Property prices up 6.2% outside Dublin as three-tier market emerges

The first signs of a nationwide property recovery in 2014 has been confirmed with one national estate agency group reporting a 6.2% annual price increase outside Dublin – as a three-tier market emerges.
A survey of 48 Real Estate Alliance members nationwide has reported a mini-boom in the residential market around the country since mid-January, with average viewing numbers up by 84%.
“We are now moving from a two-tier market to a three-tier one for the first time, with Dublin, a large commuter ring and large urban areas nationwide, and then the rest of the rural areas all showing different levels of positive activity,” said Philip Farrell, Real Estate Alliance CEO.
“Our agents are reporting an increase in supply of 11.5%, with average prices for closed sales rising by 6.2% on the spring selling period last year – the bulk of which has happened since mid-January.
“Each property is now attracting 13 viewers on average, up from seven in 2013, and this has enabled some agents to organise block viewings – something we haven’t seen since the height of the boom.
“Our survey shows that the average time it takes for sale agreed has dropped from 17 weeks in 2013 to an average of ten in 2014.
“We are seeing an increase in bank-funded buyers on the ground which has led the previously strong cash buyers figure to drop from 70% to 56% of the market. 
“In larger urban areas nationwide there is a release of pent-up demand as people begin to make moves to secure property in desirable areas.
“We are also seeing a marked increase in market sentiment, which hit rock bottom last year.
 “Viewing numbers are up, AMVs are being achieved, and exceeded in some cases, with an increase in both first and second-time buyers.”
“While there is an increase in activity overall, there are still some counties which are slow to perform price-wise. 
“This is generally due to over supply in these areas and a lack of demand as potential buyers don’t have the same access to the same amenities that many urban areas provide.”
Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with almost 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents. 
REA O’Brien Collins in Drogheda has reported that a property with an asking price of €80,000 had 41 viewers, attracted 10 bids and sold for €100k after 30 days on the market.
REA Celtic Properties in Bantry have reported sufficient interest to organise block bookings for the first time in five years.
“Take the case of two identical holiday homes in Milford, Co Donegal. One attracted two viewings and one offer last spring and sold for €100,000. This year, a neighbouring property received 10 viewings, and four offers before selling for €111,500” said Philip Farrell.
“In Meath, REA T&J Gavigan are reporting that the average price for a 
three-bed semi-detached in Kells last spring was 100k. That has now risen to €110,000 with strong demand.
“In Limerick, REA O’Connor Murphy are seeing a substantial increase in demand in the prime locations such as the North Circular Road and Ballyclough. This high-end increase is also being reported around the country, in areas such as Drumconora and Barefield in Ennis and Dungarvan.
“In Cork, REA O’Donoghue and Clarke are reporting a 15% price increase, with supply up 20% on last year. Demand is high for three-bed semis and also small sites around Cork city and we are seeing five weeks on average to sale agreed.
“In the coastal areas in particular, we are seeing a large increase in enquiries from the UK – due both to our recent London Property Exhibition and also our tie-up with rightmove.co.uk.
“However, our survey also sees a lot of members predicting a shortfall of supply in their areas due to lack of three and four-bedroomed new developments coming through.”

NORTH MUNSTER REGIONAL AUCTION 3rd APRIL IN LIMERICK

Real Estate Alliance are holding our first North Munster Regional Auction of 2014 in the Limerick Strand Hotel on Thursday the 3rd April at 12.00. For further information contact REA O'Connor Murphy on 061 279300 or info@reaoconnormurphy.ie

http://www.realestatealliance.ie/national-property-auction/

REA TE POTTERTON AUCTION RESULTS

Auction Results from 25th February

5.5 acres with derelict res and yard at Ballybrittas, Kildalkey SOLD €55,00055 acre res dairy farm Archerstown Delvin SOLD €505,000

Cash buyers out in force at REA Property Exhibition

The UK-based buying boom in Ireland is gathering apace, according to figures from Real Estate Alliance’s successful Irish Property Exhibition in London last weekend.
REA members were delighted with the business done at the exhibition at the Hilton London Olympia which attracted hundreds of potential buyers – 92% of whom were potential cash purchasers.
“Our agents were really pleased to meet with so many quality cash buyers and they expect those conversations to very quickly convert into sales,” said REA Chief Executive Philip Farrell. 
“Many of those UK buyers have already made plans to travel to Ireland to view their potential properties. 
“A comprehensive survey taken of attendees showed that the vast majority of them were committed to buying in Ireland, with 46% aiming to spend between €100,000 and €200,000.
“Some 42% of the potential buyers were looking for properties in the €200-300,000 bracket with 9% seeking to spend over €400,000 on a desirable Irish residence.
“The investment sector proved stronger than we would have anticipated, with 40% of those attending seeking to purchase a buy-to-let property in Ireland.
“A further 38% were aiming to buy a retirement home or planning to move here permanently, with 12% of attendees searching for a holiday home and another 10% keen to buy a family house.”
The majority of attendees were interested in buying a bungalow or house with just 20% aiming to purchase an apartment.
“UK buyers are to the fore of a nationwide resurgence in property sales,” said Philip Farrell.
"The average property price in Ireland is now €157,000 compared to €211,000 in the UK, so there is real value in the market, which is driving demand.
“A recent survey of Real Estate Alliance members nationwide showed that 20% of agents' overall enquiries now come from across the water – equating to an average 13% of their overall sales.
“This is why Real Estate Alliance has become the first Irish property group to form a strategic alliance with the UK’s leading property website www.rightmove.co.uk.
“This agreement will see all properties for sale from each Real Estate Alliance office displayed on the overseas properties portal on the industry-leading site, and its sister website www.rightmoveoverseas.co.uk.”
(REA) is Ireland’s leading property group of Chartered Surveyors with almost 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.
Their partners at the event included Rightmove.co.uk, Smart Currency, Careline Removals and Patrick J Farrell & Company Solicitor

Irish Property Exhibition in Hilton London Olympia in Kensington on Saturday February 22 from 10.30am to 2pm.

