The strength of sterling has seen enquiries
about Irish property sales to UK-based purchasers increase significantly in the
past two months, according to the Real Estate Alliance network.
A survey of REA members shows that
enquiries from the UK have increased by 13% on average to agents outside of
Dublin in the past two months.
And there has been a corresponding 25%
annual increase in enquiries about Real Estate Alliance properties listed on
top UK site rightmove.co.uk.
Local REA agents will be among those
bringing the best of Irish property for sale to the Alliance’s upcoming London
Property Exhibition.
The exhibition takes place in the
Millennium Gloucester Hotel and Conference Centre in central London on Saturday
March 21.
“REA are bringing thousands of homes for
sale to London, giving a host of UK buyers the chance to browse in comfort and
talk to the experts on the ground,” said Philip Farrell, CEO of Real Estate
Alliance.
“The exhibition will be a comprehensive
one-stop shop for potential property purchasers with legal and financial
experts joining a network of Real Estate Alliance agents from throughout
Ireland, all with unique properties to show.
“The average UK home now costs
€236,635 whereas in Ireland it is close to €180,000, and the strength of
sterling is magnifying this.
“UK buyer interest is manifesting itself
differently to the existing Irish market in a number of ways, with big surges
in interest in many undervalued rural counties and also scenic and coastal
locations.
“This presents many vendors with the
opportunity of achieving better prices due to interest outside of the normal
marketplace.
“Rural properties in the UK cost an average
of €67,000 more than urban properties – quite the opposite of the Irish market.
“UK buyers are being priced out of rural
properties in their own country, so for many their only chance of an ‘escape to
the country’ is a move to our country.
“We are also seeing interest from UK
investors who are priced out of their own market and feel that they have
reached the top of their curve and are looking for capital growth and yield in
Ireland.”
Real Estate Alliance (REA) is Ireland’s
leading property group of Chartered Surveyors with over 55 branches nationwide,
comprising many of the country’s longest-established auctioneers and estate
agents.
Further details on the REA London Property
Exhibition, and a list of local agents, can be found on
www.realestatealliance.ie or send an email to register for the event at info@realestatealliance.ie.
Ends
For further information on exhibition
contact:
Eimer O’Keefe, Real Estate Alliance
00353 86 8249040 /
eimer@realestatealliance.ie
Media information:
Darren Hughes, MediaConsult 00353 86
2937037 / darren@mediaconsult.ie
