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Thursday, 29 August 2019

REA T&J GAVIGAN ARE HIRING

Residential Negotiator
REA T & J Gavigan Navan
We are seeking a full time qualified and experienced residential property negotiator to join our Team in Navan. We are looking for someone with good customer service, problem-solving, decision making, communication and organisational skills. Must also have:
Minimum 3 years experience in residential sales
PSRA Licence / PSRA Licensable
Full Driving Licence


Commercial Negotiator
REA T & J Gavigan Navan
We are seeking a full time qualified and experienced commercial negotiator to join our Team in Navan. We are looking for someone with good customer service, problem-solving, decision making, communication and organisational skills. Must also have:
Minimum 3 years experience in commercial sales & lettings
PSRA Licence / PSRA Licensable
Full Driving Licence


Front of House Administrator
REA T & J Gavigan Navan
We are seeking a full time Front of House Administrator to join our Team in Navan. We are looking for someone with good customer service, communication skills, organisational skills and capable of working on own initiative and as part of a team
Experience in office administration role
Have strong IT skills (to include MS Word, Excel etc.)
Excellent telephone Skills and customer service

Please send CV to michael@reatjgavigan.ie


Monday, 24 June 2019

Q2 2019 - Average House Price Index

Dublin City second hand property prices decreased by an average of €4,500 in the past three months, the Q2 Irish Independent REA Average House Price Index has found.
The price of a three-bed semi-detached house in Dublin city registered a second consecutive quarter fall (-1%) since the end of March, and -2.2% compared to June 2018.

The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €433,000.
“Time taken to reach sale agreed in Dublin is now eight weeks in the city and nine weeks in the county – reflecting the impact of new homes developments and the difficulties that people are experiencing in obtaining mortgage approval,” said REA spokesperson Barry McDonald.
“Wherever we have new homes on the market, they are definitely having an effect on prices in the existing market as they operate in their own price structure, with buyers prepared to pay a premium for A-rated properties.

“As a result, many of our agents in Dublin and suburban counties such as Meath have reported price falls and an increase in time taken to sell the average second-hand property and a slowdown in viewings, especially among first time buyers.

“The second-hand market remains quite price sensitive, due mainly to the Central Bank restrictions, with demand for properties priced at under €250,000.

“Areas such as South County Dublin have fallen by €6,500 (-1.6%) in three months to €419,000, while North County Dublin areas such as Swords, Skerries and Balbriggan have remained static with prices averaging €322,500.

“There has been a further 2% reduction in cash buyers in the market in the past three months, with mortgage-approved house hunters now making up 83% of purchasers, increasing the effect of the Central Bank rules on the market.

“Looming over what has been a vibrant market up to now is Brexit, which has been cited as a factor in the longer decision making capital and also holiday home locations around the country.”

The Irish Independent REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
The average semi-detached house nationally now costs €236,028, the Q2 REA Average House Price Survey has found – a rise of 0.05% on the Q1 2019 figure of €235,898.
Overall, the average house price across the country rose by 1.54% over the past year – a decrease on the 2.96% recorded to March and an indication that the market is continuing to steady after an 8% overall annual rise to June 2018.
Prices rallied slightly by 0.1% in the commuter counties in the last three months, with the average house now selling for €249,167 – an annual rise of 1.17%.
The increased availability of new homes has had a suppressing effect on prices in some commuter areas such as Kildare, North Wicklow and Meath, where all four REA agents have reported price falls in the quarter.

REA T&J Gavigan in Kells (-5.26%, €180,000) have reduced asking prices from an average of €190,000 in March in order to stimulate demand, while REA Grimes in Ashbourne report -0.8% falls from €302,500 to €300,000.

Agents in Trim have seen the average three-bed semi fall by €7,000 (-2.7%) in three months to €250,000, while it is a similar story in Navan where prices fell by -2.1% to €230,000.

“Overall, the level of activity has decreased with buyers looking at a larger range of properties, slowing the time taken to sell to 10 weeks in towns such as Navan and Trim,” said Barry McDonald.

