30 Acres in Ballypierce, Buncloud, Co. Wexford for Auction

REA Sothern Carlow are holding an Auction for 30 Acres at Ballypierce, Buncloud, Co. Wexford. The Auction will take place on the 19th of May at 2.30pm at the Seven Oaks Hotel, Carlow.
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WIN A LUXURIOUS GETAWAY AT POWERSCOURT HOTEL RESORT & SPA.

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Closing date 15th of May 2015.
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The price of an average three bedroom semi has risen by just 1.32% nationwide in the first three months of 2015,

The uneconomical cost of building represents a major threat to the health of a property market that has only recently returned to normality, according to Real Estate Alliance.

The price of an average three bedroom semi has risen by just 1.32% nationwide in the first three months of 2015, with prices dropping by over -6% in one area of Dublin, according to a national survey carried out by the group.

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.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

“Following the Q4 slowdown, Dublin is now feeling the joint effects of the abolition of the Capital Gains Incentive and the and the introduction of increased deposit requirements by the Central Bank,” said Philip Farrell.

“However, in areas of the capital where average values are below the €220,000 threshold, strong demand still exists from both first time buyers and investors.”

In Skerries, North Dublin, prices have dropped by €20,000 in three months, with the average semi detached home now costing €290,000.

REA agent Dermot Grimes says the Central Bank’s new deposit rules have definitely had an impact in the market, but buyers are also happy to take their time.

“Prices have come back to mid-2014 levels. The market has stagnated due to the immediate impact of the new lending restrictions, allied with the emergence of a more cautious buyer who is prepared to wait for the right house,” said Mr Grimes.

In Rathcoole, REA McGee report a €10,000 drop in prices since December to €320,000, while REA McDonald in Lucan state that prices have fallen by -1.79% in the west side of the city due to lack of supply of suitable housing.

However, while demand for smaller 3 beds and apartments is strong, Barry McDonald from REA McDonald expects the market to rebound with signs of building sites in full swing fuelling demand.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Taking a view over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%), Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

While uncertainty in the market over the Central Bank’s new lending deposit restrictions has played its part, Real Estate Alliance believe that supply in the market is the biggest issue that the Government needs to address.

“Our survey is taken around the country, and in almost every case, supply is the defining factor,” said Philip Farrell.

“For example, there will be a demand for 10,000 new homes in Dublin this year and there will only be 6,000 built.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.

“Until the costs of building are lowered, or the market takes an unlikely jump, we are looking at being unable to satisfy the demand that exists in the market.

“We are also seeing a series of micro markets opening up within counties such as Meath where Trim (12.9%) has shown a massive rise in the past three months while Ashbourne has actually fallen (-0.71%) in Q1.

“Ashbourne had previously shown growth in the early part of 2014, while Trim is now firmly in the focus of a new wave of commuters and showing its first significant rise.

“It now takes six weeks to sell the average house in Dublin, a week longer than it did in September 2014, while the situation in Tier Three (the rest of the country) has reversed, with time to sell dropping from seven weeks to six on average.”

The rise in mortgage buyers has continued across the nation, with cash purchasers falling from 50% of the market in September 2014 to 42% at the end of March 2015.

In Dublin, 70% of purchases are now funded by mortgages, an increase of 13 points from six months ago.

However, in the Tier Two areas of the commuter belt and the major cities, cash buyers form 43% of the market, down to combination of cheaper prices and the influence of the strength of sterling and returned emigrants.

“With the new regulations coming in, we are seeing commuters starting to move out further again in almost a second migration,” said Philip Farrell.

“In these pockets of localised demand in the commuter belt, we are seeing first time buyers now starting to look at the further extremes of Tier Two due to the fact that they will always fall under €220,000.

“Many of these have loan approval from 2014 which is due to expire in the next few months and we are seeing a “use it or lose it” scenario where we have a stock of new housing in commuter areas.

“Investors are starting to look at rental properties again, which we can see in areas such as Tallaght (+4.55% in Q1) with more affordable house prices but significant rental demand.

