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Thursday, 23 April 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

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 














The price of an average three bedroom semi detached house in Laois has risen by 4.35% to €120,000 in the first three months of 2015

The price of an average three bedroom semi detached house in Laois has risen by 4.35% to €120,000 in the first three months of 2015, with an overall increase of 20% 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 eight weeks to sell the average house in Laois, compared to 12 weeks in September 2014.
           
According to Seamus Browne from REA Seamus Browne in Portlaoise, the lack of supply is still an issue in the more desirable areas, particularly with three bed semis, with strong demand from first time buyers.

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 Browne, REA Seamus Browne, 087 249 9570


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 Kilkenny city has risen by 7.41% in the first three months of 2015, with a 4.17% increase in Callan over the same period, according to a national survey carried out by Real Estate Alliance.

The average house in Kilkenny city now costs €145,000 while semi-detached homes in Callan and other areas of the county are selling for €125,000.

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 four weeks to sell the average house in Kilkenny city, compared to eight weeks in September 2014.
           
According to Michael Boyd from REA Boyd’s, there is an acute lack of supply of suitable housing in Kilkenny city.

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%), 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:
Michael Boyd, REA Boyd’s, Kilkenny, 087 2611699
Robbie Grace, REA Grace, Callan, 086 8297189

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 Kildare has risen by 13.53% in the past year to €241,250

The price of an average three bedroom semi detached house in Kildare has risen by 13.53% in the past year to €241,250, with a slight 1% increase 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.

Prices in Newbridge have jumped 2.63% to €290,000 in the first three months, Naas has increased by 2.22% to €230,000 while prices in Maynooth and Celbridge, which experienced growth for much of last year, remain at €270,000 in Q1.

It now takes eight weeks to sell the average house in Naas and Newbridge, compared to 12 weeks in September 2014, while the time taken to sell a house in Maynooth and Celbridge has increased from four weeks to 11 weeks in the last six months.
           
“Second-hand residential properties will continue to rise until builders start making some profile,” said Brian Farrell, REA Brophy Farrell in Naas and Newbridge.

“In Naas, it is now making financial sense for developers to build new houses and there are three new developments planned for 2015. Proximity to Dublin and the opening of the Kerry Group development are driving demand.”

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:
Brian Farrell, REA Brophy Farrell, Naas and Newbridge, 086 2558125
Will Coonan, REA Coonan, Celbridge and Maynooth, 086 8134388

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 Kerry has risen by 8.77% to €155,000 in the past year

The price of an average three bedroom semi detached house in Kerry has risen by 8.77% to €155,000 in the past year, with a 2.7% increase in Killarney in the first three months of 2015, according to a national survey carried out by Real Estate Alliance.

The average house in Killarney is now costing €190,000, up €5,000 since the turn of the year while prices in Tralee have remained flat in the first quarter of 2015 at €120,000, showing an overall increase of 9.09% in the past six months.

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 Tralee, compared to 16 weeks in September 2014, while it takes six weeks to sell a house in Killarney.
                       
 “There is a lack of supply in the Killarney town area at present and with no new construction projects commencing, it follows that prices and rents will increase over the next 12 months,” said Donal Culloty of REA Coyne & Culloty, Killarney.

“The market is improving at present, with greater interest in property from all segments of the market. We see the market continuing to improve during 2015 with more bank lending adding to the numbers of cash purchasers currently looking for property,” said Eddie Barrett from REA North’s in Tralee.

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:
Eddie Barrett, REA North’s Tralee, 086 2568265
Donal Culloty, REA Coyne & Culloty Killarney, 087 2354790

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 Co Donegal has risen by 3.45% to €75,000 in the first three months of 2015

The price of an average three bedroom semi detached house in Co Donegal has risen by 3.45% to €75,000 in the first three months of 2015, with an overall rise of 5.63% 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 seven weeks to sell the average house in Bundoran, compared to 12 weeks in September 2014, where the rise in sterling has been a contributory factor in a 7.69% rise in prices in the first three months of the year to an average of €70,000.

“The affordable end of the market is extremely busy with strong demand for homes priced up to €100,000,” said Michael McElhinney from REA McElhinney in Bundoran.

“We see a shortage of supply at this end but the market remains quite buoyant and this is reflecting the sterling exchange rate.”