UK property buyers are flocking to secure their dream homes in Ireland, buoyed by a strong pound and an undervalued market that is now starting to appreciate again. Real Estate Alliance is bringing thousands of properties to their London Property Exhibition, giving UK buyers the chance to browse in comfort and talk to the experts on the ground.

The exhibition takes place in the Hilton London Olympia in Kensington on Saturday February 22 from 10.30am to 2pm.

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 property price in Ireland is now £129,000 compared to £175,000 in the UK, so there is real value in the market, which is driving demand,” said Philip Farrell, Real Estate Alliance CEO.

“An example of the value gap can be seen in a four-bedroom detached home for sale in Callington, Cornwall for £420,000 compared to a similar property and location in Waterford which is on the market for £161,000 – less than half the price.”

Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with almost 50 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.

“We have also linked up with the UK’s largest overseas property website, www.rightmoveoverseas.com, to further showcase our portfolio of properties.”

The event will be held in partnership with Smart Currency Exchange, leading international money transfer specialists and experts in international property purchase.

Further details on the REA London Property Exhibition, and a list of local agents, can be found on www.realestatealliance.ieor send an email to register for the event at info@realestatealliance.ie

Real Estate Alliance link with UK's largest property site

Real Estate Alliance has become the first Irish property group to form a strategic alliance with the UK’s leading property websitewww.rightmove.co.uk.
This agreement will see all properties for sale from each Real Estate Alliance office displayed on the industry-leading site, and its sister website www.rightmoveoverseas.co.uk.
Irish property sales to UK-based purchasers boomed in 2013, with a Real Estate Alliance (REA) survey reporting a 39% increase in business over 2012.
Irish property vendors are being given the chance to cash in on this mini-boom by registering for the Alliance’s upcoming London Property Exhibition with their local REA agent.
The exhibition takes place in the Hilton London Olympia on Saturday February 22 – the day Ireland face England at Twickenham in the Six Nations rugby championship.
Rightmove Overseas Account Manager Tom Whale said that they were delighted to start working with one of the largest estate agency names in Ireland. 
“Interest for property in Ireland on Rightmove Overseas has increased dramatically over the past 12 months with over 25,000 users now looking for Irish properties every month. 
“The large number of listings from Real Estate Alliance will help to provide our users with an exceptional level of choice whether it be for a second home, relocation or pure investment.”
Philip Farrell, Real Estate Alliance CEO said that the agreement will see Real Estate Alliance members offer property vendors even more options and a direct pathway into the growing UK-based purchasers market. 

All REA properties are now on Rightmove.co.uk

Real Estate Alliance have announced that all properties listed with them will be now on the largest UK property portal www.rightmove.co.uk. RightmoveOverseas Account Manager, Tom Whale, said ‘We are delighted to start working with one of the largest estate agency names in the Irish Republic. Interest for property in Ireland on Rightmove Overseas has increased dramatically over the past 12 months with over 25,000 users now looking for Irish property every month. The large number of listings from Real Estate Alliance will help to provide our users with an exceptional level of choice whether it be for a second home, relocation or pure investment
http://www.rightmove.co.uk/overseas-property/in-Ireland.html

Register your property with a local REA agent to bring it to the UK Market

UK buyers are one of the new success stories in the Irish property market and

local property vendors are being given the chance to cash in on a mini-boom by registering for REA’s upcoming London Property Exhibition. Local property agency firms REA Sothern and REA Dawson will be showcasing properties at the Hilton London Olympia on Saturday February 22 – the day Ireland face England at Twickenham in the Six Nations rugby championship.

Contact your local agent by emailing info@realestatealliance.ie

REA agents claim houses near pylons will lose value

 REA Agents based along EirGrid's controversial national pylon routes have condemned the project, claiming it devalues properties and delays sales along the potential corridors.The auctioneers warned property along the potential corridors has become increasingly hard to sell.

"It is our opinion that close proximity to pylon-borne power lines reduces the values of all properties enormously for perceived health reasons," the group wrote in its submission to Eirgrid's public consultation process.

"Whether those reasons are valid or not is not relevant. The fact is that buyers stay away from power lines. Severe discounting compared to similar properties is needed to sell."

The final route is expected to run between Knockraha, Co Cork; Great Island, Co Waterford; and Dunstown, Co Kildare and REA said it was advising clients and communities "that this project will damage property values enormously".

"In valuing a property, all banks ask on their pro-forma valuation reports about existing or prospective developments that may injure the value of the property," the auctioneers said.

ROUTES

"We feel we must disclose a development such as Gridlink as a negative factor on these valuation reports," they stated.

REA said it was aware of a number of properties along proposed routes which have been devalued, or for which the sales process has been brought to a standstill, as a result of Eirgrid's Gridlink plans and public consultation process.

http://www.independent.ie/irish-news/auctioneers-claim-houses-near-pylons-will-lose-value-29954867.html

Irish property sales to UK-based purchasers boomed in 2013 with one national estate agency survey reporting a 39% increase in business over 2012.