“Rental demand is only going one way due to many people being in a holding pattern and an Increase of 10-15% in 2014 could quite possibly be matched in 2015.

“This is happening in a more consolidated way as the amateur investor has been largely removed from the market.”

Ends

The rise in the price of an average three bedroom semi detached house in Dublin city has slowed to 0.66% in the first three months of 2015

The rise in the price of an average three bedroom semi detached house in Dublin city has slowed to 0.66% in the first three months of 2015, 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.
The average three-bed semi in Dublin City now costs €381,667, and when Dublin city and county are taken together, prices have actually fallen by 0.28% from €353,500 to €352,500 in the first three months of the year.
While the market has been flat in South Dublin and Dun Laoghaire generally with no movement in Q1, there were price falls of -3.03% in the Rathcoole area and a rise of 4.55% in Tallaght.
While demand is high for properties close to the €220,000 threshold, the Central Bank’s restrictions on deposit requirements have had an immediate effect on the capital’s housing market, with lack of suitable supply another major factor.
It now takes seven weeks to sell the average house in South Dublin, a figure that has increased from six weeks since September 2014.
“There was slight flurry of activity in January but prices seem to have stabilised,” said Ed Dempsey from REA Dempsey.
Martin O'Donnell from REA O'Donnell in Carrickmines says the market in his area has levelled off, especially for higher-end dwellings, and that lack of supply of three bed houses is still an issue.
Meanwhile, Anthony McGee from REA McGee in Tallaght sees continuing pressure on rents in his area due to lack of available properties.
The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.
However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.
“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell. 
“Following the Q4 slowdown, Dublin is now feeling the joint effects of the abolition of the Capital Gains Incentive and the and the introduction of increased deposit requirements by the Central Bank,” said Philip Farrell.
“However, in areas of the capital where average values are below the €220,000 threshold, strong demand still exists from both first time buyers and investors.”
And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.
In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.
Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).
In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.


Ends

Available for interview:
Ed Dempsey, REA Dempsey, Clonskeagh, 086 172 4449
Anthony Mcgee, REA McGee, Tallaght, 087 2799332
Martin O'Donnell, REA O'Donnell, Carrickmines, 086 244 7772
Kevin Riney, REA Orchard, Rathfarnnham, 087 2988 143


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

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

The price of an average three bedroom semi detached house in the Fingal area has declined by 1.97% in the first three months of 2015

The price of an average three bedroom semi detached house in the Fingal area has declined by 1.97% in the first three months of 2015, with an overall 2.28% increase in prices in the last six months, according to a national survey carried out by Real Estate Alliance.

In Skerries prices have dropped by €20,000 in three months, with the average semi detached home now costing €290,000, with REA agents noting the impact of the Central bank’s new deposit rules and more cautious buyers.

While demand is high for properties close to the €220,000 threshold, the Central Bank’s restrictions on deposit requirements have had an immediate effect on the capital’s housing market, with lack of suitable supply another major factor.

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.

It now takes ten weeks to sell the average house in North Dublin, a figure that has remained unchanged since September 2014.

REA agent Dermot Grimes says the Central Bank’s new deposit rules have definitely had an impact in the market, but buyers are also happy to take their time.

“Prices have come back to mid-2014 levels. The market has stagnated due to the immediate impact of the new lending restrictions, allied with the emergence of a more cautious buyer who is prepared to wait for the right house,” said Mr Grimes.

“The market has softened in the past few weeks with most of enquiries for properties under €200,000 and activity for large properties has become quiet,” said Hugh Cumisky of REA Cumisky, Balbriggan, where prices have increased by €5,000 to an average of €205,000.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Hugh Cumisky, REA Cumisky, Balbriggan, 087 2484489

PG Grimes, REA Grimes, Skerries, 087 2258678

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

Media information:

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

The rise in the price of an average three bedroom semi detached house in Dublin city has slowed to 0.66% in the first three months of 2015

The rise in the price of an average three bedroom semi detached house in Dublin city has slowed to 0.66% in the first three months of 2015, according to a national survey carried out by Real Estate Alliance, with one area experiencing a fall of -1.79%.

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.