According to Paul McElhinney from REA McElhinney in Milford: “There is still strong interest in three bed semis, with our average price at €80,000, and although supply has eased up, there is still a steady stream and demand has kept pace.

“As a result prices are stabilised rather than rising although over the course of the year we may see a slight increase.”

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%).


Ends

Available for interview:
Michael McElhinney, REA McElhinney Bundoran, 087 2598966
Paul McElhinney, REA McElhinney Milford, 086 122 9335

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 County Cork has risen by 2.3% to €110,000 in the first three months of 2015

The price of an average three bedroom semi detached house in County Cork has risen by 2.3% to €110,000 in the first three months of 2015, while the same house in Cork City has risen by 3.77% to €275,000 according to a national survey carried out by Real Estate Alliance.

And prices in Cork City have risen by 10% in the last six months, from a level of €250,000 in September 2014.

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 12 weeks to sell the average house in Bantry, compared to 18 weeks in September 2014, while it takes three weeks to sell a suitable house in Cork city.

“There is a distinct lack of supply in Cork city and surrounding towns, with no construction activity,” said Michael O’Donohue from REA O’Donohue Clark in Cork.

“For this reason, properties that are on the market are attracting a lot of interest. We do not see supply volumes increasing and this will drive prices up even further.

“There are a lot of mortgage approvals already in place but they are struggling to find the right property.

“Although some properties are coming on the market through receivers, they are not generally meeting the demand for the family three-bed semi.”

According to John O’Neil, Bantry, Cork, REA Celtic Properties: “Strong interest from the UK has fuelled the market since the start of 2015 with an increased level of inquiries from abroad throughout the first quarter, thanks mainly to the strength of sterling.

“The local market in Cork is active and discerning, and growing in confidence month-by-month. Local tradespeople have returned to the market and are starting to buy up properties for renovation especially in coastal areas.”

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:
Mick O’Donohue, REA O’Donohue Clark, 087 252 7485
John O’Neill, REA Celtic Properties, 087 2357288

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 Meath has risen by 28.33% in the past year

The price of an average three bedroom semi detached house in Meath has risen by 28.33% in the past year, with a 2.39% increase in the first three months of 2015 to €192,500, 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 Ashbourne and Navan, compared to five weeks in Kells and four in Trim.

A series of micro markets is opening up in Meath where Trim (12.9%) has shown a massive rise of €20,000 in the past three months to and average of €175,000, while prices in Ashbourne have fallen slightly (-0.71% or €2,000) in Q1 to €280,000.

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.

Prices in Navan (€175,000) and Kells (€140,000) have stabilised in the first three moths of year.

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:
Paul Grimes, REA Grimes, Ashbourne, 087 2556945
Cara Gavigan, REA T & J Gavigan, Kells, 086  2454707
Michael Gavigan, REA T&J Gavigan, Navan, 086 2560530
Thomas Potterton, REA Potterton, Trim, 086 2569344

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 Limerick has risen by 16.67% in the past year

The price of an average three bedroom semi detached house in Limerick has risen by 16.67% in the past year, but the market has remained flat in the first three months of 2015 with suitable supply the major issue, 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 Limerick, down from eight weeks in September 2014, with the average price now €140,000.
           
“While we have experienced more viewings and enquiries in the marketplace from December 2014 to March 2015, the lack of supply has diminished our ability to increase sales levels,” said Michael O’Connor from REA O’Connor Murphy in Limerick city.

“However, within the last two weeks we have seen a dramatic change in this and expect an increase in prices in the region of 10% for the coming quarter. In general, there is a drastic improvement in the market and we are positive for the remainder of 2015.”

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:
Michael O’Connor, REA O’Connor Murphy, 087 2597034


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 















Monday, 20 April 2015

Successful Auction held in Roscommon last Friday.

Seamus Carthy of REA Seamus Carthy confirmed 5 properties were sold last Friday at their Auction held in Carthys Bar & Guesthouse, Castle Street, Roscommon Town.  Quality properties were on offer and all properties sold reached the Reserves.  To list your property in the next REA Seamus Carthy Auction please contact Seamus Carthy directly and in confidence on 094 96 25990  090 66 30001.  Seamus Carthy also confirmed last week the sale of 6 more properties comprising Agricultual Land, Residential Properties and Commercial Land and is now urgently seeking further properties in order to satisfy the substantial level of enquirers both their Castlerea and Roscommon office are receiving

Saturday, 18 April 2015

House price trends reverse in first three months as regions rise and Dublin falls


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 Real Estate Alliance.

