact your local agent on REA.ie”

“UK buyers make up 10% of overall enquiries and 6% of sales in the Irish market, with my colleagues in REA reporting an average of 4.3 sales to UK buyers last year.

“30% of enquiries to REA agents cite Brexit as a direct reason for clients moving to Ireland while 21% are coming to live and work in Ireland for reasons unrelated to Brexit.

“Of those, 15% intend to commute to work in the UK, 27% will be working from home for UK companies and 58% will now be working in Ireland – the latter figure an increase of 12% on the previous survey.”

The survey also shows that 23% are buying for eventual or immediate retirement, 8% are investors, 8% are looking for a change in lifestyle, and 9% are purchasing holiday homes – a market that has been hit by the fall in sterling value and remains unchanged over the past six months.

The typical UK buyer is looking for a rural property (54%) with 66% of people looking for a standalone development.


Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with over 55 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.