The average three-bed semi in Dublin City now costs €381,667, with Lucan and Dublin west in particular experiencing a fall of -1.79% or €5,000 on average.

It now takes four weeks to sell the average house in Dublin city, a figure that increased from three weeks since September 2014.

While demand is high for properties close to the €220,000 threshold, the Central Bank’s restrictions on deposit requirements have had an immediate effect on the capital’s housing market, with lack of suitable supply another major factor.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“Following the Q4 slowdown, Dublin is now feeling the joint effects of the abolition of the Capital Gains Incentive and the and the introduction of increased deposit requirements by the Central Bank,” said Philip Farrell.

“However, in areas of the capital where average values are below the €220,000 threshold, strong demand still exists from both first time buyers and investors.”

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

“The market for three beds and smaller is strong but taking a week longer to sell than last September,” said Barry McDonald of REA McDonald, Lucan.

“However, there is definitely less demand for anything above 400k and we are seeing signs of better supply levels coming with building sites in full swing in various places and new build schemes hitting the market.

“There is a still a little amount of uncertainty out in the market place, but new regulations don’t seem to have had an effect on overall demand.”

Paul Grimes of REA Grimes Dublin city centre said: “There is a massive shortage of stock in Dublin and demand is still very high in the more sought-after areas.

“Three and four bed semis located near good schools and near rail stations are particularly in demand. We are seeing a shortage of property to let with no new builds taking place. “

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Paul Grimes, REA Grimes, 087 2258678

Barry McDonald, REA McDonald, Lucan, 086 387 3800

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

Media information:

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

The price of an average three bedroom semi detached house in Wicklow has declined by 1.56% in the past six months to €210,000

The price of an average three bedroom semi detached house in Wicklow has declined by 1.56% in the past six months to €210,000, but the market has remained flat in the first three months of 2015, 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.

It now takes seven weeks to sell the average house in Blessington, a figure that increased by three  weeks since September 2014, while it takes just two weeks to sell a house in the north east of the county.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Simon Murphy, REA Murphy, 087 231 0005

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

Media information:

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

The price of an average three bedroom semi-detached house in Wexford has risen by 8% to €135,000 in the first three months of 2015

The price of an average three bedroom semi-detached house in Wexford has risen by 8% to €135,000 in the first three months of 2015, 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.

It now takes eight weeks to sell the average house in Wexford, a figure that has remained flat since September2014.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Robert McCormack, REA McCormack Corish, Wexford, 086-8322207

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

Media information:

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

The price of an average three bedroom semi detached house in Westmeath has risen by 2.08% to €122,500 in the first three months of 2015

The price of an average three bedroom semi detached house in Westmeath has risen by 2.08% to €122,500 in the first three months of 2015, with an overall increase of 6.52% in the past six months, 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.

It now takes four weeks to sell the average house in Westmeath, a figure that has remained unchanged since September2014, according to REA Hynes in Athlone.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Healy Hynes, REA Hynes, Athlone, 087 2632295

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

Media information:

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

The price of an average three bedroom semi-detached house in Waterford city has risen 5% in the first three months of 2015 to €152,750,

The price of an average three bedroom semi-detached house in Waterford city has risen 5% in the first three months of 2015 to €152,750, with an overall increase of 10.33% in the past six months, according to a national survey carried out by Real Estate Alliance.

By comparison, prices for three bed semis in Dungarvan have stabilised throughout the past six months at an average of €135,000.

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.

It now takes eight weeks to sell the average house in Dungarvan, compared to ten weeks in September2014, while it takes just four weeks to sell a house in Waterford city.

“The market in the last quarter of 2014 was very buoyant due to the Capital Gains Tax incentive expiring and the new rules with regard to mortgage lending,” said Des O’Shea of REA O’Shea O’Toole in Waterford.

“There is a scarcity of suitable three-bed semis and competitive bidding is now the norm.”

“In the more saleable areas stock is the biggest issue and correctly priced properties are getting a good number of viewings,” said Eamonn Spratt of REA Spratt in Dungarvan.

“It is becoming more noticeable that overpriced properties are not receiving any interest.”

