Friday 1 November 2013

National Property Group’s AGM Focus on the positivity ahead

Real Estate Alliance held their AGM in the Keadeen Hotel in Newbridge, Co. Kildare, on Friday, 1st November. With a successful 2013 almost behind them, members were looking to the next phase for both Real Estate Alliance and property in Ireland. Coupled with the alliances growth in membership in particular over the last year, plus successes in winning central business for the group, the last year has been an outstanding success for Real Estate Alliance.

The first sign of change was the appointment of Real Estate Alliance’s new Chairman, Barry McDonald.  Mr. McDonald, a Chartered Surveyor and Auctioneer, of REA McDonald in Lucan will be Chairperson of Real Estate Alliance for the year ahead. He will be supported by a board of 10 agents from the various firms in REA. (Please see below for a full list of the new board members for Real Estate Alliance).

Real Estate Alliance members met after their best years since 2007 and found many reasons to be positive. There was full attendance by members at the AGM including three recent new members. The property group are now the Group of choice when companies need a national property service in valuations, sales & management provided by Chartered Surveyors.

The mood was much more upbeat than any time since 2007 and reflects a general improvement in the property market across the country.  The recent positive reports on property price were further reinforced by the price increases and levels of activity identified by members of the group.  The Dublin Story has now being well told, but it was heartening to hear that the recovery is not isolated to that market. The estate agents agreed 2013 has been a much improved year with reports of an increase of 60% in sales compared to last year.  
 According to CEO, Philip Farrell, ““I would expect that the next six to twelve month may present people with some of the very best buying opportunities of the last number of years”. The largest increase in activity is lead primarily by people trading up to family homes. First time buyers are also very active in the market”.  He continued, “While this is great news for sellers it is also good news for owners in negative equity and for their banks. It allows those who are in the shallow graves of negative equity to see a squint of daylight and the possibility of a reasonable outcome. For the Banks, this is probably the first time they can with confidence mark the value of the collateral they hold”.  
Real Estate Alliance members also reported considerable growth in the rental market in 2013 around the country, particularly of  three bed houses. In some of the most sought after locations of South Dublin rental increases of 20% were recorded. Areas outside Dublin saw an average increase of 5%.
 In his inaugural speech, Mr McDonald also focused on the successes of Real Estate Alliance over the last year, particularly in relation to central contracts for the group.  According to Mr. McDonald, “We are delighted to welcome in new members to the group over the last few months. The combination of business being distributed to REA agents from central office, together with the requirement that all member firms must be S.C.S.I. accredited is proving a major attraction to new members”.
 Real Estate Alliance is Ireland’s leading property group of Chartered Surveyors with almost 50 Branches throughout the country. REA was founded in 2003 and it comprises some of the Ireland’s best-established auctioneers and estate agents. With one quarter of the alliance’s firms in business for more than a century, the alliance is characterised by a nationwide spread of its Agents who are all members of the Society of Chartered Surveyors Ireland. Real Estate Alliance member firms draw on vast experience in offering clients a top class service in residential, commercial, valuations, sales, purchases, lettings, agricultural lands as well as land development for housing sites, acquisitions, planning, zoning and professional consultancy, including rent reviews, arbitrations, CPO’s, lease renewals and appraisals