Irish property sales to UK-based purchasers boomed in 2013 with one
national estate agency survey reporting a 39% increase in business over
2012. A survey of Real Estate Alliance members nationwide reported that 20% of
their overall enquiries now come from across the water – equating to an
average 13% of their overall sales.
Now Irish property vendors are being given the chance to cash in on this
mini-boom by registering for the Alliance’s upcoming London Property
Exhibition.
The exhibition takes place in the Hilton London Olympia on Saturday
February 22 – the day Ireland face England at Twickenham in the Six
Nations rugby championship.
“UK buyers are to the fore of a nationwide resurgence in property sales,
and this exhibition is a golden opportunity to advertise homes that are on
the market,” said Philip Farrell, Real Estate Alliance CEO.
"The average property price in Ireland is now €157,000 compared to
€211,000 in the UK, so there is real value in the market, which is driving
demand."
Real Estate Alliance (REA) is Ireland’s leading property group of
Chartered Surveyors with almost 50 branches nationwide, comprising many of
the country’s longest-established auctioneers and estate agents.
“A survey of our agents has found that 87% of UK clients are cash buyers,
with 75% of enquiries to offices leading to completion of sales,” said Mr
Farrell.
“These are figures unmatched in any other sector of the Irish property
market today, and I urge those who wish to sell their homes to get in
touch with their local REA agent so their properties can be showcased at
this exhibition.
“The survey has found that 84% of the UK buyers are aged 50 and over with
the majority living in London and the south east.
“We have found a large number of our enquiries come from Irish emigrants
wishing to return, with over half of them buying homes for their
retirement.
“However, we are also seeing a strong pick-up in English people looking
for an affordable escape to the country.
“While there is a strong mix across the price ranges, we are seeing the
largest interest reported in detached properties, generally in rural
settings.
“A further 16% are coming to live and work in Ireland and, interestingly,
of those who are not retired, 29% are buying in Ireland to work from home
and continue their jobs in the UK.
“While holiday homes and change of lifestyle decisions make up a combined
23%, 9% of the properties our agents sold in this market in 2013 were for
investment purposes.
“The quality of the UK buyer has been consistent across the survey, with a
high number being reported as genuine buyers.
“While the average year-on-year increase in trade from the UK came in at
39%, some of our agents have reported rises well in excess of 50%, which
gives us great hope both for this exhibition and 2014 as a whole.”
Further details on the REA London Property Exhibition, and a list of local
agents, can be found on www.realestatealliance.ie

Available for interview:
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

REA agents claim houses near pylons will lose value

REA Agents based along EirGrid's controversial national pylon routes have condemned the project, claiming it devalues properties and delays sales along the potential corridors.The auctioneers warned property along the potential corridors has become increasingly hard to sell.

"It is our opinion that close proximity to pylon-borne power lines reduces the values of all properties enormously for perceived health reasons,” the group wrote in its submission to Eirgrid's public consultation process.

"Whether those reasons are valid or not is not relevant. The fact is that buyers stay away from power lines. Severe discounting compared to similar properties is needed to sell."

The final route is expected to run between Knockraha, Co Cork; Great Island, Co Waterford; and Dunstown, Co Kildare and REA said it was advising clients and communities "that this project will damage property values enormously".

"In valuing a property, all banks ask on their pro-forma valuation reports about existing or prospective developments that may injure the value of the property," the auctioneers said.

ROUTES

"We feel we must disclose a development such as Gridlink as a negative factor on these valuation reports," they stated.

REA said it was aware of a number of properties along proposed routes which have been devalued, or for which the sales process has been brought to a standstill, as a result of Eirgrid's Gridlink plans and public consultation process.

"We are already aware of a proposed sale to a UK resident of a house on Route D6 where the buyer has refused to sign the contract until they know whether or not the property is on the selected route," the group added

OLD Garda Station in Kells reaches sale price of €190,000

The Old Garda Station, Cannon Street, Kells, Co. Meath sold for €190,000, a fantastic €120,000 over the AMV of €70,000. The agent Tom Gavigan did a fantastic job dealing with 103 bids for this property. REA T&J Gavigan, the Auctioneers stated that “the property is a two storey 19^th century natural stone listed building that has been extended and refurbished
http://www.realestatealliance.ie/sys/property-details/?pid=100005667&oid=27&isrental=0&token=1a29b8211f7f6b9f4cc14215261c99f8

100% of Lots sold at Department of Defence property auctions.

Real Estate Alliance held three Auctions last week on the instruction of the Department of Defence and sold all properties on the days of the Auction. This amounts to 10 properties raising just under €1,000,000

http://www.realestatealliance.ie/national-property-auction/

The first auction took place in Killarney’s International Hotel on TUESDAY the 4^th of December at 3pm.  This auction featured two properties. The first ,the Old Garda Station in New St. Killarney auctioned by Donal Culloty of REA Coyne & Culloty of Killarney.  The property sold at Auction for €255,000, a considerable amount over the AMV of €175,000. This property is located in the centre of Killarney Town on a c.0.25 acre site has a large yard to the rear.

The second property auctioned by Eddie Barrett of REA North’s, Tralee, "An Halla Slua", Grey's Lane , off Green St., Dingle ,  A building  of c.198 m2 / 2133 sq.ft. ,in a very central location of this busy Tourism Town. REA North’s, the Auctioneers, were guiding €65,000 and the property sold at Auction for €85,000

The second auction took place in Limerick’s Strand Hotel today on the 5^th of December at 3pm.  This auction featured three properties. Old Weslyan Hall in Thurles sold for €110,000, nearly 3 times its AMV quoted at €38,000. This property was auctioned by REA Seamus Browne, Roscrea.  According to Seamus Browne, “a unique property with a historical background dating back to c.1848 ideally located in Thurles town centre. 