And the uneconomical cost of building new homes represents a major threat to the health of a property market that has only recently returned to normality, according to REA.

The Real Estate Alliance Average house index concentrates on Ireland's typical stock home, the three-bed semi, giving an accurate up-to-date picture of the property market in towns and cities countrywide.

The average semi-detached house nationally, including Dublin, now costs €187,153 – 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 areas where the average value is below €200,000, supply of new homes will remain reduced 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 and 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 a jump, we are looking at being unable to satisfy the demand that exists in the market.”

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 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, with REA agents reporting the impact of the Central bank’s new deposit rules.
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.

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%.

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.


Ends

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 



Thursday, 16 April 2015

REA Secret Sellers Tips





1. Before you set your price,check out the competition!
The first step towards selling your home is to price it right. Price it too high and it won’t sell. Price it
too low and although you may get a quick sale, you’ll always wonder whether you could have got more. The secret to pricing your home correctly lies in checking out the competition. See what
similar houses in your area are selling for. And with more and more estate agents now online, you
can even do it discreetly from the comfort of your home.
2. Know your buyer and tailor your home accordingly
Knowing your buyer isn’t about being psychic. It’s about stepping back and looking at your home, the area it’s in and the types of people who live around you and then making an educated decision about the type of buyer your home will appeal too. So, if you’re selling a two bedroom flat in the town centre then it’s less likely to appeal to a family and more likely to appeal to young professionals. Once you’ve worked it out you can tailor your home accordingly.
3. Don’t be precious! You’re selling a house not your idea of a home.
It can be hard when selling to keep emotions out of the equation. Invariably your
home will be full of treasured memories you won’t want to let
go. But remember this means nothing to your buyer. It’s important to make it as easy as possible for them to imagine life in your home. This means doing all you can to create a blank canvass for potential buyers.
4. Before spending any money on your house, be sure you’ll earn it back.
Remember you’re selling your home, so when it comes to improvements keep it simple! Simple improvements like a fresh coat of paint and tidying up the garden can make a difference.
5. First impressions count, so make a good one.
As with everything in life, first impressions are very important. So start at the front gate. Mow the
lawn and tidy your garden. Clean the front porch and if your front door needs it, give it a fresh coat
of paint. Give the letterbox and doorknob a good polish. And if there are lights in your porch or
garden make sure they work. You don’t want to intimidate buyers with a dark and unwelcoming
approach. However small, these things won’t cost an arm and a leg and all help to create a good first
impression.
6. If it looks out of place, get it out of the place.
Once inside its important to create a feeling of space, so clear away the clutter. Make sure your home is clean and tidy and clear of obstacles like discarded toys, bicycles and overflowing
laundry baskets. Clear out your bookshelves to create a minimal look and make sure the coat rack isn’t weighed down. And if you have furniture that gets in the way or has become
tired and dated, consider putting it into storage. It’ll all help to give your place, a lot more space!
7. When it comes to colour, stay neutral.
If you do decide some rooms do need to be painted then this isn’t the time to experiment.
Stay neutral with a palette of creams and off whites! Neutral colours help to brighten a home
and give it a fresh look. They’re also really passive and so allow the buyer to imagine your home in
their chosen palette.
8. Every room should have a reason, not two or three or…
While it might make sense for you to push over the bed in the spare room and use the space as
your office, to a potential buyer it looks like the room has a split personality. Make it easy for the
buyer and give each room its own identity. Take the exercise bike out of the dining room and put
the kids toys into their bedrooms or playroom.
9. Your kitchen is the heart of your home, so make sure it has a pulse!
Kitchen fashions are always changing but selling isn’t the time to fork out for a refit. Getting a new kitchen plan can be a good idea. But there are lots of other ways to give your kitchen a
facelift that won’t cost the earth. Try painting tired and worn units or replacing just the doors. Even fitting new handles can give an old-fashioned unit a new lease of life. Hide the rubbish
bin, clean the work surfaces and then dress them with a few well-chosen items - a bowl of fresh fruit, a bottle of extra virgin olive oil and a nice bottle of vino to finish it off.
10. Every place needs a dining space.
