Real Estate Alliance

Real Estate Alliance report on property activity for the month of September

PRESS RELEASE 12th of September 2009

Real Estate Alliance report on property activity for the month of September.

National Property Group, Real Estate Alliance report slightly increased buying activity around the country in September, mainly among first time Buyers.

REA’s Barometer of members shows 34 offices reports that 171 sales were agreed in September. This compared to 150 in March and 164 in April, spring months which provide comparative activity periods.

Of the latest sales agreed, 114 were for second-hand properties and 57 for new properties. According to CEO Eimer O’Keeffe, second-hand homes fared better because they tended to be in better locations. “However, it all comes down to price. The vendor for a second-hand property can be keener to lower its price to move into their new home so there is a lot of room here for negotiation”, she said.

The total number of enquiries recorded by the 38 Estate Agencies within the group was 4560, an average of 120 per month. This demonstrates a 15pc increase compared to March 2009.

In terms of contracts signed, REA can report a total number of 165 contracts signed for September divided between 76 second-hand homes and 89 new homes. Ms O’Keeffe added; “There seems to be a positive shift with more viewers looking to buy, all under the €250,000 bracket. There is a marked improvement in activity in South West County Dublin. “Our agents in Rathfarnham, Orchard REA reported a 20pc increase in enquiries, five sale agreed and four contracts signed in September. According to Kevin Riney of Orchard REA, “prices are down by 50% and buyers know there is good value”.

Jeanne Walshe of Cumisky REA said the Balbriggan second-hand market is quite slow with properties priced above €200,000 experiencing difficulty. She said, “Purchasers have a huge range of options at great value and schemes such as Dun Saithne Greem sold quite fast. Two bed there from €128,000 and three beds from €140,000 sold out in less than two weeks, with only four mid terrace units available.

Real Estate Alliance is a national property group combining real local knowledge with the commitment of Ireland’s most highly qualified and experienced property professionals. 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. www.realestatealliance.ie

ENDS

Further information:

Eimer O’Keeffe, Real Estate Alliance 086 8249040 eimer@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.