An industrial site at Ballyurra,Kilrush, Co. Clare sold for €27,000 , handled by REA Paddy Browne, Ennis.  An Industrial site of c 0.6 acres situated close to the Kilrush Industrial Estate on the Cooraclare / Limerick Road.

The third property for auction in Limerick was The Sluagh Hall, a Training hall for the Department of Defence in Midleton, Co. Cork.  According to Michael O’Donoghue of REA O’Donoghue Clarke, Cork City, “the property, a prominent and strategically positioned ,with a large corner site, The AMV was €100,000 and the property sold at Auction for €110,000.

The final auction took place in Carrick-on-Shannon’s Bush Hotel on Friday the 6th of December at 3pm.   There were five properties for Auction on the day.

The Manorhamilton property sold for €62,000 with an AMV of €50,000 & auctioned by Roger McCarrick of REA McCarrick, Sligo. The site extends to over 500m2 on a site of approximately 0.5 acre and was used as a Primary & Technical School in the past .

The Old Garda Station, Cannon Street, Kells, Co. Meath sold for €190,000, a fantastic €120,000 over the AMV of €70,000. The agent Tom Gavigan did a fantastic job dealing with 103 bids for this property. REA T&J Gavigan, the Auctioneers stated that “the property is a two storey 19^th century natural stone listed building that has been extended and refurbished”.

The former reserve defence force facilities in Roscommon town, handled by Seamus Carthy of REA Carthy was withdrawn and sold after Auction on the day for €105,000.  

 The former RDF purpose built training premises situated on c. 0.5 acre site in Milford, Co. Donegal was sold at auction for €30,000.

The former training centre at The Mullins, Donegal Town was withdrawn and sold after on the day for €37,000, on c. 0.25 acres , with extensive tarmac area with facility for parking.

According to Philip Farrell, CEO of Real Estate Alliance, “we were very pleased with the results of the Auctions this week and we look forward to working with the Department of Defence to dispose of more properties in the coming few months”.

Further information about the auction can be obtained by logging onto www.realestatealliance.ie or by calling 01 6699996

25 Acres at Farranmacbrien, Ardcroney, Nenagh sold today at public auction

The cottage on 25 Acres at Farranmacbrien, Ardcroney, Nenagh sold today at public auction.  The property was offered for sale with an AMV of €275,000 and bidding started at €150,000,  it continued slowly in bids of €10,000 to €200,000 and from there the pace improved as bidding intensified and progressed in bids of €5,000 to €255,000 with only two bidders in the running.  The property was then placed on the market at €260,000 and another bid of €265,000 was received before the auctioneer Eoin Dillon knocked it down to a third new bidder  at €267,500.  The property is understood to have been sold to two adjoining farmers who are splitting the lands between them.  The selling agents were Jimmy Casey and REA EOIN DILLON
http://www.realestatealliance.ie/sys/property-details/?pid=100005586&ptype=5&location=Tipperary&town=Nenagh&type=&beds=&pricemin=&pricemax=&property_type=5&token=91407dca0b094e2a9f022fb1

First REA Auction for the Department of Defence in Killarney a success

The first auction took place in Killarney’s International Hotel today on the 4^th of December at 3pm.  This auction featured two properties. The first is the Old Garda Station in Killarney which is being handled by REA Coyne & Culloty of Killarney.  The property sold for €255,000, a considerable amount over the AMV of €175,000. This property is located in the centre of Killarney Town on a c 0.25 acre site with a large yard to the rear.

According to Donal Culloty, “The property is ideally located in the centre of Killarney Town and, given the large site as well as the rear access, there are many different uses that can be considered on redevelopment   This property would make the perfect location for a suite of offices or alternatively a great location for a restaurant”.

The second property auctioned by Eddie Barrett of REA North’s, Tralee, is "An Halla Slua", Grey's Lane , off Green St., Dingle , Co. Kerry. This single storey building  of c.198 m2 / 2133 sq.ft. , is in a very central location of this busy Tourism Town. It is in need of considerable refurbishment & renovation. REA North’s, the Auctioneers, were guiding €65,000 and the property sold for €85,000.

http://www.realestatealliance.ie/national-property-auction/

REAL ESTATE ALLIANCE INSTRUCTED TO SELL DEPARMENT OF DEFENCE PROPERTIES AT AUCTION

REA announce a series of auctions to take place throughout Ireland in December.  The group have been instructed by the Department of Defence to sell 10 properties by Auction with an estimated value of €750,000.The auctions will take place in Killarney, Limerick & Carrick-on-Shannon featuring a mix of property types.  The announcement of these auctions is timely with Real Estate Alliance members having seen experiencing positive shift in the property market since the beginning of 2013.

The first auction will take place in Killarney’s International Hotel on Wednesday the 4^th of December at 3pm.  This auction will feature two properties. The first is the Old Garda Station in Killarney which is being handled by REA Coyne & Culloty of Killarney.  This property is located in the centre of Killarney town on a c 0.25 acre site with a large yard to the rear.

According to Donal Culloty, “the property is ideally located in the centre of Killarney town and given the large site as well as the rear access there are many different uses that can be considered on redevelopment   This property would make the perfect location for a suite of offices or alternatively a great location for a restaurant” AMV on this property is €175,000

The second Property to be Auctioned by Eddie Barrett of REA North’s, Tralee, is "An Halla Slua", Grey's Lane , off Green St., Dingle , Co. Kerry. This single storey building  of c.198 m2 / 2133 sq.ft. , is in a very central location of this busy Tourism Town. It is in need of considerable refurbishment & renovation. REA North’s, the Auctioneers, are guiding €65,000.

The second auction will take place in Limerick’s Strand Hotel on Thursday the 5^th of December at 3pm.  This auction will feature three properties.