“In Louth, we have reports of investors returning to the market in both Dundalk and Drogheda, chasing value in second-hand properties, while an increase in supply of new homes is soaking up the first-time buyer market.”
Prices in the country’s major cities outside Dublin were relatively static with agents in Galway and Limerick reporting no change due to an increase in supply and new homes developments.
Cork City showed a slight rise of 0.8% to €320,000 with agents REA O’Connor Murphy anticipating a full year increase to 3%, in spite of an increase of new homes developments in the area.
Waterford City reported a quarterly increase of 2.4%, with tightening supply rising prices to €215,000, up €5,000 from the end of March.
“The highest annual increases (5.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €8,000 in the past year and 1.08% in the past three months to €161,138.
“However, like the major cities outside Dublin, our country towns report a 25% annual increase in time taken to sell from six to eight weeks.
“REA Celtic Properties in Bantry are reporting that Brexit has had a large effect on the market of properties over €300,000. Demand for those priced under €200,000 is active, but the market has slowed to an average selling time of 14 weeks.

“Longford recorded the largest annual rise at 21.9%, with prices increasing from €96,000 to €117,000 in 12 months, and 1.7% since March.

“In Leitrim, REA Peter Donohoe has seen prices jump from €80,000 to €90,000 in the past three months due to increased demand and limited supply – an increase of 12.5% on Q1 and 21.8% on the full year.

“In Tipperary, both REA John Lee in Newport (2.9%) and REA Eoin Dillon (1.74%) in Nenagh report rises in prices to €175,000, but also increases in time to sell.”

Ends

Available for interview: Barry McDonald, REA spokesperson, barry@reamcdonald.ie 086 387 3800
Media information: Darren Hughes, darren@mediaconsult.ie, 086 293 7037










Tuesday, 16 April 2019

REA attend UK property Expo


UK buying interest in property is growing very strongly, according to Real Estate Alliance, who showcased local properties at a massive property exhibition in London last weekend.

REA agents were among those who brought local properties to the London Investor Property Show in The ExCel Exhibition Centre, which had an attendance of 7,000 investors.

“The UK market that has increased by 12% over the past year and REA were the sole Irish exhibitors at this influential expo,” said Mr. Anthony McGee, Vice-Chairman of REA.

Over 74% of estate agents have seen an increase in enquiries from the UK over the past year, a nationwide Brexit property survey carried out by the Real Estate Alliance group has found.

“UK buyers have money to Invest and are seeking opportunities outside their country.

“Ireland is their closest neighbour, we share a common language and has a property market that UK buyers can easily understand and access.

“We saw the greatest demand for investments that yielded 6.5% or better and also from buyers who are seeking Rural Homes who see Ireland as a viable and affordable option.

“We will be hosting viewings for these buyers over the coming weeks and if you have a property that might fall into those categories contact your local agent on REA.ie”

“UK buyers make up 10% of overall enquiries and 6% of sales in the Irish market, with my colleagues in REA reporting an average of 4.3 sales to UK buyers last year.

“30% of enquiries to REA agents cite Brexit as a direct reason for clients moving to Ireland while 21% are coming to live and work in Ireland for reasons unrelated to Brexit.

“Of those, 15% intend to commute to work in the UK, 27% will be working from home for UK companies and 58% will now be working in Ireland – the latter figure an increase of 12% on the previous survey.”

The survey also shows that 23% are buying for eventual or immediate retirement, 8% are investors, 8% are looking for a change in lifestyle, and 9% are purchasing holiday homes – a market that has been hit by the fall in sterling value and remains unchanged over the past six months.

The typical UK buyer is looking for a rural property (54%) with 66% of people looking for a standalone development.


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.

Tuesday, 2 April 2019

Enquiries are up from the UK


Over 74% of estate agents have seen an increase in enquiries from the UK over the past year, a nationwide Brexit property survey carried out by the Real Estate Alliance group has found.

30% of all enquiries from UK buyers are now directly related to Brexit – up 13% on the previous survey carried out six months ago – with 14% of subsequent sales directly due to jobs moving to Ireland.

Agents reported that almost 60% of enquiries were from buyers in London or the South East of England – up from 40% six months ago, and indicative of a shifting jobs market.

