Monday 12 October 2009

September activity increased slightly

Real Estate Alliance report slightly increased buying activity around the country in September, mainly among first time Buyers.REA’s Barometer of members shows 34 offices reports that 171 sales were agreed in September. This compared to 150 in March and 164 in April, spring months which provide comparative activity periods.
Of the latest sales agreed, 114 were for second-hand properties and 57 for new properties. According to CEO Eimer O’Keeffe, second-hand homes fared better because they tended to be in better locations. “However, it all comes down to price. The vendor for a second-hand property can be keener to lower its price to move into their new home so there is a lot of room here for negotiation”, she said.The total number of enquiries recorded by the 38 Estate Agencies within the group was 4560, an average of 120 per month. This demonstrates a 15pc increase compared to March 2009.
In terms of contracts signed, REA can report a total number of 165 contracts signed for September divided between 76 second-hand homes and 89 new homes. Ms O’Keeffe added; “There seems to be a positive shift with more viewers looking to buy, all under the €250,000 bracket. There is a marked improvement in activity in South West County Dublin. “Our agents in Rathfarnham, Orchard REA reported a 20pc increase in enquiries, five sale agreed and four contracts signed in September. According to Kevin Riney of Orchard REA, “prices are down by 50% and buyers know there is good value”.

Jeanne Walshe of Cumisky REA said the Balbriggan second-hand market is quite slow with properties priced above €200,000 experiencing difficulty. She said, “Purchasers have a huge range of options at great value and schemes such as Dun Saithne Green sold quite fast. Two bed there from €128,000 and three beds from €140,000 sold out in less than two weeks, with only four mid terrace units available.