An industrial site at Ballyurra,Kilrush, Co. Clare is for sale with REA Paddy Browne, Ennis.  The Industrial site of c 0.6 acres is situated close to the Kilrush Industrial Estate on the Cooraclare / Limerick Road. According to Liam Browne of REA Paddy Browne, Ennis, “The property represents exceptional value and it suitable for a variation of uses”.

The second property for auction in Limerick is Sluagh Hall, the Training hall for the Department of Defence in Midleton, Co. Cork.  According to Michael O’Donoghue of REA O’Donoghue Clarke, Cork City, “this property is a prominent and strategically positioned property with a large corner site, zoned town centre. The floor area extends to 576 Sq. M (6205 Sq Ft) with the site c. 0.2124 Hectares ( 0.52 Acres). This property would be suitable for a variety of uses subject to PP. The AMV is €100,000.

The third property for sale by Auction in Limerick is Old Weslyan Hall in Thurles. This property is being handled by REA Seamus Browne, Roscrea.  According to Seamus Browne, “this is a unique property with a historical background dating back to c.1848.   This property is ideally located in Thurles town centre.  The building stands on one corner of the site with a large car park to the side and has good road frontage.  It is ideally suited for a number of commercial activities subject to the necessary consent”. The AMV for this property is €38,000.

The final auction will take place in Carrick-on-Shannon’s Bush Hotel on Friday the 6th of December at 3pm.   There are five properties for Auction on this day including an old technical school, an Old Garda Station and a purpose built training premises.  The auction features the former reserve defence force facilities in Roscommon town.  According to selling agent Seamus Carthy of REA Carthy, “this high profile, quality building with a substantial site area (0.8 acres), offers an exceptionally rare opportunity to acquire a high profile commercial piece of real estate in the heart of the County Town.  The property consists of a Detached Single Storey Building comprising of office and meeting room accommodation together with Toilet and Shower Facilities”. The AMV for this property is €125,000.

The Old Garda Station, Cannon Street, Kells, Co. Meath is also for Auction on the 6^th of December in Carrick-on-Shannon. The property is a two storey 19^th century natural stone listed building that has been extended and refurbished. The accommodation includes a large reception area, private offices, meeting or conference rooms, canteen, shower, changing rooms and four prison cells. The gross internal floor area is c. 370 sq.m. and the site area is c. 640 Sq.m.  According to Tom Gavigan of REA T&J Gavigan, Kells, “It is suitable for a variety of uses including business, community and services companies (subject to planning approval)”. The AMV for this property is €70,000.

The Manorhamilton property extends to over 500m2 on a site of approximately 0.5 acre and was used as a Primary & Technical School in the past prior to being used as a Reserve Defence Force training centre in more recent years. Agent Roger McCarrick of REA McCarrick & Sons says "The property is located in Manorhamilton town centre and has potential for a wide variety of uses subject to standard planning requirements”. The AMV for this property is at €50,000.

A former RDF purpose built training premises situated on c. 0.5 acre site in Milford, Co. Donegal is also being at the Carrick-on-Shannon auction on the 6^th of December. The Property’s AMV is at €35,000 and according to Paul McElhinney of REA McElhinney, “This property requires modernization but offers development potential as the site is well located within the town boundary”.

A former training centre at The Mullins, Donegal Town is the final property up for the Auction on the 6^th of December.  The former Army Training Centre is on c. 0.25 acres with extensive tarmac area with facility for parking. According to Michael McElhinney of REA McElhinney Bundoran, the property would have potential as a distribution facility and is well located in the centre of Donegal town, beside the Donegal post office. The AMV for this property is €50,000 and it represents excellent value”.

According to Philip Farrell, CEO of Real Estate Alliance, “The auction was initiated by the Department of Defence following the announcement some months ago of their intention to dispose of various types of properties which had become surplus to their requirement.

Further information about the auction can be obtained by logging onto www.realestatealliance.ie or by calling 01 6699996. Contact the local agents to arrange viewings on the following numbers:

LIST OF PROPERTIES

Killarney’s International Hotel on Wednesday the 4^th of December at 3.30pm

KERRY, Killarney – Old Garda station.

Confirmed AMV €175,000

Contact - Donal Culloty – REA Coyne & Culloty Killarney 064 66 31274

KERRY, Dingle – One storey building.

Confirmed AMV €65,000

Contact – Eddie Barrett of REA North’s, Tralee – 066 7122699

Limerick’s Strand Hotel on Thursday the 5^th of December at 3pm

CLARE, Kilrush – Site at Industrial Estate.

Confirmed AMV - €25,000

Contact Liam Browne – REA Paddy Browne, Ennis. 065 6841755

CORK, Midleton – Sluagh Hall, training hall.

Confirmed AMV - €100,000

Contact Mick O’Donoghue – REA O’Donoghue & Clarke, Cork - 021 4251010

TIPPERARY, Thurles – Old Weslyan Hall.

Confirmed AMV €38,000

Contact – Seamus Browne of REA Seamus Browne, Roscrea – 0505 23158

Carrick-on-Shannon’s Bush Hotel on Friday the 6t^h of December at 3pm.  

LEITRIM, Manorhamilton – Old technical school.

Confirmed AMV €50,000

Contact – Roger McCarrick of REA McCarrick, Sligo – 071 9185050

The Old Garda Station, listed building, Cannon Street, Kells, Co. Meath

Confirmed AMV €70,000

Contact - Tom Gavigan, REA T&J Gavigan, Kells, Co. Meath. 046 9240045

ROSCOMMON town – Purpose built training premises.

Confirmed AMV €125,000

Contact – Seamus Carthy of REA Carthy, Roscommon – 094 9625990

DONEGAL, Milford – Purpose built training premises.

