Twitter

Tuesday 25 November 2014

Property market facing more certain 2015

The property market is facing a more certain 2015 following a period of uneven growth nationwide over the past 18 months, according to national estate agency group Real Estate Alliance.

Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with almost 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.

“We are definitely seeing the market taking its breath in the more-heated sectors, such as Dublin, where we have seen a softening of demand over the past six weeks,” said incoming REA Chairman Seamus Carthy of REA Seamus Carthy, Castlerea & Roscommon.

“In Dublin you are still going to have a lack of supply and no great increase in the new homes coming to market.

“However, the panic buying has gone out of a market that had seen an average house appreciate by almost 31% over the past 18 months.

“Our REA Average House Price surveys throughout 2014 identified the emergence of a three-tier market.

“Demand and prices in tier two, which is the commuter belt and major cities such as Cork and Galway, are beginning to take on a more predictable look after rapid growth in 2014.

“There will still be a demand nationally in 2015 for 20-25,000 new homes which will not be satisfied due to a lack of availability.

“Market forces will dictate and that you will see increases in most sectors, albeit at a more measured level than experienced over the previous 15 months.

“The third tier, which are the remaining towns and surrounding areas, have shown an increase in recent months, albeit at a sustainable level, and for the first time each county has shown an increase.

“Notably, in tiers two and three, we are seeing a steady continuation of the recent reductions in time taken to sell, and an increase in mortgage-backed buyers.”

CEO Philip Farrell has hailed the past year as an exciting one for the group and the property market.

“We have seen REA increase their membership to 52 branches nationwide and the group’s profile rise thanks to our members giving an informed an qualified view of the market through our average house price surveys.

“We hope to be announcing a number of new offices in the new future and have expanded out head office staff by three.”


REA Board 2015: Chairman: Seamus Carthy (REA Seamus Carthy, Castlerea & Roscommon Town), Vice Chair: Michael O’Connor (REA O’Connor Murphy, Limerick), Barry McDonald (REA McDonald, Lucan), Harry Sothern (REA Sothern, Carlow), Michael Gunne (REA Gunne Property, Dundalk), Eamonn Spratt (REA Spratt, Dungarvan), Joe Brady (REA Brady, Carrick-on-Shannon), Eoin Dillon (REA Dillon, Nenagh), Liam Browne (REA Paddy Browne, Ennis).

REA O'Keeffe of Charleville joins REA

Ireland’s fastest-growing network, Real Estate Alliance, have announced the addition of REA O’Keeffe in Charleville to its national roster.

Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with over 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.



The innovative Group this week unveiled its new member in Charleville, adding to its growing national footprint.

“We are delighted to welcome Sarah O’Keeffe of REA O’Keeffe on board. Her firm represents the type of firm which Real Estate Alliance is proud to be associated with – experienced, professional and qualified,” said REA CEO Philip Farrell.

“The combination of business being distributed to REA agents from central office, together with the requirement that all agents must be accredited Chartered Surveyors is proving a major attraction to new members.

“Members enjoy the fact that Real Estate Alliance is different from other property groups and they can tap-in to the wealth of knowledge within the group which is particularly useful in valuation work.

“The recent addition of our new Property Tracker system that interfaces with the clients to give real-time reports to banks and receivers, allows agent and client to deal with sales and management in a much more efficient manner.”

Sarah O’Keeffe of REA O’Keeffe in Charleville has joined the Alliance due to the Group’s increase presence on the national stage and expert take on the property market.

“We feel that the progressive approach which REA are currently showing in the market place is a vindication of their belief in the positive future which is ahead of us, both in terms of our economy and the property sector,” she said.

“REA are visible, innovative, effective, and their nationwide view on the market through their continued surveying is one that provides a realistic and trustworthy message to both buyers and sellers.”

Ends


Friday 21 November 2014

Auction in Limerick on the 20th of November a huge success

REA O'Connor Murphy held an Auction on the 20th of November at 12pm in the Strand Hotel. Contact REA O'Connor on 061279300. Four properties went under the hammer with all Lots selling in excess of the reserves. Main Development Land at Rosmor made €590,000 with a guide at €225,000 to €275,000.
Retail unit at Woolworth Lane, Limerick
Building with potential at Myles Street, Limerick
Industrial Unit at 4B Eastway Business Park, Ballysimon Road, Limerick
DEVELOPMENT LANDS at Rosmor, Old Cork Road, Limerick. More Details

Thursday 20 November 2014

Seamus Carthy appointed a new Chairman of REA

At the Real Estate Alliance AGM last week we announced the appointment of REA’s new Chairman, Seamus Carthy of REA Seamus Carthy in Castlerea & Roscommon Town. He will be supported by the vice Chairman Michael O'Connor of REA O'Connor Murphy and the board including agents from the various firms in REA. (L-R Michael Gunne, Liam Browne, Barry McDonald, Michael O'Connor, Seamus Carthy, Harry Sothern, Joe Brady, Eoin Dillon and Eamonn Spratt). A great team!