And while cross-border residential activity in Border counties and holiday home sales are down, the number of agents reporting a decrease in enquiries has fallen from 21% to 7% in six months.

Overall enquiries are up by an average of 23% among those experiencing an uplift, while those reporting a decrease are seeing calls down by 20%.

Sales to UK buyers have increased by 12% on average over the past year, according to the REA survey.

“UK buyers make up 10% of overall enquiries and 6% of sales in the Irish market, with our agents reporting an average of 4.3 sales to UK buyers last year,” said REA spokesperson Barry McDonald.

“30% of enquiries to REA agents cite Brexit as a direct reason for clients moving to Ireland while 21% are coming to live and work in Ireland for reasons unrelated to Brexit.

“Of those, 15% intend to commute to work in the UK, 27% will be working from home for UK companies and 58% will now be working in Ireland – the latter figure an increase of 12% on the previous survey.”

The survey also shows that 23% are buying for eventual or immediate retirement, 8% are investors, 8% are looking for a change in lifestyle, and 9% are purchasing holiday homes – a market that has been hit by the fall in sterling value and remains unchanged over the past six months.

The typical UK buyer is looking for a rural property (54%) with 66% of people looking for a standalone development.

The biggest percentage of sales to UK buyers (22%) is in the over €500k category, while the average at all €50k stages above the average house price in the State (€236,287) is between 15-17% with 16% between €300k-€500k (down 6% from the previous survey).

“25% of UK buyers now have no connection with Ireland, which would be a change in historical patterns of enquiries and sales,” said McDonald.

Over 7,000 UK property buyers are being offered the chance to view thousands of Irish properties, and to talk to the people selling them, when REA exhibit at the UK Property Investor Show on April 12-13 at ExCel London.

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.

For more information listing properties for the UK Property Investor Show see realestatealliance.ie/overseas.


Ends

Media information: Darren Hughes, darren@mediaconsult.ie, 086 293 7037

Monday, 25 March 2019

REA Average House Price Survey Q1 2019

Property prices in Dublin city have decreased by an average of €7,500 in the first three months of the year as mortgage finance rules bite, the Q1 REA Average House Price Index has found.
The price of a three-bed semi-detached house in Dublin city has fallen by -1.7% since the end of December, wiping out the average €7,000 gains in value experienced throughout 2018.

The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €437,500.
“Time taken to reach sale agreed in Dublin is now eight weeks – double that of a year ago –and reflects the difficulties that people are experiencing in obtaining a mortgage,” said REA spokesperson Barry McDonald.
“We are seeing an appreciable drop in people attaining mortgage approval – particularly for properties above €350,000 – which is creating a ceiling that is stifling the market.

“There are essentially two markets – people who have to buy and people who can choose to move.
“The first set of buyers are purchasing properties under €350,000, but the latter are either cautious about values and interest rates post-Brexit and are adopting a wait-and-see approach, or cannot secure mortgage approval.
“There is also no doubt that Brexit is causing uncertainty in the higher end of the market."
“Our agents also report that buyers have been less location specific and more driven by price in Dublin and surrounding areas in the first quarter.”

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
The average semi-detached house nationally now costs €235,898, the Q1 REA Average House Price Survey has found – a fall of -0.16% on the Q4 2018 figure of €236,287.
Overall, the average house price across the country rose by 2.9% over the past year – a decrease on the 4.6% recorded to December and indicating that the market is continuing to steady after a 9.1% overall annual rise to the end of Q1 in 2018.
Prices also fell slightly by -0.3% in the commuter counties in the last three months – an annual rise of 2.7% – with the average house now selling for €248,750.
While there were rises in Kildare (1.1% to €276,500), prices fell in Wicklow (-0.7% to €289,000) and Louth (-3.6% to €202,500).
Prices were static in the country’s major cities outside Dublin with agents in Cork, Galway, Limerick and Waterford all reporting no price movements in the opening quarter, but an annual increase of 3.6% to €252,500.
The highest annual increases (6.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €9,400 in the past year and 1.1% in the past three months to €159,433.
Ends
Barry McDonald, REA spokesperson, barry@reamcdonald.ie 086 387 3800
Media information: Darren Hughes, darren@mediaconsult.ie, 086 293 7037








Sunday, 24 March 2019

REA Survey on the UK market

Over 74% of estate agents have seen an increase in enquiries from the UK over the past year, a nationwide Brexit property survey carried out by the Real Estate Alliance group has found.

