Friday 14 December 2007

REA seem buyer's perspective

National Property Group Launch Buyer Survey – 2008 will see the results of the first ever Real Estate Alliance Buyer Survey, an exciting new offering from the 45 member-strong national property group that will reveal buyer attitude towards the property market. To be a part of the Real Estate Alliance Buyer survey and to be in with a chance to win a €1,000 Brown Thomas voucher log onto or drop into your local Real Estate Alliance office. 359 surveys have been completed within the last three weeks demonstrating a great interest in the survey already. 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.

Positive Sentiment

According to Eimer O'Keeffe, CEO of Real Estate Alliance, "there is an air of positivity since the stamp duty announcements. Vendors and buyers are happy with the change but it will take a few months for the market to recover from the battering it has taken over the past 15 months. However enquires have increased and traffic levels on the websites are up about 15% from this time last month. It has certainly given everyone a settling effect. Real Estate Alliance agents around the country feel that the impact of stamp duty changes will really come into effect in the New Year and there is an expectation that viewers will be more active in 2008.”

Thursday 6 December 2007

Cowen delivers for young families looking to trade up

National Property Group, Real Estate Alliance, has welcomed the Minister for Finance, Brian Cowen’s move today to reinvigorate the property market. Commenting on today’s budget Healy Hynes, recently appointed Chairperson of Real Estate Alliance and Director of Hynes Real Estate Alliance in Athlone, commented, “Minister Cowen’s budget should be welcomed by the property industry, home owners and those seeking to buy property as a step in the right direction. The relatively flat model of 7% stamp duty up to the value of €1 million was necessary to rid the market of the artificial values set by the previous stamp duty thresholds where buyers were being severely punished if they went over a threshold.”

“Today’s announcement will help to reinvigorate the property market after a slugish 15 months. Minister Cowen understands that what is required in the property market in the current climate is confidence. Confidence that has been slowly eroded since the debate about stamp duty changes began almost 15 months in advance of the last budget. With Budget 2008 Minister Cowen is bringing the process full circle by putting confidence back into the property market”, Mr Hynes commented.

He continued, “Real Estate Alliance members have noted that the changes to stamp duty are geared towards young families and those looking to trade up, particularly in the Dublin region where prices are traditionally higher for family homes. The greatest savings will be for those purchasing a houses valued between €350,000 (saving approximately €5,250) and €400,000 (saving approximately €10,750). As the Dublin property market has been the hardest hit in recent months Minister Cowen seems to be seeking to reinvigorate this market most.”