REA

Latest News

Anthony McGee appointed Chairman of REA  25 November 2019

A Tallaght auctioneer has been appointed Chairman of national estate agency group Real Estate Alliance. Anthony McGee is Managing Director of REA McGee and was elected to the position during the Alliance’s AGM in Castleknock last week.

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.

The AGM heard that the State needs to urgently incentivise small investors to stem the tide of private landlords leaving the rental market.



Real Estate Alliance (REA) members are reporting that small private landlords are exiting the market due to a combination of excessive taxation and the legislation involved in renting a house, which they find it difficult to deal with.

The association’s AGM heard that Rent Pressure Zones are not working with rents continuing to rise and available stock spiralling downwards.

“There are very new small private investors coming into the market, and society needs this sector to provide rental accommodation,” said Mr McGee.

“When you add up taxation and stealth taxes, agency fees, management fees and insurance there is no incentive for private landlords to remain in the market.

“What we are seeing are brow-beaten landlords who are exiting the market when they reach a point of equity parity in a property.

“The regulations are heavily biased in favour of institutional investors, which is why you see build to rents happening at the moment.

“There may be a feeling that with rents at an all-time high, that small investors are making money, but when they do the numbers and look at the taxation they are paying, many are deciding that it is not worth their while staying involved.

“It is doubtful whether the Rent Pressure Zones are actually working because we are seeing rents climbing far in excess of 4% per annum due to a severe shortage of rental properties.

“We are seeing instances where adjoining properties are renting for vastly different sums, and in our experience, some landlords are now finding it difficult to pay their mortgages.

“It is economically unfair that investors whose property becomes vacant cannot charge more than a 4% increase on the previous rent – even if it was set to an historically low level.

“The market is not functioning normally because tenants are renting places for a lot longer than they originally planned for due to the difficulties in raising the deposit for a property.

“As tenants struggle to pay the rent, wages are forced up and this is eroding the competitiveness of the economy – with many workers n ow leaving Ireland for other countries as they are finding it too expensive to live here.

“We need to take a new look at the rental problem – incentivise landlords and bring in measures to get people out of rental properties and into mortgages.

“Banks should be able to take into account that someone who has been paying €2,000 a month for the past ten years should qualify for a mortgage.”

New REA board: Chair: Anthony McGee (REA McGee, Tallaght), Des O'Shea (REA O'Shea O'Toole, Waterford), Michael O'Donoghue (REA O'Donoghue & Clarke, Cork), Seamus Browne (REA Seamus Browne, Roscrea), Robert McGreal (REA McGreal Burke, Galway), John Stokes (REA Stokes & Quirke, Clonmel), Matthew Conry (REA Dawson, Tullow), Karl Tracey (REA Forkin, Bray).


Ends


Available for interview: Anthony McGee, Chairman, Real Estate Alliance, anthony@reamcgee.ie or chairman@rea.ie 087 2799332


Media enquiries: Darren Hughes, MediaConsult, Darren@mediaconsult.ie, 086 293 7037

Picture enclosed:

Sample caption:


New REA board chair Anthony McGee (REA McGee, Tallaght) at the REA AGM 2019

Q3 House Prices County Wexford  10 October 2019

The price of the average three-bed semi in County Wexford fell by 2.7% to €180,000 over the past three months, according to a national survey carried out by Real Estate Alliance.

Wexford prices also fell by 2.7% overall this year, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“The market is in a period of stabilisation after numerous quarters of growth,” said Robert McCormack of REA McCormack Corish in Wexford Town.

“Supply has increased, and demand is stable. We are seeing that Brexit is having a negative effect on sentiment.”

