Real Estate Alliance
Rea confirms house sales activity increase
A NEW property "barometer" by Real Estate Alliance confirms that house sales activity has significantly increased nationwide in recent weeks.The Real Estate Alliance Barometer shows that 150 sales were agreed at the 38 REA offices throughout the country in March, with enquiries up 15pc on the month before.
REA chief executive Eimer O'Keefe reports 1,350 viewings in total over the month (35 per office). The average sale price achieved -- €180,000 -- was 90pc of the asking price and the average time it takes for a house to sell is now 20 weeks.
John Cumisky of Cumisky Myler REA in Balbriggan, Co. Dublin comments: "If the price is realistic, then sales occur. He noted an increase of 20% on their inquiries with a total number of 240 calls to the office this month. They have 18 signed contracts for the month of March mainly due to the Rent-to-buy scheme Bremore Pastures way with 16 units sold last weekend. They received 200 inquiries and received over 25 applications.
Donna Hynes of Hynes REA in Athlone says that two types of people are currently in the market: "First time buyer enquiries are up since the banks started their marketing campaigns. And those lucky enough to have sold a house last year are now finding amazing value."
Michael Gavigan from T&J Gavigan REA, Navan reports "when are prices were heavily reduced, there is interest from Buyers. There was huge interest for Athlumney Wood in Navan in Feb and March. We had over 200 viewings and sold 35 new homes in Feb and March. Prices were decreased by 40% from spring 07 prices”.
Paul Grimes of Grimes REA in Ashbourne noted that “the low interest rates are making purchasing a more viable option over renting. During March we have noticed a definite change in attitude amongst a large number of our viewers who now believe it is a good time to start looking. Lower interest rates are having a positive effect and low prices making it more affordable.
Michael McElhinney of McElhinney REA in Bundoran, Co. Donegal reports “Investors are returning to the market for lower priced property”.
Simon Murphy of Murphy REA in Blessington says “Increased activity in the market co-insides with the seasonal pick up in enquiries but it remains to be seen if the welcomed activity translates into solid sales
NOTE TO EDITORS
Real Estate Alliance is a strategic marketing alliance comprising some of the country�s best-established auctioneers and estate agents. Our key focus is on locally-owned and established estate agents. With one quarter of the alliance�s firms in business for more than a century, and with an existing IAVI president & five IAVI past presidents among the group�s members, the alliance is characterised by the established strength of its membership. In addition, membership is only open to firms led by members of the Irish Auctioneers & Valuers Institute or the Society of Chartered Surveyors.
Clients of REA members benefit from:
Real Advice
- Because member firms are locally-rooted and independently owned, they have first-hand market knowledge that ensures clients make only the best-informed real estate decisions.
Real Commitment
- Member firms are well established, leading local businesses built on delivering the best results for their clients.
Real Service
- Our member firms have the detailed understanding of the local property issues facing clients to ensure that they provide a superior range of client services.
Real Professionalism
- As Ireland\'s highest-qualified property professionals, REA sales staff are members of the IAVI or the SCS, the representative bodies for Ireland\'s top property professionals.
Real Confidence
- IAVI members complete far more property transactions than any other professional group. Our member firms harness this transaction volume to seize opportunities and speed the transaction process for you.
Real Coverage
- With more than 400 professional staff in 40 offices located nationwide, our member firms can provide the best real estate advice locally and nationwide.
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