Thursday 13 November 2014

Auction of Former Development Lands in Nenagh, Co. Tipperary on 4th December 2014 at 3pm

Auction to be held of Former Development Lands (8.09 ha) in Nenagh, Co. Tipperary on 4th December 2014 at 3pm.
REA Eoin Dillon are holding an Auction on Thursday, 4th December 2014 at 3pm in the Ormond Hotel, Nenagh, Co. Tipperary. The subject lands are an impressive parcel of former development lands comprising of 8.09 ha (20 acres) available in one lot with long term development potential (subject to Planning Permission).
AMV €200,000 inc VAT.
Contact REA Eoin Dillon on 067-33468 or info@readillon.ie
More Details

Friday 7 November 2014

Women have the final call when it comes to buying Ireland's homes

When it comes to a couple's ultimate decision about whether or not to buy a home, who really makes the final call - the man or the woman?
In the UK, the last survey on the subject was conducted by the FindaProperty portal, which determined that women make that vital decision - by a majority of almost two-thirds (63pc) to one-third (37pc) to the men.
The data would not surprise Irish estate agents who have always maintained women are in the driving seat when it comes to the final say on buying a home.
But to what extent?
Independent Property commissioned theReal Estate Alliance - a network of established estate agency businesses with bases in all 26 counties - to survey their members with the following questions:
* In the case of couples buying homes, which partner's opinions carry the most weight in achieving the final decision to purchase?
*For women, what are the most important factors in choosing a home?
*What are the deal breakers for women?
In the latter case we threw in some examples (location, price, space) and we included one stereotypical red herring - "too dirty" - to make things interesting.
* We then asked their members if they had any general observations to make about men and women and how they behaved in the house buying process.
The results, compiled from the views of the 35 estate agency firms around the country who responded, very conclusively show that Irish women are even more dominant as final decision makers in the house buying process than their UK counterparts.
As compared with 63pc in the UK, amongst Irish home-buying couples, the REA firms estimated a phenomenal 97pc of final decision making was made by the woman - compared with a minuscule 3pc for men.
And despite the stereotype women were not as focused on the cost of property as their men, the resulting REA survey demonstrates clearly the cost of the property and the mortgage repayments ahead are firmly on the woman's agenda - along with her children's education.
Price and schools were tied (41pc) as the two items most commonly included in the top three most important factors REA agents said were vital for the female half of the buying couples they dealt with.
Next up came decor - with 37pc citing it came in women's top three. Next came the quality and size of the kitchen (19pc had it in their top three women's priorities).
The next most common top-three priority was the garden at 16pc and finally, and perhaps surprisingly, came the home's overall layout at just 6pc.
But the adage location, location, location has not been forgotten - it ranks as the biggest deal-breaker for women according to the 35 REA firms who responded - on a "deal-breaker factor" of 1 to 5, with five being most vital, location ranked 3.3 just ahead of "not enough space" at 2.9, price as a deal-breaker came third at 2.94 but, perhaps surprisingly, "too dirty" was afforded a deal-breaker factor of 2.53 out of five.
Closer inspection shows that only 9pc of agents surveyed said that dirt was "not important" to women buyers. In fact 47pc said dirt was "important" with 26pc stressing this issue as "very important" and 18pc rating this factor as "essential". This statistic suggests almost one in five women might not buy a house because it is dirty.
Louth-based estate agent Darina Collins sees no surprises in the survey results after more than 20 years selling houses. Collins is the joint owner of the REA Collins O'Brien estate agency in Drogheda along with partner Gabriel O'Brien. Their clients are a mix of city commuters and town and rural based clients. In her view the survey largely reflects her experiences.
"We have an in joke in estate agency that if she hates it and he likes it there's no chance of a sale, but if he hates it and she likes it there's always a chance.
"By and large, even in a modern society where women work, they will tend to have more invested in a home thanks to their children. So it is natural that women tend to make the most important of decisions.
"What we tend to see is she does all the running in the home hunting, she makes first contact and at a viewing, she leads the questions while he goes around banging on walls and turning on the taps.
"While the men are looking under sinks, she is looking in the wardrobes to see if they are deep enough. And even if he's the one who leads the viewing and asks all the questions - men normally ask about practical issues like BER ratings and structural stuff like whether the house is timber frame - then she's still likely to be the one who will make that decision.
"What I always see is that women buy from the heart whereas men tend to be caught between stools - between the practical and the heart. In complete contrast, if either are buying an investment property then both will behave totally differently, they will be cold, practical and calculating."
So what about the surprisingly high ranking of dirt as a deal-breaker - isn't that reinforcing a sexist cliché?
"Well, undeniably there's the 'yeuch' factor but I also believe this is based on a solid foundation - on the idea that if this home has not been properly cleaned for a viewing then it's likely it hasn't been taken care of in general. Men think that as well."
So for those selling their homes today, what can they learn from this survey - other than that it is safe to assume that understanding their core market must mean appealing to women?
"If your house has a structural problem, then the buyer's surveyor is going to find this anyway, so there's no point in trying to hide it. However, it strongly suggests that when it comes to presentation, you must liven up the grout in your bathroom and ensure it is clean, you must make sure the house is presented as best you can.
"It's a cliche to suggest presenting the house well is important, but it's really surprising how many don't. The smallest things can put people off. If you forget to put a vacuum cleaner away for example and it's out in the open, then people will assume that there is no storage space to put it in - otherwise it would be in there.
"I recently sold an impeccably turned out house - the presentation added 17pc to the asking price. Had it been badly turned out, as many houses are, then we would have struggled to achieve the asking. It's as big a difference as that."