The price of the average three-bed semi-detached house in Wexford town fell this quarter by 2.7% to €180,000, and the average time on the market remained unchanged at six weeks.
“Prices remain stable in North Wexford. There is currently a limited supply of starter homes on the market, and many buyers are currently holding off buying due to Brexit. Well-presented properties are selling quickly,” said Winston Halnon of REA Halnon, Gorey.
The price for the average three-bed semi-detached house in Gorey remained unchanged this quarter at €225,000, and time on the market rose from six weeks to eight.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends


Available for interview:
Robert McCormack, REA McCormack Corish, 086 832 2207
Winston Halnon, REA Halnon, 087 237 6550

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie



Q3 House Prices County Westmeath  10 October 2019

The price of the average three-bed semi in County Westmeath rose by 2.6% over the past three months the REA Average House Price Survey has found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“A large volume of our properties is being sold to owner occupiers this quarter,” said Donna Hynes of REA Hynes, Athlone.
“We are seeing that finance now seems to be more readily available to potential buyers.”
The price of an average three-bed semi-detached house in Westmeath rose this quarter to €195,000, and the average time on the market fell from seven weeks to six.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Donna Hynes, REA Hynes, 087 2632295
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Wicklow   10 October 2019

The price of the average three-bed semi in County Wicklow fell by 2% over the past three months, according to a national survey carried out by Real Estate Alliance.
Wicklow prices fell overall by 2.3% to €284,200 over the past year, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“There is a noticeable decrease in viewings and prices achieved over the last quarter in Wicklow Town,” said Matt Forkin of REA Forkin, North Wicklow.
“We feel that this is due to a high volume of new homes in the market, mortgage lending, and purchasers holding off until Brexit is finalised.”
The price of the average three-bed semi-detached house in Wicklow town fell this quarter by 3.1% to €310,000, with time on the market increasing from 10 weeks to 11.
Prices for the average three-bed semi in North Wicklow and Bray fell by 2.8% this quarter to €306,000 and €340,000 respectively, with average time to reach sale agreed rising for both areas from 10 weeks to 11.
Average three-bed semis in Baltinglass were static in price this quarter and are currently on the market at €170,000, with the time taken to sell remaining at 12 weeks.
The price of the average three-bed semi in Blessington also remained unchanged this quarter at €295,000, with the average time to sale standing at six weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:

Simon Murphy, REA Murphy, Baltinglass and Blessington, 087 231 0005
Matt Forkin, REA Forkin, North Wicklow, Wicklow Town and Bray 087 7586920

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Waterford  10 October 2019

The price of the average three-bed semi in Waterford City rose by 4.9% this year while prices in the county rose by 0.8% according to a national survey carried out by Real Estate Alliance.
Over the past three months Waterford prices remained static throughout the county and city areas, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“There is still a shortage of stock in Waterford, but demand has also cooled. This is evident as prices are static. Brexit is definitely having a negative effect,” said Des O’Shea of REA O’Shea O’Toole in Waterford City.
The average three-bed semi-detached house in Waterford city is currently priced at €215,000, and time on the market remains unchanged at eight weeks.

“Activity in the market today is quite patchy. The significant media commentary on Brexit is having a noticeable impact, both on vendors considering bringing a property to the market and on buyers considering purchasing,” said Eamonn Spratt of REA Spratt, Dungarvan.
The average price for a three-bed semi-detached house in Waterford county currently sits at €178,000, with time on the market rising this quarter from nine weeks to 10.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Eamonn Spratt, REA Spratt, 086 2531277
Des O’Shea, REA O’Shea O’Toole, 087 2599976
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Tipperary  10 October 2019

The price of the average three-bed semi in County Tipperary rose by 5% over the past year according to a national survey carried out by Real Estate Alliance.

