Thursday 24 November 2016

REA Leinster Auction Results

REA Leinster Auction had 15 properties in their November 22nd auction held at the Killashee House Hotel near Naas.
On the day, REA Leinster Auctions sold 11 of their 15 properties with 4 withdrawn, 2 of which are expected to be sold to highest bidders before the end of the week.
Best sellers on the day included three apartments at Centaur House in Carlow through REA Sothern which fetched on average 30% above reserve.
The next REA Leinster Auction is on the 15th December 2016 with ten lots booked in so far.
More info on

Wednesday 23 November 2016


INDUSTRIAL UNIT, TINVANE PARK, Carrick-on-suir SOLD AT AUCTION for €970,000 by REA Stokes & Quirke, Clonmel. This property was on the market for €440k and comprises of a very large warehouse unit on a site of circa. 12 acres. In shell and core condition the entire extends to c. 3,800 sq.m. (40,975 sq.ft.) and comprises of 4 warehousing units and 5 showroom units ranging in size from 706 sq.m. to 771 sq.m.

Finance for residential development key to solving supply shortage: REA

Available finance for residential development is the key to solving the housing supply shortage as home-building becomes potentially profitable, according to national estate agency group Real Estate Alliance.

Real Estate Alliance (REA) members are reporting a marked increase in sales activity across the country and not just in the major cities but also in provincial towns, the group’s AGM heard last week.

While Dublin and the commuter areas are starting to recover from the stagnation caused by the Central Bank’s mortgage deposit restrictions, the biggest rise in activity is being seen in Ireland’s smaller urban towns where the deposit requirement is not as significant.

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.

Eamonn Spratt of REA Spratt in Dungarvan was appointed chairman during REA’s AGM in Dungarvan last week where Frank Daly, chairman of NAMA, addressed the meeting on the future direction of NAMA and the current housing supply shortage.

“Throughout the country, our agents are seeing a definite rise in enquiries, with demand increasing further in quarter four,” said REA Chairman Eamonn Spratt.

“Our REA Average House Price survey saw the average three-bed semi rise above €200,000 in our Quarter Three survey – this level of return is now providing a catalyst to get dormant developers returning to the market with much-needed supply.

“Time taken to sell has reduced by two weeks to five weeks in country areas in the three months to the end of September and our agents are reporting a definite increase in mortgage approvals.

“The Central Bank mortgage deposit rules did not hit the country market as hard as the larger cities as the amount of the deposit required is less.

“For the first time in eight years, the majority of our offices are seeing builders looking for development land across Ireland.

“As well as available finance having a major impact on housing supply, a second hurdle is the provision of serviced land.

“Although buyers are now more plentiful on the ground, the problem of supply remains.

“Interestingly, our agents are now reporting that development land is returning to the market for sale, with builders showing much greater appreciation for the modern buyer's needs.

“REA agents are actively engaging with developers to advise as the requirements of new home buyers.

“We welcome the latest announcement by The Minister for Housing, Planning, Community and Local Government to fast-track the delivery of 30,000 new homes in urban centres across the country.

“In particular we are in favour of the fast-tracking of residential housing schemes and the identification of significant land holdings for potential development.

“Overall, we expect that the market outside Dublin will appreciate by circa 10% over the next year – greatly influenced by the lack of supply.

Thursday 17 November 2016

REA Munster & Connacht Auction

180 people registered for the REA Munster & Connacht Auction held at the Limerick Strand Hotel today. This auction offered a selection of residential and commercial properties and development land throughout Munster & Connacht. 79% of properties were sold at auction with the remaining properties presently under negotiation. Average prices exceeded 21% above the minimum Reserves, in particular there was considerable interest in one property, a partially completed development site in Cullen, Co. Tipperary that had a minimum reserve of €100,000 and sold for €180,000. There were multiple bidders on each of the properties indicating strong demand in the Munster/Connacht region. We have six auctions planned for next year with the first one to be held in February 2017, details to be posted online in the coming weeks.
More information contact
353 (0)61 279300

Monday 14 November 2016


Carthys Bar, Roscommon Town @ 3 PM Sharp
Lot 1
The Meadows, Scrine, Rahara, Co. Roscommon.
4 Bed Detached Home finished to an extremely High Standard internally and externally. Convenient to  Roscommon Town and Athlone. Comprising  Rec. Hallway, Sitting Room, Kitchen/Dining Room, Utility, W.C,  4 Bedrooms (1 ensuite) and a bathroom.
AMV:  €100,000
Lot 2
Patrick Street, Castlerea Town
Town Centre Commercial Property presented in  excellent condition and will be of interest to owner occupiers and investors. Property is ready for immediate use. Obvious potential for Residential Use.
AMV: €45,000
Lot 3
Fairymount, Castlerea, Co.Roscommon.
2.49 Hec/6.1 Acres with Outbuildings/Stable facilities situated thereon. Good Land and offers site potential subject to planning.
AMV: €40,000
Lot 4
Knockroe, Castlerea Town.
4 Bed Detached home situated in the much sought after area of Knockroe. Conveniently located to Train Station (Dublin/Westport Route), Schools, Shops etc. Kitchen/Dining Room, Sitting room, Utility Room, W.C, 4 Bedrooms & Bathroom.
AMV Range: €90,000 - €100,000

Lot 5
5 Riverwalk, Castlerea
Quality 1 Bed 2nd Floor Apartment situated within the rejuvenated Riverwalk Residential Development. Benefiting from its convenient proximity to shops, banks, schools etc. Currently tenanted and offering an income stream of €310 per month.
AMV: €40,000
Lot 6
Apt. 4 Stonecourt, Roscommon Town.
Excellent opportunity for first time buyers , retired couple seeking convenience to Town  amenities etc or investors interested in a property with strong rental demand .Presented in Good Condition. Living Room/Dining Area, Kitchen, Bedroom and Bathroom.
AMV: €50,000
Lot 7
3 Bed Detached House on c. 8.33 hectares (c. 20.5 Acres) of Agricultural Land with excellent road frontage offering future potential (Public sewer available)
Lot 1 Entire : 3 Bedroom Detached House on c. 8.33 hectares (c. 20.5 Acres)
Lot 2: 3 bedroom House on c. 4.1 Hectares(10.13 Acres)
Lot 3: 4.23 Hectares (10.45 Acres)of Land with excellent road frontage.
AMV: 125,000 (Entire)
If you cannot attend the Auction, you can arrange to bid by Telephone or by proxy.  Contact REA Seamus Carthy to pre register. +353 (0)90 6630001