We all like to entertain from time to time which is why every home needs a proper dining area. In smaller homes a table in the corner of the kitchen will do just fine. You can add a
folding screen to section it off and then give it a relaxing feel with soft lighting. In larger homes the dining table tends to become a dumping ground for children’s homework, the
computer and unpaid bills. Keep it clear and if you must put something on it, make it a vase of beautiful fresh flowers. Finally introduce soft light with a dimmer switch, a table lamp
or a simple candle.
11. Make your lounge a place to really lounge in.
The sitting room is where the buyer of your home will spend most of their time so it should shout comfort and relaxation. Clear away any old furniture that gets in the way and keep
the mantelpiece looking minimal. If your chairs and sofa are looking a bit tatty, try some throws or cushions to brighten them up. You could even consider hiring furniture to give the
room a more modern look. If your sitting room is small make sure it isn’t being taken over by a TV that’s too big for it. And finally introduce soft light with a dimmer switch, a table lamp
or a simple candle.
12. Before a bathroom is seen, make it bright and clean.
If there is one room in the house that needs to be spotless it’s your bathroom. No potential buyer wants to wonder what that nasty whiff was or about the staining on the bathroom carpet.
So give everything a good scrub, polish the mirror and clean the routing between the tiles. If the flooring is worn, replace it cheaply with vinyl. Brighten up a well-used shower simply with
a new curtain. Make sure the shelves aren’t coming down with lotions and potions. And finish the room with a fragrant potpourri and some bright white fluffy towels.
13. Your bed is comfortable but make sure your bedroom is too.
A homes main bedroom will be the new owners private retreat. Here’s how to make yours into a
place anyone would enjoy retreating to. Firstly clear out your cupboards leaving only your finest,
neatly hung and folded. That’ll take care of any nosy buyers and create a feeling of space within
them. Go for a sophisticated look with clean white bed linen. Add bedside tables and reading lamps.
Then scatter a few coloured cushions in different fabrics at the head of your bed.
14. Make your children’s bedrooms attractive to all children.
Children’s bedrooms should be made as neutral as possible so that they appeal to kids of all ages.
Start with a good clear out and then put what’s left into neat storage boxes. If needed give the
walls a fresh coat of paint and lastly the carpets a good shampoo. Hey presto, you’re done!
15. Give the garden a going over.
Your garden can make or break a sale, so give it a good going over. A tidy front garden is vital and if the back garden has become a bit of a jungle then it needs to be tamed. You
don’t need to spend much money, you just need to spend a bit of time. Mow the lawns, cut back trees and prune bushes to create more space. Sweep up the leaves and arrange any
garden furniture so it looks like it is used. Add a few potted plants to any paved areas. And if you’re lucky enough to have a well-kept garden, then sell your home when it’s in full bloom.
16. Put away your pets.
No one wants to say goodbye to the family pet, but you also don’t want a potential buyer put off because they are allergic to cats or because your home reeks of ‘Pooch Perfume’. So
while selling consider putting them in kennels, sending them on holidays with friends or at least restricting them to an area of the house or garden. Then clean the carpets and furniture
carefully to remove any animal hair. And if someone is coming to view the house, then it’s a good time to send the dog for a walk and the cat for a play outside.
17. When all is done, give it another once over.
You’ve cleaned the house from top to bottom, the hallway has been painted, the lights are on and the dog is on his holidays. But, even after you’ve done all this and you think your house
is ready for sale, stop! Grab your agent and walk through your home from top to bottom and see if anything stands out. It might be a dirty window, a room in need of air or a piece of
furniture your heart hasn’t let go. Often a fresh eye is all it takes!
18. It’s your estate agents job to sell your home, so let them!
You know your home inside and out but estate agents know buyers. And Real Estate Alliance members know them better than most. With decades of experience in both buying and
selling homes you can count on them to know what to say and when to say it. You’re paying for their expertise, so when a potential buyer wants to talk price or terms, defer to experience
and let your agent deal with it. Your job is to get your home ready for sale, it’s your agents job to sell it.


Monday, 13 April 2015

Successful Auction held in Carrick on Shannon last week

REA Brady in Carrick on Shannon held two auctions covering 4 agricultural properties on Friday last. Of keen local interest were two properties at Cootehall and one at Croghan. The Auction was held in the Bush Hotel and was very well attended. Proceedings started with a lot of 17.5 Acres at Derrylow, Croghan. Bidding started slowly with the Auctioneer being worked hard to successfully get things moving. Following this slow start matters progressed in bids of €10,000  from €70,000 to €120,000. Following a short recess the property was placed “On the Market” and bidding advanced in bids of  €2000 before concluding at €126,000. The land was purchased by an adjoining land owner and was well received with a loud applause by those attending.

