Thursday 29 November 2007

Strong Rental performance in Carrick on Shannon

Carrick on Shannon Co Leitrim and the surrounding areas are seeing residential rental values rising at a steady rate across all submarkets. The rises have been quite consistent between smaller and larger properties and between apartments and houses. One bedroom apartments can now achieve between €475.00 - €500.00, Two Bedroom Apartments with ensuites now let for €575.00 - €600.00, Three Bed houses with ensuites fetch €700.00 per month and four bedroom houses fetch €750.00 or more.
Currently the strength of demand is outstripping supply. Over the last quarter, the lettings market has been very active with record number of deals being done. This has gradually eroded the amount of potentially availability units, subsequently increasing rental values. Furthermore people intending to move within the rental sector have found it difficult to find suitable alternative accommodation or have found that asking rents on other properties are un-favorable compared to their renewal rent. Increases of approximately €15.00 - €25.00 per month are also being agreed where renewals are re-negotiated. Brady Real Estate Alliance are pro-active in seeking renewals, using this opportunity to put in place new lease documents compliant with the most recent PRTB regulations.

Real Estate Alliance Launch New Member Directory

Real Estate Alliance recently launched its Property Professional Services Directory, a compendium of all Real Estate Alliance members throughout Ireland and the wide range of services they provide for clients. The directory is essentially a one-stop shop for all those working in the property sector, offering a concise and user-friendly guide to the 45 Real Estate Alliance members around the country. The directory will be invaluable to many organisations including financial institutions, public servants and private firms as it will provide these organisations with a reliable catalogue of expert property advisors. The directory will help users reach a property expert in their area or with a particular expertise. Users can rest assured of the quality and expertise of those listed in the directory as Real Estate Alliance member firms are all members of the Irish Auctioneeers and Valuers Institute (IAVI) or The Society of Chartered Surveyors (SCS).

Landlords and landowners come up trumps in 2007

Real Estate Alliance members reported considerable growth in the rental market in 2007 around the country, particularly of three bed houses. In some of the most sought after locations of South Dublin rental increases of 15% were recorded. Maynooth and Cork County saw an average increase of 10% whilst Cork City reported increases of 12%. A three bed, second hand semi-detached in North County Dublin now generates €1200 in rent per month, whilst a similar property in Ashbourne can command €1300 a month. Further away from the capital in Sligo and Killarney, rents of up to €900 and €800 are being offered. The stabilising of property prices and increase in rental costs has led to an increase in yields compared to 2006. The best yields from rental incomes were seen in the commuter belt - West Wicklow (4.69%), Drogheda (4.5%), Lucan (4.33%) and Blessington (4.1%). “Such results clearly emphasise the strengths that exist in the current property market and highlight the fact that investment in property can still offer great returns ” said Mr. Healy Hynes, recently appointed Chairperson of Real Estate Alliance

Launch of second syndicated commercial property investement due to high demand

Investing in foreign commercial property is still attractive to Irish investors as Real Estate Alliance and Youngfields OCP launch their second syndicated commercial investment opportunity worth €4.35 million in Sindelfingen, Germany. Sindelfingen is located just outside Stuttgart and the promoters expect that the opportunity will be attractive to investors who want a turn-key geared commercial property with high rental yields from the fully let building. Youngfields OCP and Real Estate Alliance had significant success with their first joint offering in Herrenburg Stuttgart in October of this year. Finbarr Flahive MD of Youngfields was quoted as saying, “We were delighted with the response & support that this offering obtained from the Real Estate Alliance group and we are looking forward to bring more quality commercial investments to the Irish market via the Real Estate Alliance Group.

Real Estate Alliance Buyer Survey

Real Estate Alliance announces the group’s new initiative for 2008; Real Estate Alliance Buyer Survey and to identify opportunities in the marketplace in the months ahead.

The Real Estate Alliance Buyer Survey, an extensive survey of the buying public around the country, will offer Real Estate Alliance members and their clients an insight into buyers currently active in the marketplace. The survey will target a cross-section of property purchasers including first time buyers, those trading up/down and investors, revealing invaluable information about their property requirements and priorities when it comes to purchasing.

Potential buyers who complete the online survey before the end of December will be in with a chance to win a €1,000 Brown Thomas voucher. The findings of the first Real Estate Alliance Buyer Survey will be available in January and will reflect buyer’s perception of the property market following Budget ’08. It will give an insightful snapshot of buyer’s minds at the beginning of a new season and New Year.

Click here to complete the surver.

Real Estate Alliance appoints new Board of Directors

Real Estate Alliance’s AGM took place this weekend at the Radisson Hotel in Athlone. Top items on the agenda included the appointment of the Real Estate Alliance Board for 2008. Directors include some of the most professional & experienced agents in Ireland. Healy Hynes (Chairman) – Hynes Real Estate Alliance, Athlone; Paul Grimes (Vice-Chairman) – Grimes Real Estate Alliance, Ashbourne; Aine Myler – Cumisky MylerReal Estate Alliance, Balbriggan; Philip Farrell – Brophy Farrell Real Estate Alliance, Newbridge; Harry Sothern – Sothern Real Estate Alliance, Carlow; Eddie Barrett – North’s Real Estate Alliance, Tralee; Michael O’Donoghue – McKenna O’Donoghue Clarke Real Estate Alliance, Cork City; Gabriel O’Brien – O’Brien Collins Real Estate Alliance, Drogheda; Michael Boyd – Boyd’s Real Estate Alliance, Kilkenny.
Pat Riney – Orchard Real Estate Alliance, Rathfarnham.

New Real Estate Alliance Chairman

Real Estate Alliance’s AGM took place this weekend (23rd Nov 07) at the Radisson Hotel in Athlone. Top items on the agenda included the appointment of Healy Hynes, Director of Hynes Real Estate Alliance in Athlone, as Chairperson of the national property group and Paul Grimes of Grimes Real Estate Alliance as Vice-Chairperson. Mr Hynes also spoke about the period of readjustment currently in the marketplace. “House prices in 2007 have come back a bit, interest rates have risen and a lot of people have had to re-adjust to different economic realities. This situation however does present many opportunities”, he said.

“I would expect that the next six to twelve month may present us with some of the very best buying opportunity of the last number of years. This situation may only last for a little while but could potentially benefit many people, not least families looking to trade up. People who bought homes five years ago or more may have given up on the idea of getting that bigger house when the prices went completely out of reach. The good news is that the bigger house they wanted is now on sale and it's a far better spread than it was when their current house was worth more”.*

“There are also opportunities for first time buyers who may have sat on the sidelines watching as prices went up and up and up and maybe even out of their reach. Right now they're getting a second chance”, he said.

Tuesday 27 November 2007

Real Estate Alliance Launch Innovative Website

Real Estate Alliance has unveiled a new website which will provide users with a wealth of information and advice covering all sectors of the property market. Users will be able to access vital information on Commercial, Residential, New Homes, Farms, Devlopment Land, Foreign Property, Rental and Professional Services by logging on to

The new website caters for those interested in any aspect of the property market, reflecting Real Estate Alliance members varied expertise and skills. Comprehensive agency and service directories offer users a quick and easy guide to professional and experienced property experts.

The new website offers in-depth information including tips, question and answer sections, a property doctor, mortgage calculator and various other tools designed to make life easier for anyone interested in property.

"The new Real Estate Alliance website is a great facility for all those operating in the property sector, either in a professional or personal capacity. We are providing in-depth information including tips, question and answer sections, a property doctor, mortgage calculator and various other tools designed to make life easier for anyone interested in the property market" said Eimer O Keeffe, CEO of Real Estate Alliance.