What the agents said: Men vs Women in house buying

* "Women get more emotionally attached to properties."
* "Women buy with their heart, men buy with their head."
* "The women are dominant in making the decisions, the men carry these out."
* "The woman's decision is final."
* "Men are easier pleased."
*"If she wants it, she gets it!"
* "Females are more practical."
* "Men buy for the present, women buy for the future."
* "The first point of contact is generally made by women (especially by phone) - 80pc of first viewings are arranged by women."

Monday 3 November 2014

Borrisokane Lands Sell at Auction - REA Dillon

On the 30th October 2014, REA Eoin Dillon held a public auction at the Ormond Hotel, Nenagh, Co Tipperary in relation to 5.56 hectares (13.72 acres) of former development lands at Bushypark, Borrisokane, Co Tipperary.  The lands once had planning permission for 41 houses and provision for a further 28 houses.  They were also subject to a right of way and way-leave.  The advised minimum value was €150,000.

The auctioneer opened the auction seeking bids of €150,000 and dropped in €10,000’s before the first bidder a local farmer and contractor got the bidding off.  A local solicitor then immediately bid €125,000 and one more bid of €5,000 being received to bring the bidding to €130,000, from there on the bidding was fast and a two horse race ensued with25 bids of €2,500 being made before the auctioneer broke to discuss the matter with the vendors at €192,500 and to give the bidders a chance to catch their breath.   On his return the auctioneer immediately announced that the property was on the market and a bid of €200,000 was received from the farmer/contractor.  The farmer and solicitor quickly exchanged bids of €2,500 before the hammer fell to the farmer/contractor at €215,000.  The sale price represented a price of €15,670 per acre (€38,722 per hectare).  Speaking after the Auction the auctioneer said that the sale was an important step in drawing a line in the sand and restoring confidence in the market that the development land market had bottomed out and there was a market for good quality well located lands.   The same agent also agreed the sale of 7.6 acres of lands at Coolaholloga, Nenagh by Private treaty on the same day for what is believed to be close to €8,600 per acre.  Rea Dillon will shortly be auctioning over 20 acres of former development lands at Tyone Nenagh.  The lands once had the benefit of planning permission for over 200 houses and will be offered for sale by auction on the 6th of December with a guide price of €200,000 inc VAT. 