The second lot was 31 Acres of land at Clegna, Cootehall. The bidding on this was quite extraordinary with the winning bidder coming in with a very strong first bid of €180,000. This proved to be effective in knocking out his competition. The property was promptly placed “on the market” and no further competition emerged.

The last lot was 17.3 Acres at Knockadaff,  Cootehall. There was brisk competition for this lot. Bidding started at €100,000 and quickly progressed to €110,000. It then went up in €5000 bids (tit for tat) to €135,000. The reserve having been exceeded it was put on the market and received five further bids bringing the final price to €140,000. The successful bidder was from the Locality.

The last Auction was held in Longford later in the afternoon and was for 31 Acres at Drumbawn, Ardagh, Co. Longford. This was a farm of mixed quality with some good land and portions of lesser quality. This portion achieved €135,000 following competition between a forestry buyer and a local investor.

REA Brady now have contact from several parties who were unsuccessful at these Auctions, whom are funded and wish to acquire land. If you wish to sell your lands, call Joe Brady at REA Brady at 0719622444

Monday, 23 March 2015

UK-based buying boom in Ireland is gathering pace thanks to the strength of sterling

The UK-based buying boom in Ireland is gathering pace thanks to the strength of sterling, according to Real Estate Alliance who held a successful Irish Property Exhibition in London last weekend.
REA members were delighted with the success of the Campaign promoting the exhibition at the Millennium Gloucester Hotel and Conference Centre in central London. The campaign attracted a large volume of inquiries in advance, during and post with over 90% of whom were potential cash purchasers.
“Our agents were really pleased to talk with so many quality cash buyers over the course of the campaign 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 survey of REA members shows that enquiries from the UK have increased by 13% on average to agents outside of Dublin in the past two months.
And there has been a corresponding 25% annual increase in enquiries about Real Estate Alliance properties listed on top UK site rightmove.co.uk.
 “Conversations with attendees showed that the vast majority of them were committed to buying in Ireland, with over half of them aiming to spend between €100,000 and €200,000,” said Philip Farrell.
“The average UK home now costs €236,635 whereas in Ireland it is close to €180,000, and the strength of sterling is magnifying this.
“UK buyer interest is manifesting itself differently to the existing Irish market in a number of ways, with big surges in interest in many undervalued rural counties and also scenic and coastal locations.
“This presents many vendors with the opportunity of achieving better prices due to interest outside of the normal marketplace.
“Rural properties in the UK cost an average of €67,000 more than urban properties – quite the opposite of the Irish market.
“UK buyers are being priced out of rural properties in their own country, so for many their only chance of an ‘escape to the country’ is a move to our country.
“We are also seeing interest from UK investors who are priced out of their own market and feel that they have reached the top of their curve and are looking for capital growth and yield in Ireland.” Their partner at the event included Smart Currency http://www.smartcurrencyexchange.com/
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.

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  

Thursday, 19 March 2015

Quality Properties For Sale by Public Auction through REA Seamus Carthy

Seamus Carthy of REA Seamus Carthy with offices in Roscommon Town and Castlerea Town is holding an auction with mulitple properties on the 17th of April. All with very Keen Reserves ranging from €20,000 - €55,000,  the Public Auction will be held in Carthys Bar & Guesthouse, Castle Street, Roscommon Town on Friday 17th April at 3 pm sharp
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The deposit payable is 10% of purchase price. If you are an Irish resident this is payable by way of cheque or bank draft drawn on an Irish bank and made payable to REA Seamus Carthy. If you are a non-resident, it is payable by Euro bank draft only drawn on an Irish bank. In the event that a cheque presented for a deposit is returned unpaid, the purchaser will make themselves liable to legal proceedings in relation to the unpaid cheque and the balance of the purchase proceeds. It shall not be permissible to pay a deposit by cash.  No credit/debit card facilities will be available. 

Deposits will be held by REA Seamus Carthy and not the Vendors Solicitor.