Confirmed AMV €35,000

Contact – Paul McElhinney of REA McElhinney Milford, 074 9153414

DONEGAL town – A former Training Centre

Confirmed AMV €50,000

Contact - Michael McElhinney of REA McElhinney Bundoran, 071 9841261

For information on the Auction,

log onto www.realestatealliance.ie or by calling  01 6699996

Seamus Carthy of REA Carthy appointed as Vice Chairman of REA

At the Real Estate Alliance AGM last week Seamus Carthy of REA Carthy in Roscommon was appointed as Vice Chairman of REA to support the Chairman Barry McDonald.  The board members for 2014 include:

Barry McDonald – REA McDonald, Lucan

Harry  Sothern – REA Sothern, Carlow

Michael Boyd -  REA Boyd's Kilkenny.

Seamus Carthy – REA Carthy, Roscommon

Michael O’Connor – REA O’Connor Murphy, Limerick City

Ed Dempsey – REA Ed Dempsey, Dun Laoghaire, Co. Dublin

Martin O’Donnell – REA O’Donnell, Carrickmines, Dublin 18

Robert McCormack – REA McCormack Corish, Wexford, Co. Wexford

Michael Gunne – REA Gunne Property, Dundalk, Co. Louth

Barry McDonald of REA McDonald appointed as Chairman of REA last week

Real Estate Alliance held their AGM in the Keadeen Hotel in Newbridge, Co. Kildare, on Friday, 1st November. With a successful 2013 almost behind them, members were looking to the next phase for both Real Estate Alliance and property in Ireland. Coupled with the alliances growth in membership in particular over the last year, plus successes in winning central business for the group, the last year has been an outstanding success for Real Estate Alliance. The first sign of change was the appointment of Real Estate Alliance’s new Chairman, Barry McDonald.  Mr. McDonald, a Chartered Surveyor and Auctioneer, of REA McDonald in Lucan will be Chairperson of Real Estate Alliance for the year ahead. He will be supported by a board of 10 agents from the various firms in REA. (Please see below for a full list of the new board members for Real Estate Alliance).

Newly Appointed Board of Real Estate Alliance

Barry McDonald – REA McDonald, Lucan

Harry  Sothern – REA Sothern, Carlow

Michael Boyd -  REA Boyd's Kilkenny.

Seamus Carthy – REA Carthy, Roscommon

Michael O’Connor – REA O’Connor Murphy, Limerick City

Ed Dempsey – REA Ed Dempsey, Dun Laoghaire, Co. Dublin

Martin O’Donnell – REA O’Donnell, Carrickmines, Dublin 18

Robert McCormack – REA McCormack Corish, Wexford, Co. Wexford

Michael Gunne – REA Gunne Property, Dundalk, Co. Louth

National Property Group’s AGM Focus on the positivity ahead

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

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

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

The mood was much more upbeat than any time since 2007 and reflects a general improvement in the property market across the country.  The recent positive reports on property price were further reinforced by the price increases and levels of activity identified by members of the group.  The Dublin Story has now being well told, but it was heartening to hear that the recovery is not isolated to that market. The estate agents agreed 2013 has been a much improved year with reports of an increase of 60% in sales compared to last year.  

 According to CEO, Philip Farrell, ““I would expect that the next six to twelve month may present people with some of the very best buying opportunities of the last number of years”. The largest increase in activity is lead primarily by people trading up to family homes. First time buyers are also very active in the market”.  He continued, “While this is great news for sellers it is also good news for owners in negative equity and for their banks. It allows those who are in the shallow graves of negative equity to see a squint of daylight and the possibility of a reasonable outcome. For the Banks, this is probably the first time they can with confidence mark the value of the collateral they hold”.  

Real Estate Alliance members also reported considerable growth in the rental market in 2013 around the country, particularly of  three bed houses. In some of the most sought after locations of South Dublin rental increases of 20% were recorded. Areas outside Dublin saw an average increase of 5%.

 In his inaugural speech, Mr McDonald also focused on the successes of Real Estate Alliance over the last year, particularly in relation to central contracts for the group.  According to Mr. McDonald, “We are delighted to welcome in new members to the group over the last few months. The combination of business being distributed to REA agents from central office, together with the requirement that all member firms must be S.C.S.I. accredited is proving a major attraction to new members”.

 Real Estate Alliance is Ireland’s leading property group of Chartered Surveyors with almost 50 Branches throughout the country. REA was founded in 2003 and it comprises some of the Ireland’s best-established auctioneers and estate agents. With one quarter of the alliance’s firms in business for more than a century, the alliance is characterised by a nationwide spread of its Agents who are all members of the Society of Chartered Surveyors Ireland. Real Estate Alliance member firms draw on vast experience in offering clients a top class service in residential, commercial, valuations, sales, purchases, lettings, agricultural lands as well as land development for housing sites, acquisitions, planning, zoning and professional consultancy, including rent reviews, arbitrations, CPO’s, lease renewals and appraisals

Outgoing Chairman Harry Sothern of REA welcomes in incoming Chairman Barry McDonald

At the REA annual general meeting today, Harry Sothern outgoing Chairman will welcome in the incoming Chairman Barry McDonald. They were a great team for 2013 and we would like to thank Harry Sothern of REA Sothern for all his incredible input this year

REA TE Potterton hold successful Auction

Fantastic Auction Results at the REA TE Potterton Auction in Trim last Wednesday 9th October
Portnob, Kildalkey, Co. Meath.
Lot 1 - Residence & 11.29 acres SOLD €158,000
Lot 2 - 12 acres SOLD €90,000
Lot 3 - 57 acres – Withdrawn – under negotiation
www.tepotterton.com

SEA BROOK, BROOK LANE, RUSH, CO DUBLIN - New Launch Weekend of the 5th October 2013

Prices from €199,950 On view Saturday - 12pm – 2pm www.reagrimes.ie Sea, City and Sustainability at Sea Brook, Brook Lane, Rush, Co Dublin A 21st Century home with an indicative ENERGY RATING (B1), a cool contemporary specification and a superb setting close to the beach, sailing club, golf club and all amenities at Rush, Co Dublin. Sea Brook is close to Rush Train Station, the M1, Dublin International Airport and is within easy access of Dublin city centre by bus, car or train, providing an ideal location for living and working in the capital. There a total of 10 of these 3 Bedroom Houses on release from €199,950.