Monday 20 October 2014

Average three-bed semi rises by 17.59% in 2014

The price of an average three-bed semi in Irish towns and cities rose by 17.59% in the first nine months of the year, according to a national survey carried out by Real Estate Alliance.
The Real Estate Alliance Average house index concentrates on Ireland's typical stock home, the three-bed semi, giving a picture of the property market in towns and cities countrywide.
Price increases in the commuter areas around Dublin are continuing to outstrip those in the capital as first-time buyers chase bargains priced at almost half of those in the metropolitan area.
Three-bed semis have seen a rise of 21.59% across the country over the past 12 months, while prices in Dublin city rose by 24.24% over the same period of time.
The average price of a three-bed semi is now 179,981 nationally including Dublin, an increase of 26,925 (17.59%) on the Dec 13 figure of 153,056.
And the average house has risen by 9,907 since the end of June, rising 5.83% in value across the country.
In Dublin city, the average three-bed semi has risen by 27,500 over the past three months to 375,833, an increase of 20.59% on the December figure of 311,667 and a 7.89% rise over the June figure of 348,333.
“Prices are continuing to rise at a pace in Dublin, but our agents are reporting that the panic buying seems have gone out of the market, with less people at viewings and houses taking a week longer on average to sell,” said REA CEO Philip Farrell.
“The three-tier market that REA surveys have identified is still continuing, with the commuter areas out side Dublin, and larger urban areas such as Galway and Cork growing at twice the rate in the first nine months (21.88%) than the rest of the country at 11.47%.”
In Dublin, the market shows no signs of dropping off, with prices increasing by almost 8% in the last three months, after rising by 12% in the first half of the year.
The average three-bed started off the year at 311,667 and now costs 375,833.
Both South Dublin and Lucan recorded rises of 15.38% over the past three months alone, with houses in the west Dublin town rising by 40,000 to 300,000 in 12 weeks.
REA agents in Lucan are reporting that the market appears to go through a frantic two or three weeks, before slowing down and spiking again.
Although the rate of increase has slowed after a meteoric rise in Tallaght, the price of a three-bed semi in the Dublin 24 suburb has increased by 37.5% since the start of the year, and 10% over the past three months.
“Increasing rents and a shortage of supply are seen as the main drivers in increasing prices in this area,” said Philip Farrell.
The average property is now taking just seven weeks to sell nationwide, on average over 41% quicker than six months ago.
However, Dublin has seen an increase in time to sell, with houses now taking five weeks on average to close, up from four in June.
“Our agents are reporting that there are more private houses now for sale, which is giving the discerning purchaser a better choice and as a result there is not the same amount of bidders as there were in the first six months of the year,” said Philip Farrell.
There has been a sharp rise in the amount of private homes for sale nationally, with the percentage of distressed properties on the market dropping for the first time in the life of the survey.
Just 37% of properties on the market are now distressed, down from a yearly high of 45% in June.
There is further evidence that the banks are financing house buyers to a greater extent with the amount of cash transactions dropping from an average of 66% in December 13 to 50% in September 2014.
“We have seen a marked increase in mortgage transactions in Dublin to 56% of all sales, with 62% of sales in the commuter areas being financed by the banks,” said Philip Farrell.
“We are also seeing investors being influenced by the end of December deadline for obtaining capital gains tax relief over the next seven years.
“We also feel that the recent proposals on mortgage finance announced by the Central Bank could have a direct impact on the market from January 2015.”
Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with over 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.
Available for interview:
Philip Farrell, CEO Real Estate Alliance
086 250 3515 / philip@realestatealliance.ie

Tuesday 14 October 2014

REA Statement following 2014 Budget


 The Minister For Finance missed the chance to influence the supply and continuing rising cost of new homes in the Budget, according to Chartered Surveyors group Real Estate Alliance.
Landowners now have a greater incentive to offload potential development land as a result of today’s Budget, but more action was needed to increase the supply of new homes to market.
Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with over 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.
“The dropping of the 80% windfall tax on development land may provide some incentive for landowners to offload potential sites as the tax will now fall into line with the standard CGT rate of 33%,” said REA Chief Executive Philip Farrell.
“We also welcome the Minister for Finance’s intention to commence a consultation process on addressing the area of landowners holding on to suitable development lands in anticipation of a large increase in values over the coming years.
“However, we feel that it is crucial that this process is initiated immediately as the fundamental issue in the marketplace is the lack of supply of homes.
“The significant recent increases in property values are not credit driven and whilst the proposed introduction of new borrowing restriction for purchasers for 2015 may stem the demand somewhat, it still does not address the primary issue of supply of new homes.
“We also feel that the Minister missed an ideal opportunity similar to that introduced in the hospitality sector in recent years to temporarily reduce the VAT payable on new homes which currently stands at 13.5% in an attempt to increase the supply of new housing.
“The proposed new lending restrictions on purchasers will create extra pressure on rental values nationally in 2015.
“REA welcome the extension of the Home Improvement Scheme to provide relief for investor/landlords.
“This can only lead to a higher standard of rental housing stock than is currently being provided in the marketplace.”
Available for interview:
Philip Farrell, CEO Real Estate Alliance 
086 250 3515 / philip@realestatealliance.ie

Media information:
Darren Hughes, MediaConsult 086 2937037 / darren@mediaconsult.ie




Property related matters in the Budget today.

The following has been announced in the Budget in relation to property

1. The home renovation scheme has been extended to include rental properties, therefore landlords can benefit

2. As expected the CGT exemption for 7 years has been abolished and expires at the end of the year.

3. The 80% windfall tax has been abolished and gains on the sale of development lands will be taxed at the standard 33%.

4. First time buyers will be able claim back full relief on the dirt tax payed on their savings.

5. Indicated that a consultation process will take place to address the issue where landowners are holding on to development land in the expectation of an increase in values.

6. Relief introduced for the new water rates reducing annual charge by 20%

7. Other announcements
a) 41% tax rate reduced to 40%
b) 8% USC charge over €70,000 income
c) No change in petrol or alcohol
d) 40 cent on cigarettes
e) No change in VRT

Monday 22 September 2014

Pre Match breakfast briefing to take place in Nenagh next Thursday at 8am.

Come along for a lively pre match breakfast at the Abbey Court Hotel in Nenagh on Thursday the 25th of September and get your chance to dine with a host of former Tipperary GAA stars and share their thoughts and expectations before the big game.  There will be a questions and answers forum chaired by Damian Lawlor.  All proceeds go directly to the North Tipperary branch of the Alzheimer’s Society and will be spent here in North Tipperary helping families dealing with Alzheimer’s. 
For tickets please call into REA Eoin Dillon’s office 42 Kenyon Street or the Alzhimer’s Society Offices at Ormond Court, Summerhill.  Tickets cost €25 per person. 