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Des O’Shea, REA O’Shea O’Toole, Waterford, 087 2599976

Eamonn Spratt, REA Spratt, Dungarvan, 086 2531277

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

Media information:

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

The price of an average three bedroom semi detached house in Tipperary has risen by 6.04% to €120,625 in the past year

The price of an average three bedroom semi detached house in Tipperary has risen by 6.04% to €120,625 in the past year, but the market has remained flat in the first three months of 2015, 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.

It now takes six weeks to sell the average house in Newport, compared to eight weeks in Clonmel and Nenagh, and 16 weeks in Roscrea.

“At present we are finding there is very limited suitable stock in the €100,000 - €150,000 first-time buyer market,” said John Stokes, from REA Stokes and Quirke in Clonmel.

“There is huge appetite for new homes in this area, but no supply and no incentive for builders to build with all the restrictions and costs of building.”

“The market has been slow to restart after the Christmas but there has been a huge increase in the number of viewings since the middle of March,” said Eoin Dillon from REA Dillon in Nenagh. 

“Many of those are first-time buyers whose loan offer will expire if not drawn down before the middle of the year and they can also avoid the 20% requirement if they purchase before that time.”

“Investors in Roscrea are are slow to put houses on the market until it rises more, and there is a strong rental market,” said Seamus Browne from REA Browne.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Eoin Dillon, REA Dillon, Nenagh, 087 2052716

Seamus Browne, REA Seamus Browne, Roscrea, 087 249 9570

James Lee, REA John Lee, Newport, 086 2351221

John Stokes, REA Stokes & Quirke, Clonmel, 086 8213777

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

Media information:

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

The price of an average three bedroom semi detached house in Sligo has risen by 14.65% to €90,000 in the past year

The price of an average three bedroom semi detached house in Sligo has risen by 14.65% to €90,000 in the past year, but the market has remained flat in the first three months of 2015, 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.

It now takes nine weeks to sell the average house in the Tubbercurry area, compared to 12 weeks in September 2014, while houses are taking six weeks to sell in Sligo town.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Roger McCarrick, REA McCarrick & Sons, Sligo, 087 6810848

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

Media information:

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

The price of an average three bedroom semi detached house in Roscommon has risen by 9.09% to €60,000 in the past year

The price of an average three bedroom semi detached house in Roscommon has risen by 9.09% to €60,000 in the past year, but the market has remained stable in the first three months of 2015, 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.

It now takes five weeks to sell the average house in Roscommon, compared to eight weeks in September 2014.

“We experienced an uplift in market activity in February with new properties coming to the market and an increase in private vendors,” said Seamus Carthy from REA Carthy. 

“Expectations are higher for vendors so it is interesting to see if the market will accept these higher expectations.

“From our point of view, what is most interesting is that most of the activity is for rural, country homes and this is where we are seeing the greatest reaction from the marketplace in terms of price increases.”

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Seamus Carthy, REA Carthy, Castlerea and Roscommon, 086 8035538

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

Media information:

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

The price of an average three bedroom semi detached house in Offaly has risen by 8.70% to €125,000 in the first three months of 2015

The price of an average three bedroom semi detached house in Offaly has risen by 8.70% to €125,000 in the first three months of 2015, 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.

It now takes six weeks to sell the average house in Offaly, compared to eight weeks in September 2014.

According to Aidan Heffernan from REA Heffernan, the market in Offaly is improving but value and price are still a priority with potential purchasers.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Aidan Heffernan, REA Heffernan, 086 224 6620

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

Media information:

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

The price of an average three bedroom semi detached house in Monaghan has risen by 10% to €110,000 in the first three months of 2015

The price of an average three bedroom semi detached house in Monaghan has risen by 10% to €110,000 in the first three months of 2015, 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.

It now takes six weeks to sell the average house in Monaghan, compared to seven weeks in September 2014.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Dermot Conlon, REA Gunne Properties, Carrickmacross, 087 6787098

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

Media information:

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

The price of an average three bedroom semi detached house in Louth has risen by 1.72% to €147,500 in the first three months of 2015

The price of an average three bedroom semi detached house in Louth has risen by 1.72% to €147,500 in the first three months of 2015, with an overall increase of 5.36% in the last six months, 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.