Harry Sothern, Chairman of REA comments on the market

The recent REA group meeting which was held on the 26th of September in Dublin was attended by representatives of their 46 offices and was the most positive in 6 years. All members reported a dramatic increase in business with the Dublin agents complaining of a lack of stock instead of buyers. There was a concensus that the market bottom had been reached and recovery has commenced nationally not just in Dublin. Whilst no one was surprised that this should happen the speed is catching many agents off guard and their scaled down staff struggling to service the viewings. REA firms will be recruiting staff over the coming months. REA are now one of the groups of choice for receiver and stressed sales in some offices this represents 50% of their business. Members noted the significant level of sales to eastern European purchasers in particular Polish. Trading up is becoming popular again with clients taking advantage of the relatively low cost of housing in the middle and upper end of the market. Good agents are normally positive people commented the Chairman and for the first time in many years we have good reason to look forward to a stabilising market.

REA McDonald are selling agents for JESSBROOK equestrian centre,

Once valued at €5m, it has been put on the market by the Criminal Assets Bureau (CAB) and will be sold by private treaty. The CAB was given the go-ahead to dispose of the property by the Supreme Court last November. The property will be offered in three lots. The first comprises 49.55 acres with a 3,000-seater indoor arena extending to about 5,645 sq metres, with two stable blocks including administrative buildings and commentary box. Lot two is 8.73 acres, while the third involves 21.13 acres of grazing land.

New to Market - 14 Lower Rathmines Road, Dublin

Superb 3 storey over basement investment property (316sqm / 3,405 sq Ft) in the heart of Rathmines in superb condition. Currently set out in 5 self-contained apartments, this well maintained property is currently occupied on one year tenancy agreements for 4 out of the 5 apartments. Located just before Portobello Bridge on Lower Rathmines Road, which is considered one of the most sought-after letting locations in Dublin, residents have a host of amenities on the doorstep and are within a short walk of the city centre as well as the LUAS.

McGee Lowe join Real Estate Alliance

Real Estate Alliance has added REA McGee Lowe to its impressive nationwide roster. As a member of Real Estate Alliance, REA McGee Lowe, look forward to continuing to serve their loyal client base, now, with the added benefit of a strong network of established offices both across Ireland. Anthony McGee of REA McGee Lowe believes that this move will bring real benefits to sellers and buyers in the Tallaght area. Commenting on the move Anthony said; “our membership of Real Estate Alliance will enable us to share market knowledge with the leading property firms in the country, seize new opportunities for our clients, speed up the sales process and now having better access to Corporate decision makers.” He continued, “our customers will continue to benefit from our local expertise and knowledge, combined with the extra exposure and experience that this nationwide property group brings.”

Showhouses Open Again

There is murmurings that the residential property market is starting to pick up, according to Harry Sothern of REA Sothern, Carlow. Anyone visiting open houses in Dublin on Saturdays will attest to the numbers flowing in and out of rooms. The satellite towns around Dublin have always been affected by what does on in the ‘Big Smoke’. The property recession hit Dublin first and took about six months to fully hurt towns like Carlow. Carlow agents are hopeful that a recovery in Dublin will seep down here and if recent sales statistics are anything to go by it is already happening. REA Sothern reported three sales alone last Friday! Two other properties on their books received strong offers. Whilst this was the culmination of many viewings over several weeks they are convinced that buyers are now satisfied that the market has bottomed out and are keener to conclude sales than they have been for several years. This Saturday sees the re-launch of Castle Oaks on the Dublin Road (now a NAMA backed development) and REA Sothern are confident of a positive reaction from buyers at new low prices – 3 bed mid-terrace from €120,000, but perhaps the most eye-catching are the 4 bed detached at €200,000. Time will tell. REA Sothern – www.reasothern.ie

Philip Farrell appointed CEO of Real Estate Alliance

Philip Farrell has just been appointed as Chief Executive Officer and his new role will commence this week. REA has been in operation for 10 years and with a 25% increase in size over the last two years currently now has nearly 50 offices operating under its banner across the country. Mr Farrell, who previously held the position of Business Developer Manager of REA since 2011, replaces Eimer O’Keeffe, who will continue to work with REA as Marketing Manager. Mr. Farrell has 25 years experience in the property sector in Ireland. Philip joined REA in 2011 as Business Development Manager and held the position of acting CEO for a period in 2011. He commenced his career as an agent in Co. Kildare in 1989. He spent 22 years working as a partner with REA Brophy Farrell who are based in Newbridge. A Director of REA from 2005-2011, he acted as Chairman from 2005-2006

Tamarisk Cottage sold for €265,000 at Auction

REA O'Shea O'Toole sold Tamarisk Cottage, Dunmore East, Co.Waterford at auction yesterday. Advised minimum value €225K and the property sold for €265K.