There is also a limited opportunity for 20 local businesses to sponsor the event and be allowed to have a stand or promotional material at the event.  The sponsorship is €100 and that includes two breakfast tickets.  If you are interested in sponsoring please email edillon@readillon.ie or call 087-2052716.

Value of Homes in Captial almost same as rest of country combined

Dublin homes are now worth almost the same as all of those in the rest of the country together. Despite accounting for little more than a quarter of private households overall at 28pc, residental property is now worth €156bn, almost half the total €326bn of all Irish homes combined. The Dublin figure of €155.9bn compares with €170.2bn for all homes elsewhere in Ireland, according to REA.
http://www.independent.ie/irish-news/value-of-homes-in-capital-almost-same-as-rest-of-country-combined-30604753.html

Monday 18 August 2014

Maynooth Land Sells for €2.62m at Auction

Land with development potential in Maynooth has sold at auction for €2.62m. The auction, which was handled by Savills and REA Coonan, took place at the Glenroyal Hotel in Maynooth, and attracted a significant number of interested parties.
The 2.23 ha (5 acres) site fronts onto the Dunboyne Road and is located within walking distance of Maynooth Town Centre. The site overlooks the Lyreen River. A recently completed feasibility study by the sellers highlighted the suitability of the site for an attractive low density development of up to 50 houses.
The land is zoned as ‘New Residential’ under the Maynooth Local Area Plan 2013-2019. The zoning objective states that housing is the primary use within this objective. The zoning also allows for uses including recreation, education, crèche/ playschool, clinic / surgery uses and sheltered housing.
The joint agents, Loman Dempsey of Savills, and Will Coonan of REA Coonan were of the opinion that this very well located site beside the town was always going to attract strong interest and this was reflected in the sale price achieved. “The development land market is very buoyant at the moment. There is increased demand for new homes but a significant shortage of product coming to the market. To meet this demand, builders and developers are now beginning to seek good quality sites with housing potential in the right locations.”  comments Will Coonan of the joint agents.
-Ends-


Good Week for REA Sothern

Even in recessionary times, land sales are still capable of commanding interest. This was certainly the case when REA Sothern sold first 9 and then 16 acres at Maganey at the auction in The Seven Oaks Hotel  last Thursday. With approximately 40 farmers in attendance, bidding was brisk on the 9 acres, with the reserve of €70,000 soon reached.

The property was formally placed on the market at €102,000 and four bidders chased the property until it was knocked down at €129,000 – almost €14,500 per acre.

The 16 acres proved sluggish with only two bidders showing real interest. This was primarily due the fact that the land needed reclamation and had small road frontage. None the less, Harry Sothern coaxed the bidders to over €100,000, at which point it was placed on the market eventually selling for €112,000, (€7,000 per acre).

The final lot on the day was a small two bedroomed cottage on circa 0.6 acres which was withdrawn at €45,000. The property is now for sale by private treaty with an asking price of €58,500. A new bidder has emerged, and a sale is expected to be completed this week.

14 The Weirs
This three bed apartment has been on the market for some time and has now been sold for €38,500.

2 Fruithill Court
On the market for just three weeks with REA Sothern, number 2 Fruithill was one of the finest houses on their books. This was appreciated by one of several viewers who viewed on Friday, made an initial offer, and a deal was concluded at a satisfactory level for the vendor on Friday evening. REA Sothern had been seeking €205,000.

81 Feltham Hall
Just a week on the market, this stunning circa 2,000 sq. ft. 4 bed has attracted immediate interest and is already under offer. Described by REA Sothern as in impeccable condition, the house features 2 bedrooms en-suite, 2 fine reception rooms, bespoke cherry kitchen with top quality appliances and marble counter top, quality hard wood flooring and tiling downstairs, carpeted upstairs, fully tiled bathroom and shower. In addition, there is a double garage to the side of this end site. Sothern’s seek offers circa €248,500.

3 Riverwood, Timolin
This large 4 bed bungalow had been on offer at €245,000 between joint agents, Jordon Auctioneers & REA Sothern.


Following bidding, sale was concluded last week in excess of the reserve price.

Wednesday 30 July 2014

REA Sothern Auction Seven Oaks Hotel, Carlow 7th August, 2014 at 3:30 p.m.