30% of all enquiries from UK buyers are now directly related to Brexit – up 13% on the previous survey carried out six months ago – with 14% of subsequent sales directly due to jobs moving to Ireland.

Agents reported that almost 60% of enquiries were from buyers in London or the South East of England – up from 40% six months ago, and indicative of a shifting jobs market.

And while cross-border residential activity in Border counties and holiday home sales are down, the number of agents reporting a decrease in enquiries has fallen from 21% to 7% in six months.

Overall enquiries are up by an average of 23% among those experiencing an uplift, while those reporting a decrease are seeing calls down by 20%.

Sales to UK buyers have increased by 12% on average over the past year, according to the REA survey.

“UK buyers make up 10% of overall enquiries and 6% of sales in the Irish market, with our agents reporting an average of 4.3 sales to UK buyers last year,” said REA spokesperson Barry McDonald.

“30% of enquiries to REA agents cite Brexit as a direct reason for clients moving to Ireland while 21% are coming to live and work in Ireland for reasons unrelated to Brexit.

“Of those, 15% intend to commute to work in the UK, 27% will be working from home for UK companies and 58% will now be working in Ireland – the latter figure an increase of 12% on the previous survey.”

The survey also shows that 23% are buying for eventual or immediate retirement, 8% are investors, 8% are looking for a change in lifestyle, and 9% are purchasing holiday homes – a market that has been hit by the fall in sterling value and remains unchanged over the past six months.

The typical UK buyer is looking for a rural property (54%) with 66% of people looking for a standalone development.

The biggest percentage of sales to UK buyers (22%) is in the over €500k category, while the average at all €50k stages above the average house price in the State (€236,287) is between 15-17% with 16% between €300k-€500k (down 6% from the previous survey).

“25% of UK buyers now have no connection with Ireland, which would be a change in historical patterns of enquiries and sales,” said McDonald.

Over 6,000 UK property buyers are being offered the chance to view thousands of Irish properties, and to talk to the people selling them, when REA exhibit at the London Property Show on April 12-13 at ExCel London.

"Brexit is driving an upswing in commercial property investment on the vital M1 north-south corridor according to both of our agents in Co Louth, with REA Gunne Property in Dundalk reporting a doubling of interest in the past 12 months.

"In the residential market, most areas are reporting increased calls from the UK but uncertainty on a local level is slowing the number of properties coming to market.

"In my own practice in Lucan we have had a 20% increase in enquiries, but many local buyers are adopting a wait and see approach in regard to values.

"This uncertainty is having a multitude of effects in the same county in many cases.

"Our agents in Roscrea, REA Seamus Browne, have seen a doubling of business from the UK this year.

"However, in Clonmel, REA Stokes and Quirke have sold five houses this year for people in rural areas heading back to the UK - with another two on the market as people take advantage of the drop in value of Sterling.

"In Kilkenny, REA Grace in Callan (+15%) are getting a lot of enquiries from the UK with people having already made up their mind that they are moving to Ireland.

"The holiday home market in border areas has slowed due to reticence on behalf of Northern buyers.

"In other traditional areas such as West Cork, our agents are reporting that potential UK buyers are increasingly looking at the rental market, which is being hit by a shortage of available properties.

"Our agent in Limerick REA O’Connor Murphy is reporting that interest is still strong in the once-off property in the west of Ireland, which is unlikely to be driven by Brexit job movement."

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.

Ends

Media information: Darren Hughes, darren@mediaconsult.ie, 086 293 7037




Thursday, 10 January 2019

REA predictions for 2019

It’s a deal or no deal scenario for Irish property in 2019 as the spectre of Brexit hangs over property agents’ predictions for the coming year.