June sees highest monthly property rise since crash

Property prices in June registered their highest monthly increase since the housing market crashed more than half a decade ago, new data from the Central Statistics office has shown.Residential prices throughout the country rose by 1.2 per cent compared to May, and showed a similar rise year on year, the first time since 2008 that prices have risen over a 12 month period.

Advertisement for new CEO for REA

REA seeking to recruit a full time CEO. The ideal candidate will be a person looking for an autonomous role and should have a business development background and a detailed knowledge of the property & financial market in Ireland. Applications must be sent to recruitment@realestatealliance.ie by the 5th of July.

REA move into new phase with employment of full-time CEO

REA is moving into a new phase of growth with the employment of a full-time CEO. REA has been in operation for 10 years and has nearly 50 offices working under its banner across the country. Chairman of the REA, Harry Sothern said: “REA is stronger than ever before after our first 10 years in business that has seen a boom, bust and slow recovery in the property market. “We are now seeking a full-time CEO to lead the group into our second decade and help to oversee the expansion of the business.” Mr Sothern said that the employment of a full-time CEO “is a statement of intent” by the group. Over the last number of years, the role of CEO has been a part-time post and Mr Sothern said: “It is only right that the REA has a full-time CEO to lead the group into its second 10 years and new figures confirming a 25% increase in planning permissions in the first quarter of this year offer further confirmation of a recovery in the market. He continued, “We want to be in a position to fully capitalise on the recovery and our new CEO will be central to that by formulating medium and long term growth strategies for the group.” Mr Sothern said that the new CEO will be able to tap into the vast knowledge of REA members in driving the business forward. He said: “All Real Estate Alliance members are members of The Society of Chartered Surveyors Ireland (SCSI) and, with one quarter of our firms in business for more than a century, we offer thousands of years experience in property in Ireland." Mr Sothern pointed out “that already, REA is now recognised as major players in the property market evidenced by the winning of business for the group from various institutions, companies and banks, particularly in the last few years. REA recently re-branded is also a sign of their belief in the future despite the current challenging times.” The past two years have seen the group grow from strength to strength with 12 new offices opening since December 2011 giving 46 REA member offices nationwide. REA expect to reach 50 branches by the end of the summer. The group’s emphasis has never been on having the greatest number of branches around the country and the focus has been on quality rather than quantity. Mr Sothern said that the new CEO will be a person looking for an autonomous role and should have a business development background and a detailed knowledge of the property & financial market in Ireland. The role involves responsibility for developing new business & managing existing relationships with the group's clients; ensuring the Group’s ethos is maintained & that its membership receive an excellent service and ensuring the members of REA are compliant & provide a professional centralised service to the group's clients. Candidates should have should have substantial Property/Banking experience with appropriate qualifications and established knowledge of and relationships with leading banks & receivers, especially in Ireland and the UK.

The Comfy Cafe secures worldwide interest.

Seamus Carthy of REA Carthy received an overwhelming response on the sale of “The Comfy Café” Business situated at Main Street, Roscommon Town. Seamus Carthy confirmed this week that his office received enquiries from all over the world including America, Australia, France and England alongside many local enquiries. Consequently the sale of the subject business was successfully agreed last Friday, 31st May. The new purchasers have confirmed it is their intention to be fully up and running in the course of the next month but in essence they will not be changing in any great detail the day to day running of this extremely successful coffee shop with all existing staff remaining in place. As such, it will be very much business as usual.

Edmond Spratt & Son of Dungarvan join REA

Real Estate Alliance, Ireland’s fastest growing network of dedicated property professionals, has added Edmond Spratt & Son Ltd of Dungarvan to its impressive nationwide roster. There are double celebrations this month as REA Spratt are celebrating their 75th anniversary practicing in County Waterford & East Cork while REA is celebrating their 10th Anniversary. As a member of Real Estate Alliance, REA Spratt, look forward to continuing to serve their loyal client base, now, with the added benefit of a strong network of established offices both across Munster and Nationally. Eamonn Spratt of REA Spratt believes that this move will bring real benefits to sellers and buyers in the Co. Waterford & East Cork. Commenting on the move Eamonn said; “our membership of Real Estate Alliance will enable us to share market knowledge with the leading property firms in the country, seize new opportunities for our clients, speed up the sales process and now having better access to Corporate decision makers.” He continued, “our customers will continue to benefit from our local expertise and knowledge, combined with the extra exposure and experience that this nationwide property group brings.” Eimer O’Keeffe, Chief Executive of Real Estate Alliance, added; “we are delighted to have REA Spratt on board and they represent the type of firm which Real Estate Alliance is proud to be associated with – experienced, professional and qualified. Our continued emphasis on quality before quantity is a critical success factor for Real Estate Alliance, as our 46 firms are members of the Society of Chartered Surveyors Ireland (SCSI). Our aim is always to provide the best service through the most experienced, qualified and professionally recognised estate agents and auctioneers throughout the country,” said Ms O’Keeffe. Spratt’s office at No.9 O Connell Street, is now located in the building where the practice was founded by Eddie & Ita Spratt in 1938. Their son, Donal, entered the family business in 1959 and was highly regarded within the profession and know to one and all throughout the Country. Eamonn, being the third generation joined the practice in 1989. Currently the Firm provides all the services required by a busy rural practice. Eamonn feels that the progressive and aggressive approach which REA are currently showing in the market place, is a vindication of their belief in the positive future which is ahead of us, both in terms of our economy and the property sector. This can be seen with their National advertising presence in recent times. The firm will be strengthened further as a result of joining Real Estate Alliance. Eamonn believes that “we will now be in a position to offer an even better service, thanks to the training and marketing expertise membership of the alliance brings.” ENDS