County Tipperary prices rose by 0.7% to €171,250 over the past three months, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“There was a little nervousness in the market in relation to fears around Brexit this quarter, with a noticeably quiet off-peak season over the summer months,” said Eoin Dillon of REA Eoin Dillon in Nenagh.
“The price of a three-bed semi is still well below the build cost and there is no supply of new homes now or in the foreseeable future. It is also cheaper to pay a mortgage than to rent a house, so purchasers still consider it a good bet to buy.”
Average Nenagh three-bed properties rose by 1.1% in price this quarter and are currently on the market at €177,000. The time taken to sell fell this quarter from six weeks to five.
“The market is static. The uncertainty surrounding Brexit is not helping with the larger rural properties and with land transactions,” said John Stokes of REA Stokes and Quirke in Clonmel.
The price of the average three-bed semi in Clonmel was unchanged this quarter and is currently at €170,000, with the time taken to reach sale agreed rising from six weeks to seven.
“The market slowed quite quickly for the first two months of this quarter, however we have seen a pickup in the past two weeks,” said Seamus Browne of REA Seamus Browne in Roscrea.
Average Roscrea three-bed properties rose in price by 1.88% this quarter and are currently on the market at €163,000. The average time taken to sell increased from eight weeks to 12.
“Properties are taking longer to dispose of due to a degree of uncertainty with Brexit. People are tending towards putting off making a decision,” said James Lee of REA John Lee in Newport.
The price of the average three-bed semi in Newport remained static this quarter at €175,000 with the average time to reach sale agreed rising from five weeks to eight.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Eoin Dillon, REA Eoin Dillon Nenagh, 087 2052716
Seamus Browne, REA Seamus Browne Roscrea, 0872499570
John Stokes, REA Stokes & Quirke Clonmel, 086 8213777
James Lee, REA John Lee Newport, 086 2351221

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Sligo  10 October 2019

The price of the average three-bed semi in County Sligo rose by 9.5% over the past year, according to a national survey carried out by Real Estate Alliance.
County Sligo prices remained static over the past three months at €132,500, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“A property shortage keeps the market buoyant, but Brexit fears prevent any value increases,” said Roger McCarrick of REA McCarrick & Sons in Sligo.
Sligo town prices were static this quarter with three-bed semi-detached houses currently on the market at an average of €170,000, and prices in Tubbercurry also remained unchanged at €95,000.
The average time taken to sell also remained unchanged over the past three months throughout the county at six weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:
Roger McCarrick, REA McCarrick & Sons, 087 6810848
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Roscommon  10 October 2019

The price of the average three-bed semi in County Roscommon rose by 1.8% over the past three months according to a national survey carried out by Real Estate Alliance.
County Roscommon prices rose by 5.5% overall this year to €145,000, the REA Average House Price Survey found.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“What is driving the increase is the affordability factor. Semi-detached homes in Roscommon Town offer great value in a town that is overall performing very well,” said Seamus Carthy of REA Seamus Carthy in Roscommon Town.
The price of an average three-bed semi-detached house in Roscommon town rose by 3.1% this quarter to €165,000, with the average time to reach sale agreed remaining at seven weeks.
Castlerea prices were static this quarter with three-bed semi-detached houses currently on the market at an average of €125,000. The average time taken to sell decreased from 15 weeks to 10.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:
Seamus Carthy, REA Seamus Carthy 086 8035538

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House Prices County Offaly  10 October 2019

The price of the average three-bed semi in County Offaly has remained unchanged over the past year, according to a national survey carried out by Real Estate Alliance.
The average price of a three-bed semi-detached house in Offaly remained at €180,000 this quarter and the average time to reach sale agreed rose from six weeks to seven, the REA Average House Price Survey found.
The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“There is a lot of uncertainty surrounding Brexit, and the surrounding talk of prices falling is not helping the market,” said Aidan Heffernan of REA Heffernan in Tullamore.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

ENDS

Available for interview:
Aidan Heffernan, REA Heffernan, 086 224 6620
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie

Q3 House prices County Monaghan  10 October 2019

The price of the average three-bed semi in County Monaghan rose by 1.1% to €178,000 in the past year, according to a national survey carried out by Real Estate Alliance.

Monaghan prices were static over the past three months, the REA Average House Price Survey found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“House prices rates remained static this quarter, primarily due to an increased level of supply,” said Dermot Conlon of REA Gunne Property in Carrickmacross.
“The uncertainty currently relating to Brexit also factors when considering the current state of the market.”
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.

Ends

Available for interview:
Dermot Conlon, REA Gunne Property, Carrickmacross 087 6787098

Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie



Message from Winner of REA person of the year. 

Eoin Dillon 
REA Eoin Dillon

Under the REA banner, our clients have access to a national network with an international dimension, and we have recently linked up with the UK’s largest property website www.rightmove.co.uk, who now list our properties directly to overseas buyers.

We move people not just property.

Eimer O'Keeffe, Marketing Manager REA