PLEASE NOTE AUCTION TIME CHANGE FROM 12:00 PM TO 3:30 PM

Lot 1: C. 8.9 acres (3.6 HA) at Castleroe West, Maganey, Co. Kildare AMV:€70,000
Lot 2: C. 16.4 acres (6.26 HA) at Crooket, Maganey, Co. Kildare AMV:€115,000
Lot 3: Castleroe East, Maganey, Co. Kildare AMV:€65,000

More Details

THREE LOTS FOR SALE BY AUCTION WITH REA SOTHERN


For Sale by Public Auction, Seven Oaks Hotel, Carlow
7th August, 2014 at 3:30 p.m.
Solicitor: Cyril Osborne, RA Osborne & Son, Athy, Co. Kildare

Lot 1:

C. 8.9 acres (3.6 HA) at Castleroe West, Maganey, Co. Kildare
In one division, these lands offer an opportunity to adjoining/nearby farmers to add to their existing holding.
The lands, which are slightly elevated offer superb views of the Killeshin hills to the west, perhaps allowing a qualifying applicant to construct a dwelling, (subject to PP).  The lands are approx. midway between Carlow and Athy, near the Three Counties pub and Levitstown.
AMV: €70,000

Lot 2
C. 16.4 acres (6.26 HA) at Crooket, Maganey, Co. Kildare
Set out in one division, these lands have frontage to two roads.  Though in need of some reclamation, neighbouring lands show what can be done. Suit neighbouring farmers, or those in the vicinity looking for an out-farm.
AMV: €115,000

Lot 3
Castleroe East, Maganey, Co. Kildare
2 bed cottage on c. 0.6 acre (0.25 HA) site in need of complete renovation.  Situated in a particularly scenic area with Kilkea, Athy and Castledermot to the north and Carlow town to the south.  Though in need of renovation, this fact is reflected in a low reserve.  This fine site offers potential, and due to its elevation has lovely views of the surrounding countryside.
AMV: €65,000


Thursday 24 July 2014

Successful Auction at Ard Gaoithe, Clonmel - c.75 acres for €1,565,000

c. 75 Acres at Ard gaoithe Clonmel, Tipperary sold at auction by REA stokes & Quirke today for €1,565,000
http://www.realestatealliance.ie/commercial/brochure/2855816

Monday 21 July 2014

REA members hold auctions for clients in 50 locations nationwide

Real Estate Alliance members can sell your property by private treaty or by auction. Talk to your local agent about the auction process as this may be a more suitable vehicle to sell your property or land.

South East Regional Auctions in Friday 18th July Results





REA’s South East Regional Auctions in Friday 18th July
Venue “Dooley’s Hotel, Waterford City on Friday 

7 properties were withdrawn by client the morning of the event. 8 Properties went under the hammer. 5 sold at Auction. 

Lot No.Property
Status
Price

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15


Upper Main Street, Graiguenamanagh, Co. Kilkenny.
150 The Laurels, Tullow Rd, Carlow.
Upper Kilree Street, Bagenalstown, Co. Carlow.
Murphys, Castlehill, Carlow.
U2, Site 7, Askea Bus Park, O’Brien Rd, Co. Carlow.
U3, Site 7, Askea Bus Park, O’Brien Rd, Co. Carlow.
2, St.Catherines Hall Waterford.
49/49A, Spring Garden Alley, Waterford.
Hobble Court, Leamy Street, Waterford.
Clogheen Service Centre & Oil Depot
Killenaule, Co. Tipperary
Main Street, Coolgreany
Spa Bar, Johnstown
Main St., Rathdowney,
The Whiskey Shop, Crettyard,Co Laois

W/D
W/D
SOLD
W/D
W/D
W/D
SOLD
SOLD
W/D
W/D
W/D
SOLD
W/D
W/D
SOLD


€50,000



€55,000
€52,000



€56,000


€30,000

REA South East Auction Disrupted by Land League.

Last Friday’s REA’s Regional Auction held in Dooley’s Hotel in Waterford on the 18th of July 2014
took an unexpected twist when members of the land league objected to the properties being offered for sale. The auctioneer appointed to sell the lots, Harry Sothern, engaged with the protesters and asked them which specific properties had they a problem being offered for sale. Solicitor, John Foley, Bagenalstown, challenged the protesters, as he was acting for vendors of a pub in Graiguenamanagh, which was not a repossessed property.

After some exchanges, the protesters agreed that they would not object to any property being offered for auction, unless a former owner objected from the floor of that property being offered for sale.

Mr. Sothern agreed to commence the auction and ask the floor first if there were any objections to the property being sold.

He proceeded to offer each lot without any objection being raised from the floor, and the auction proceeded smoothly from there on. Mr. Sothern indicated that the REA group are very careful about the properties that they take in for sale, and avoid contentious repossessions. He went on to say that many former owners of repossessed properties are keen to have finality which requires repossessed property to be sold.  Many of the repossessed properties are buy to lets and part of a portfolio held by individuals that can no longer afford to service the repayments, or in many cases, even interest only.


In order for the market to return to something approaching normality, all of these properties must be sold. Harry Sothern is MD of REA Sothern, 37 Dublin Street, Carlow.

Friday 27 June 2014

REA June 2014 Property Survey



REA June 2014 Property Survey


Price increases for houses in the commuter counties around Dublin have outstripped those in the capital for the first six months of the year, according to a national survey carried out by Real Estate Alliance.