Quality Properties For Sale by Public Auction through REA Seamus Carthy

Seamus Carthy of REA Seamus Carthy with offices in Roscommon Town and Castlerea Town, announces the upcoming Sale of a number of Quality Residential Properties by Public Auction.   All with very Keen Reserves ranging from €20,000 - €55,000,  the Public Auction will be held in Carthys Bar & Guesthouse, Castle Street, Roscommon Town on Friday 17th April at 3 pm sharp. The Instructions received from Private Vendors Offer excellent opportunities for owner occupiers/investors/Developers and the mix of opportunities start with Lot 1, an excellently located 3 bedroom Terraced House, currently rented (vacant possession available) in the heart of Castlerea Town close to all amenities at 13 Arm opposite Castlerea Golf Club in a small cul de sac setting.  Comprising of 3 bedrooms, a bathroom, Kitchen and Living, the said property has gardens to front and rear and a Fuel store.  The Reserve for Lot 1 is €20,000 (Twenty Thousand Euro). Lot 2 is a 4 Bedroom Detached Residence situated on a most prime site in the sought after and mature Residential Setting of Knockroe.  No. 6 Knockroe, comprises of 4 Bedrooms, 2 Reception Rooms, Kitchen, Bathroom and W.C and with Well Presented Homes selling in the area for €140,000 - €150,000, the said properties Reserve of €55,000 (Fifty Five Thousand) offers another quality opportunity to the marketplace.  Lot 3 is a former Nursing Home with 7 bedrooms situated in a high profile location within Castlerea Town on the Castlerea/Tulsk Road.  Suitable to a variety of uses both Residential and Commercial, the Properties position is considered to be situated on a most prime site/location.  The Reserve is €45,000 (Forty Five Thousand).  Lot 4 is a 3 bedroom Detached Bungalow that was in the process of remodernisation on 1.82 Acres situated at Arm Cashel.  The said properties offers enormous potential with the main Town Sewer running alongside the property.  Reserve is €40,000 (Forty Thousand Euro).  Lot 5, adjoins and is the Town side of Lot 4 and consists of a 3 Bedroom Detached Bungalow (Currently Rented - Vacant Possession Available) on 1.53 Acres.  Again Potential is obvious.  Reserve is €40,000 (Forty Thousand Euro).  Lot 6 consists of a new build unfinished 3 Bedroom Bungalow situated on the outskirts of Ballyleague Village in the direction of Roscommon Town.  Quality Location on a .56 Acre site.  Reserve is €40,000.  The Final Lot is Lot 7 and will be of interest to the Investor/Developer.  Comprising 10, 11, & 12 Hanley Avenue, these 3 Semi Detached Homes will be Sold as one Lot.  No 10: Relatively Complete and Previously Occupied. No 11: Incomplete (Internal Layout Complete). No 12: Incomplete (First Floor is Open Plan) Hanley Avenue is A Small Housing Development of only 12 Houses situated in the heart of Loughglynn Village.  With a recent Sale of a Semi Detached Home in the Coillte Bo Development within Loughglynn of €46,000, the Reserve set for the entire 3 Houses as one lot is €50,000.  (Fifty Thousand Euro).  For further details contact REA Seamus Carthy – Roscommon Office 090 6630001, Castlerea Office 094 96 25990 or info@reacarthy.ie. 

Monday, 16 March 2015

Ballintotty - Nenagh Auction Result 100% Success, 5 out of 5 lots sold.