Drogheda’s average house prices have increased by 2.94% to €175,000 in the first three months of the year, while Dundalk’s prices have remained static at €120,000, up 9% since last September.

It now takes only two weeks to sell the average semi-detached house in Dundalk, compared to eight weeks in Drogheda.

“The market is very active at present with first-time buyers, investors and second-time buyers looking to downsize,” said Michael Gunne from REA Gunne Properties in Dundalk. 

“Currently there is a shortage of three and four bed town properties which generates a great interest in those properties listed for sale.  As a result the short supply versus the demand is creating intense bidding situations.”

Likewise, Darina Collins from REA O’Brien Collins says under supply is still an ongoing problem in Drogheda. 

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Darina Collins, REA O’Brien Collins, Drogheda, 086 3847542

Michael Gunne, REA Gunne Properties, Dundalk, 086 389 0009

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

Media information:

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

The price of an average three bedroom semi detached house in Longford has risen by 37.50% to €55,000 in the past year

The price of an average three bedroom semi detached house in Longford has risen by 37.50% to €55,000 in the past year, but the market has stabalised in the first three months of 2015, 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.

It now takes six weeks to sell the average house in Longford, down from eight weeks in September 2014.

           

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Joe Brady, REA Brady, 086 8231818

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

Media information:

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

The price of an average three bedroom semi detached house in Leitrim has risen by 3.23% to €80,000 in the first three months of 2015

The price of an average three bedroom semi detached house in Leitrim has risen by 3.23% to €80,000 in the first three months of 2015, with an overall increase of 6.67% in the past six months, 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.

It now takes two weeks to sell the average house in Carrick-on-Shannon , one of the fastest moving markets in the country, and eight weeks in the Carrigallen area, down from 12 weeks in September 2014.

           

According to Joe Brady from REA Brady in Carrick-on-Shannon, new stock is coming to the market but at a slower level than 2014, and average prices are €110,000.

“Receivers are still active and their levels are still high, however much of the distressed stock is now off the market,” he said.

“Buyers are fully off the fence and less hesitant to bid having seen prices increase over the past two quarters. UK buyers are very active on rural properties, accounting for half of total sales in our office.”

According to James Spring from REA Peter Donohue in Carrigallen, the local market there is picking up and prices have increased by €5,000 to €50,000 in the past three months.

The average semi detached house nationally, including Dublin, now costs €187,153 the latest REA survey has found – a rise of 16.23% over the past 12 months.

However, the average house has risen by just 1.32%, or €7,005, across the country over the December 2014 figure of €184,713 – and the lack of a supply of suitable housing is a feature of the market across the country.

“There is an acute lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit,” said REA Chief Executive Philip Farrell.

“In country and commuter areas where the average value is below €200,000, supply of new homes will remain reduced even if lands become available due to profitability issues for developers who need houses to sell for above that mark.

“This is caused by the current high cost of construction which is exacerbated by the significant taxes which are payable on a new home (28% of the cost) and the recently increased building regulations.“

And while Dublin led the way in the market recovery last year, prices have fallen by -0.28% in Dublin city and county in the opening quarter, where the average semi-d now stands at €352,500.

In a complete shift in the market, the biggest increases over the last year have come from what is termed Tier Three – the country areas, outside of the pale and the major cities, which have gone up by 17.28%, ahead of Dublin city’s 17.18%, and 14.82% when Dublin city and county are combined.

Over the past six months, property price rise rates in the rest of the country (5.1%) have more than trebled that of the capital (1.55%).

In the opening quarter this year, there have been significant increases in Carlow (7.50%) Kilkenny City (7.41%), Waterford City (5%) and Wexford (8%), while the rise in sterling has seen a jump in property prices in Bundoran in Donegal of 7.69%.

Ends

Available for interview:

Joe Brady ,REA Brady, 086 8231818

James Spring, REA Peter Donohue, 086 8186819

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

Media information:

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