The price of an average three-bed semi in Irish towns and cities has risen by 11.12% to €170,074 since the end of December, the Real Estate Alliance Average House Index has found.

The survey of 50 REA members nationwide also reported a 20% increase in mortgage-financed sales and a 32% reduction in selling time for properties since the start of the year.

The REA index concentrates on Ireland's typical stock home, the three-bed semi, giving a picture of the property market in towns and cities countrywide.

In Dublin city, the average three-bed semi is now costing €348,333, an increase of 11.76% on the December figure of €311,667.

However, in the commuter counties and smaller cities like Cork and Galway, three-bedroomed semis have increased by 15.54% to an average price of €182,353 in the first six months of the year.

“The shortage of supply of starter homes in the commuter belt and large urban areas such as Cork and Galway is every bit as challenging as the situation in Dublin,” said Real Estate Alliance CEO Philip Farrell.

“In many cases we are now seeing increases in value which exceed that of Dublin.

“There is further evidence of a three-tier market in existence, with urban areas in the rest of the country seeing half of the growth of the commuter belt with values at an average of €106,345, up 6.57% in the first six months.”

Three-bed semis have seen a rise of 19.69% across the country over the past year, while prices in Dublin city rose by 21.16%.

The average price of a three-bed semi is now €170,074 nationally including Dublin, an increase of 17,018 (11.12%) on the end-Dec 13 figure of €153,056.

The average three-bed semi in Dublin now costs €348,333 – a jump of €36,666 since the start of the year.

Three beds in Tallaght and the Dublin 24 area have jumped by 25% from €160,000 in December to €200,000 at present.

"Tallaght, in particular, is reflecting a huge shortage of property on the market, particularly family homes,” said Philip Farrell.

“Rents are also increasing making it cheaper in many cases to buy than rent.

“Prices are also being influenced by the fact that there was very little property moving in the area a year ago.”

The average property is now taking just nine weeks to sell nationwide, on average nearly 32% quicker than six months ago, while in Dublin, the time taken to sell has halved from eight weeks at the turn of the year to just four now.

While there has been a sharp annual rise in the amount of distressed properties being sold on the market (up 32.45% nationally), most of that growth was in the back end of last year, and the rate of increase this year has slowed to just 7.56%, showing a return of the private seller in greater numbers.

There is hard evidence that the banks are financing house buyers to a greater extent with the amount of cash transactions dropping from an average of 66% in Dec 13 to 53% in June 2014.

“In Dublin, mortgage transactions now make up 49% of all sales, and we are seeing hard evidence that the banks are lending in increasing numbers,” said Philip Farrell.

“Nowhere is the increase in bank lending more keenly felt than in the commuter belt, Cork and Galway, with 55% of all sales now being financed by mortgages.

VIew More Details



Sunday 22 June 2014

REA Stokes & Quirke join Ireland’s fastest-growing property network

REA Stokes & Quirke of Clonmel are the latest firm to join Ireland’s fastest-growing national property network, Real Estate Alliance.
Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with over 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.
John Stokes of REA Stokes & Quirke believes the move will bring real benefits to property buyers and sellers in the Clonmel area.
“We are now able to offer customers an even better service as we combine the benefits of our local knowledge and expertise with the extra exposure and experience that this nationwide property group brings,” said John .
Welcoming the company to the alliance, REA Chief Executive Philip Farrell praised REA Stokes & Quirke’s experience and trusted brand.
“We are delighted to have REA Stokes & Quirke on board, they represent the type of experienced, professional and qualified firm which Real Estate Alliance is proud to be associated with,” he said.
“Our continued emphasis on quality before quantity is a critical to the success of Real Estate Alliance, as all REA firms are members of the Society of Chartered Surveyors Ireland (SCSI).”
John Stokes believes the firm’s business will be further strengthened as a result of joining REA.
“Our membership of Real Estate Alliance will enable us to share market knowledge with the leading property firms in the country, seize new opportunities for our clients, speed up the sales process and have better access to corporate decision makers.”
Established in 1896 REA Stokes & Quirke is a long established family firm of auctioneers, chartered surveyors and estate agents based in Clonmel County Tipperary. REA Stokes & Quirke is based at Sarsfield Street, Clonmel and specialises in residential, commercial & Agricultural, lettings and property management.  John Stokes is a member of the Royal Institute of Chartered Surveyors and the Society of Chartered Surveyors of Ireland.
John maintains REA’s progressive and aggressive approach in the marketplace is a vindication of their belief that a better future is ahead of us, both in terms of the economy and the property sector.
“REA are visible, innovative, effective, and their nationwide view on the market through their continued surveying is one that provides a realistic and trustworthy message to both buyers and sellers.

“As a member REA Stokes & Quirke will now be in a position to offer an even better service, thanks to the training and marketing expertise that membership of the alliance brings.”

