Real Estate Alliance

REAL ESTATE ALLIANCE MEMBERS REGISTER €1.4BN IN RESIDENTIAL SALES IN 2005

Real Estate Alliance, Ireland's leading group of auctioneers and estate agents, registered in excess of €1.4bn in house sales in the first six months of 2005 - and so many launches in New Homes between now and December will send that total turnover soaring through the €2.5bn mark.

Over 2,500 new homes were sold between January and June, representing a group turnover in the sector of over €590m. The group also sold over 2,300 secondhand homes for a turnover of €860m.

Real Estate Alliance agents currently have 110 new home developments on the market and another 44 new phases will be released in the September/October season. The group is projecting the sale of more than 2,300 additional new homes from September to December, the projected value of which exceeds €600m.

There have been record new Home sales this year. Coonan Real Estate Alliance in Maynooth sold 414 units in the six months to June, worth in excess of €125m - and the agency expects to sell a further 650 units through the 10 new home developments it currently has available & new phases due for launch this season.

"It is encouraging to see that first-time buyers accounted for a large volume of sales of new homes, on average about 50pc," said Philip Farrell, chairman of Real Estate Alliance.

"This is particularly evident in Meath, Roscommon and Kildare, where between 50 and 60pc of new homes are bought by first-time buyers.

"The first-time market is exhibiting all the positive attributes of increased stability - supply is increasing, price inflation is moderating and rental levels are stabilising, all of which is positive news for the industry and, indeed, for the economy."

According to board member Aine Myler of Cumisky Real Estate Alliance, Balbriggan, "Although Real Estate Alliance is reporting that the investor market is down 10pc on last year, the sector remains very buoyant for its members."

A survey of the group�s 40 locations reveals that investors comprise 20pc of the market. The figures vary by county, with investors representing 30pc of the market for Brady Real Estate Alliance, Carrick-on-Shannon, and 25pc for Hynes Real Estate Alliance, Athlone.

Buyers trading up represent, on average, 25pc - and retirees account for approximately 5pc of the market.

The average price of a 3 bed semi-detached new home, based on the survey of 40 Real Estate Alliance agents, stands at €236,000. County variations saw average new-home prices were €315,000 in Ashbourne, €300,000 in Maynooth, €300,000 in Killarney, €290,000 in Waterford City, €250 in Kilkenny, €235,000 in Westport,  €240,000 in Drogheda, €230,000 in Navan, €220,000 in Charleville, Co. Cork and in Westport, Co. Mayo and in Athlone and €210,000 in Carlow town & Longford town, €200,00 in Sligo town & in Carrick-on-Shannon, €205,000 in Tralee, €180,000 in Nenagh.

With the selling season about to start again in earnest after the summer lull, there will be an influx of new homes to the marketplace. Real Estate Alliance agents will be on hand to offer the best possible advice and support.

Coyne & Culloty Real Estate Alliance in Killarney has recently launched its latest residential development on a magnificent site on Countess Road, Killarney, now known as �Avenue�. The selection of 103 units includes two-bed apartments, three-bed penthouses and four-bed duplex penthouses, some of which are up to 132sq metres in area. The two-bed apartments start at €319,000.

Sothern Real Estate Alliance in Carlow has launched 140 new homes in Crossneen Manor, Graiguecullen, Carlow, including three-bed mid- and end-terrace, three-bed semi, four-bed semi and four-bed detached. The three-bed semis start at €210,000.

Grimes Real Estate Alliance, Ashbourne, is launching phase three of Downstown Manor at Duleek on September 17. Units consist of three-bed semi-detached and two- and three-bed end of terrace units.

Eoin Dillon & Associates Real Estate Alliance in Nenagh recently launched the final phase of Pallas Derg, Newtown, Nenagh, comprising eight townhouses and four large detached houses.

Lyons Real Estate Alliance in Charleville. Co. Cork, is launching a new development in the town comprising 91 houses and a cr�che.

O�Brien Collins Real Estate Alliance, Drogheda, is launching a new scheme of 48 apartments on Donore Road in October.

T&J Gavigan Real Estate Alliance in Navan and Kells is launching new phases in The Glebe and The Cairns in Kells, Athlumney Wood and Academy Square in Navan, and Corballis Demesne in Ratoath.

Boyd�s Real Estate Alliance in Kilkenny has recently launched Ayrfield on the Granges Road in Kilkenny. The development comprises superior two- three-, four- and five-bed homes, priced between €213,500 and €699,950.

Coonan Real Estate Alliance in Maynooth is launching first, second and final phases in a range of apartments and houses in various developments in Co. Kildare and Co. Meath, including new and second phase properties at Rybrook, Kilcock; Ellistown, Kildare; and Griffin Rath, Maynooth; and second phases at Straffan Wood, Maynooth; Hazelhatch Park, Celbridge; Louise Park, Leixlip; Lyreen Manor, Maynooth; and Seagrave ark in ratoath, Co. Meath.

Top tips on buying a new home are available by emailing info@realestatealliance.ie

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.