REA Eoin Dillon of Nenagh offered a residential farm for sale by public auction at Ballintotty, Nenagh, Co. Tipperary.  There was a large crowd in attendance at the Abbey Court Hotel and the late comers had to avail of standing room only with many observers choosing to observe from the hall outside the room.  The crowd was no doubt helped by the inclement weather on the afternoon with little opportunity for ploughing or spreading slurry. 
The property was offered for sale in 6 different lots. Lot 1 was a parcel of 19.13 acres (7.742 hectares), of which 6 acres were planted in trees since 2001 and the remainder of approximately 13 acres was reasonable quality grass lands.  The agent started seeking bids of €130,000 and dropped in increments of €10,000 to €100,000 where a local farmer opened the bidding, this was quickly followed by a local solicitor who offered €105,000 and they exchanged bids of €5,000, to €115,000.  At this stage the auctioneer announced that the property was not on the market yet but was close to the reserve and the lot was parked while they offered the next few lots.  Lot 2 was 7.5 acres and comprised of 6 acres of forestry and 1.5 acres of poor quality grass land.  The agent sought bids of €30,000, €25,000 and €20,000. There were no bids and accordingly they quickly moved on to lot 3.  Lot 3 comprised of 14.853 hectares (36.7 acres) of forestry, again €130,000 was sought and the agent went down in €5,000 segments seeking an opening bid.  An opening bid of €110,000 was then received from a solicitor acting in trust, there were no further bidders for this section and a short break was taken to discuss the first 3 lots with the vendor. 
On resuming the auction the auctioneer announced that we were €5,000 away from being able to put Lot 1 on the market and a bid of €120,000 was quickly received from a local auctioneer acting in trust and the land was officially placed on the market.  The solicitor duly obliged and offered €125,000 before the land was knocked down to him acting in trust for a young local farmer. 
Lot 4 comprised of the house on 7 acres (to include approximately 6 acres of forestry) again an opening offer of €130,000 was sought and the agent worked the room seeking bids before an opening offer of €90,000 was received from a young couple.  A second young couple then entered the race and the property quickly climbed in bids of €5,000 to €130,000.  As lots 4 and 5 were also being offered as a joint lot (Lot 6) this offer was parked while the agent offered lot 5.  Lot 5 was a single stubble field comprising of approximately 40 acres of what can only be described as very good land with excellent road frontage.  It was clear from the off that this was what everybody was interested in.  The Agent sought offers at €450,000 and went down in €10,000 to €350,000 before an opening bid of €350,000 was made by a local solicitor acting in trust for a local farmer.  A second bidder quickly emerged in the form of another local solicitor again acting for a local farmer.  In fact the two solicitors were from the same local firm acting for two separate clients. They quickly traded bids of €10,000 to €440,000 and then in €5,000 increments to €470,000 with no one else in the room getting a sniff of the action.  The biding stopped at €470,000 and the agent offered lot 6 for sale (Lot 6 was lot 4 and 5 combined).  Having a combined bid of €600,000 the auctioneer sought an opening offer of €605,000 there were no takers and after a very short break the agent came back and announced that he had instructions to put lot 4 the residence on 6.7 acres on the market at €130,000.  There were no further bidders and the lot was knocked down to the highest bidder at €130,000.  The Auctioneer Eoin Dillon then announced that he was also happy to say that Lot 5 was on the market at €470,000.  The bids then came fast and furious rising to €475,000, €480,000, €482,500, €485,000, €487,500, €490,000 €492,500, €495,000, €500,000, €502,500, €505,000, €510,000, €515,000, €520,000, €525,000, €530,000 before the final bid of €535,000 was received from a solicitor acting in trust or a local farmer.  The sale represented an extremely good price of just over €13,000 per acre.  Immediately after the auction offers were made by a number of parties for the remaining two lots and both were sold at what is believed to be at or very close to their original asking price and the auction contracts were signed. 

Speaking after the auction the selling agent Eoin Dillon said that he was delighted with the result, two hours previously he would have been delighted with if 3 out of the 5 lots were sold but to get all 5 lots sold on the day was incredible.  The prices for the lots were bang on what was expected with the main tillage field making the higher end of everybody’s expectations.  It just shows that where you have good land in a good location there is always a market for it.  It was also great to see that the purchasers of all 5 lots were hard working local persons seeking to expand their holdings and a in the case of the residence to set up a new family home.

Monday, 9 March 2015

REA Sothern hold property Auction on the 2nd of April at the Seven Oaks Hotel, Carlow

REA Sothern are holding a property auction for 6 lots on the 2nd of April at the Seven Oaks Hotel, Carlow at 3pm. 
  • All sites form part of the successful Castle Oaks development with over 80 residential units sold to date.
  • On the Dublin side of Carlow, just 5 minutes drive to the M9 motorway and 50 minutes from Newlands Cross.
  • Connections available to all services including gas, water, sewerage etc
  • Solicitor: Paul O’Brien, McMahon O’Brien Tynan, Henry St, Limerick
This is a great opportunity for builders/developers/investors to purchase development sites in Castle Oaks, either for owner occupier use, (lots 5 & 6) or for current/future development, (lots 1, 2 & 4).
As the Carlow market continues to recover, values on the Dublin side of town are showing the greatest improvement due to the excellent road network to Dublin/Waterford, giving home owners a commutable option.  Castle Oaks once boasted the highest priced semi-detached and detached houses of any mixed development in Carlow.
Contact REA Sothern on 059 9131218 or www.reasothern.ie
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