Wednesday 18 June 2014

REA BROPHY FARRELL OPEN NEW OFFICE

REA Brophy Farrell has opened a second office in Naas, Co. Kildare thanks to an improving property market.

Principal of REA Brophy Farrell, Brian Farrell said the company is looking forward to the future. “In light of the upturn in the property market we feel we can better serve our clients with two marketing offices,” said Brian. “This is a very positive development in view of the recessionary times we have seen over the last six or seven years”.

The long established practice has been selling property in Naas for over 60 years. Tom Brophy started the auctioneering business in Newbridge in 1952 and in 1982 the practice became ‘Brophy Farrell’. “We are delighted to be opening a second marketing office to better serve our expanding business in the greater Naas area,” said Brian

The business now employs 6 people and covers all of County Kildare, and particularly the towns of Naas and Newbridge. “From our many years in business we know that a client needs to have complete trust in their property advisor,” said Brian. “At Brophy Farrell we specialise in giving a personal and honest service , with the experience we have built up over many years, we enable people to achieve their goals.”

A native of Naas, Brian Farrell has watched the town grow hugely since he started in business in 1978. “Naas now has a population of 20,000 but while there have been many changes, the requirements of clients are still the same. “Whether they are a corporate client or private client, it all boils down to trust in their property advisor.”

In 2003 Brophy Farrell joined Real Estate Alliance, a nationwide group of chartered surveyors. In 2013 Brian was joined by Elaine Gillespie Assoc. SCSI. Elaine formerly worked for Lisney and specialises in Residential sales and valuations.
           
Brian Farrell said the opening of another Naas office along with their branch in Newbridge will enable the firm to better serve their long established, client base and to expand that service further.“Our membership of Real Estate Alliance enables us to share market knowledge with the leading property firms in the country, to seize new opportunities for our clients, speed up the sales process and have better access to corporate decision makers.

Further information:
Brian Farrell – REA Brophy Farrell, 045 431327
Eimer O’Keeffe – eimer@realestatealliance.ie 086 8249040



Thursday 22 May 2014

SUCCESSFUL AUCTION OF C. 49 ACRE FARM AT GORTNAGERAGH, DOON, CO. LIMERICK.

REA JOHN LEE SOLD THIS RESIDENTIAL HOLDING UNDER THE HAMMER FOR €290,000.
The property is best described as upland agricultural land with a right of way running through the middle of it and some very high land in most parts. It is part bisected by the public road with heavy rushy land below the road. There is a uninhabitable derelict residence in the centre of the property. 
Bidding opened at €120,000 and continued in €10,000 increments with two bidders to €210,000. From this it proceeded in €5,000 bids to €235,000. The vendors were consulted and further offers were sought. With further bidding it proceeded to €260,000 at which point it was declared on the market. The hammer eventually fell at €290,000 to a neighbouring person who is not a full time farmer. In all there were two bidders with a number of onlookers.

This was seen as an exceptional price as the initial guide was €240,000 - €250,000

Monday 19 May 2014

REA has announced the addition of four new offices to its national roster

Ireland’s fastest-growing network, Real Estate Alliance, has announced the addition of four new offices to its national roster.
Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with over 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.
The innovative group this week unveiled new offices in Clonmel, Westport, Naas and Carrickmascross, adding to its growing national footprint.
“We are delighted to have these new members on board and they represent the type of firm which Real Estate Alliance is proud to be associated with – experienced, professional and qualified,” said REA CEO Philip Farrell.
 “The combination of business being distributed to REA agents from central office, together with the requirement that all agents must be accredited Chartered Surveyors is proving a major attraction to new members.
“Members enjoy the fact that Real Estate Alliance is different from other property groups and they can tap-in to the wealth of knowledge within the group which is particularly useful in valuation work.
“The new agents who have joined our network are REA Stokes & Quirke in Clonmel, REA Olivia Needham in Westport and in Naas REA Brophy Farrell have opened a new office in addition to their Newbridge outlet. REA Gunne Property in Carrickmacross have opened up a new office in addition to their office in Dundalk.
“The recent addition of our new Property Tracker system that interfaces with the clients to give real-time reports to banks and receivers, allows agent and client to deal with sales and management in a much more efficient manner.”
John Stokes of REA Stokes & Quirke in Clonmel has joined the Alliance due to the Group’s increase presence and expert take on the property market.
“We feel that the progressive approach which REA are currently showing in the market place is a vindication of their belief in the positive future which is ahead of us, both in terms of our economy and the property sector,” he said.
“REA are visible, innovative, effective, and their nationwide view on the market through their continued surveying is one that provides a realistic and trustworthy message to both buyers and sellers.”




Available for interview:
Philip Farrell, CEO Real Estate Alliance, 086 250 3515, philip@realestatealliance.ie

For further information on exhibition contact:

Eimer O’Keefe, Real Estate Alliance,  086 8249040 / eimer@realestatealliance.ie