A survey carried out for the Irish Independent by the Real Estate Alliance Group has found that agents throughout the country expect prices to rise by 4.2% on average in the next 12 months.

However, a hard Brexit will present the market with challenges across the country, the survey has found.
The 4.2% prediction comes off the back of a 2018 which saw prices increase by 4.64% nationally and 1.97% in Dublin city and county with less than 1% growth across the country in Quarter Four.
Price rises of 2.8% are predicted by agents in Dublin city, with north county Dublin increases of 4% forecasted (4.9% last year), just ahead of an anticipated upturn of 3.5% in the south of the county (0.9% in 2018).

John Cumisky of REA Cumisky in Swords and Balbriggan is predicting a slow start to the year until Brexit is resolved, with any increases in the low single digits.

This is echoed in the higher end of the market in South Dublin where REA Ed Dempsey states that the Brexit effect is now starting to show at the upper end of the market, and that next year’s prices will reflect the Brexit outcome.

“Typically, it remains the case that lower value stock is selling better than larger family homes above €400,000,” said REA spokesperson Barry McDonald.

“We expect minimal increase in values as stock levels on the market continue to rise.

“In my own area of Lucan, new home developments are earmarked to hit the market in Spring 2019, and this will only continue the trend of increased stock numbers.

“It is hard to predict what will happen with Brexit and property prices. Our agents either see people holding back in border and holiday home areas because sterling might rise giving buyers more power, or more generally, because they do not know how the market will react to a no deal scenario.”

Agents in three of the four main cities outside Dublin are cautiously optimistic about 2019, with rises of 4% predicted in Cork (2.4% in 2018) and 5% in Galway which experienced 9.7% growth last year.

While Limerick is also forecasting 4% which matches its yearly growth, with agent Michael O’Connor of REA O’Connor Murphy predicting an increase in the new homes market while the second-hand area will behave as in the latter stages of 2018 with sales taking longer to transact.

Agents in Waterford are predicting that prices will rise by 10% after a year which saw average houses sell for €210,000 – an increase of €15,000 or 7.7% in the last 12 months.

“Demand continues to be strong and asking prices are being exceeded by competitive bidding in Waterford City,” said Des O’Shea of REA O’Shea O’Toole.

“We expect the 2019 market to be buoyant. Factors include easier access to mortgage finance, good demand, and scarcity of given property types.”

Counties around Dublin are forecasting a rise of 4.6% on average after a year which saw their prices increase by 4.1%, slightly below the national figure.

“We would anticipate a modest increase, possibly up to 3% during 2019,” said Darina Collins of REA O’Brien Collins.

“The political uncertainty around Brexit, the Central Bank lending restrictions and the fact that mortgage exemptions are front loaded to the beginning of the year are all pointing to a fairly flat market.”

Apart from Waterford city, the biggest rise being predicted nationwide is in Longford, where affordable housing at an average price of €105,000 drove inflation of 16.7% in 2018.

The Brexit effect is not only being felt in our major towns and cities, with middle Ireland anticipating the downside of no agreement on property prices.

“A hard Brexit could have a serious knock-on effect to some large employers in the area and to the residential letting market,” said Robbie Grace of REA Grace in Callan Co Kilkenny, where a 2% is predicted for 2019.

Former REA Chairman Eoin Dillon has described how a deal or no deal scenario would affect business in Tipperary in plain terms.

“If Brexit goes well then a +5% to +10% increase will be on the cards.  If it’s no deal, or a bad deal, then we foresee only a nominal increase,” he said.

The higher end of the market, over €500,000, has been impacted by Brexit, claim agents REA Coyne & Culloty in Killarney.

“If there is no hard Brexit, sterling could rise, and potential buyers are therefore holding off as there could be up to 15% extra to spend in this case,” said Donal Culloty.

Other traditional holiday home destinations such as Bantry are finding a new breed of Brexit buyer relocating from the mainland Europe.

“This year three UK couples relocated from Spain, Portugal and France due to Brexit – all purchasing properties under €200,000,” said John O’Neill of REA Celtic Properties.

Ends

Media information: Darren Hughes, darren@mediaconsult.ie