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REA AGM November 2019

REA members across Ireland gathered together for the 2019 Annual General Meeting at the Castleknock Hotel on Friday.

REA AGM 2019

 

Online Auction October 19

Excellent result on the 10th October for the REA Online Auction 🏠💻📱                                                                                                                                    

20 Properties sold!

Check results here

REA Average House Price Survey Q3 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.

 

REA Average House Price Survey Q3 2019

Online Auction July 2019     

Fantastic result on the 31st July for the REA Online Auction 🏠💻📱                                                                                                                                    

25 Properties sold!

 

 

Tenanted homes among 33 lots for REA Online Auction

Dublin tenanted residential properties, as well as groups of vacant apartments in Waterford City and Shannon Town, are among the 33 lots with combined guide prices of more than €4m which will be offered by Real Estate Alliance agents in their online auction on July 31.

The most valuable lot is a tenanted four-bedroom, semi-detached house at 166 Ballymun Road, Ballymun, Dublin 9 which has a €270,000 AMV. Located near the Glasnevin end of the road and about 500m from Dublin City University, it comes with a rear garage converted into a self-contained dwelling and the attic of the house has also been converted. The agent could not confirm the rental income.

Another tenanted unit at 1 The Crescent Carrickmines Manor, Dublin 18 has a €210,000 AMV and with annual rent of €6,000, this equates to a gross yield of less than 2.9pc. Well presented, the two-bedroom apartment extends to 754 sq ft.

The Shannon apartments are at 31, 100 and 101 Bru na Sionna and consist of one first floor, two-bedroom 70 sq m unit and two three-bedroom units of about 90 sq m each in Block A and block D. The combined AMV for the three is €175,000.

In Waterford, three apartments at The Courtyard, Summerhill Terrace are being sold individually with a guide price of €80,000 each. Located in a three-block complex, all have two bedrooms. Apartments 27 and 30 are on the ground floor and Apartment 33 is on the first floor.

A potential investment property overlooking Dunmanus Bay, Goleen in West Cork has a €175,000 guide price. Set on 7.5 acres, this detached four-bedroom house was specifically designed for holiday lettings and its outbuildings offer prospects for further development.

In the north Dublin seaside town of Skerries, a three-bedroom bungalow has a €240,000 guide price.

Known as Hazel Cottage, 6 The Square, its accommodation extends to 65 sq m and includes open plan kitchen/living area.

Source: Donal Buckley, Irish Independent. 18/07/2019

REA Average House Price Survey Q2 2019

The price of the average three-bed semi in Waterford City rose by 2.4% over the last three months, while prices in the county rose by 0.8%, according to a national survey carried out by Real Estate Alliance.
Waterford City prices rose by 7.5% to €215,000 this year, while prices in the county rose by 1.7% to €178,000, 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.
“We are seeing good demand for second-hand houses from first time buyers due to shortage of new stock,” said Des O’Shea of REA O’Shea O’Toole in Waterford City.
According to Eamonn Spratt of REA Spratt, Dungarvan, “the market has started to quieten slowly due to a combination of the summer season and commentary on Brexit.”
The time for an average three-bed semi in Waterford City to reach sale agreed rose from four weeks to eight this quarter, while properties in Dungarvan remained at nine weeks.
The average semi-detached house nationally now costs €236,028, the Q2 REA Average House Price Survey has found – a rise of 0.05% on the Q1 2019 figure of €235,898.
Overall, the average house price across the country rose by 1.54% over the past year – a decrease on the 2.96% recorded to March and an indication that the market is continuing to steady after an 8% overall annual rise to June 2018.
Dublin City second hand property prices decreased by an average of €4,500 in the past three months, registering a second consecutive quarter fall (-1%) since the end of March, and -2.2% compared to June 2018.
The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €433,000.
“Wherever we have new homes on the market, they are definitely having an effect on prices in the existing market as they operate in their own price structure, with buyers prepared to pay a premium for A-rated properties,” said REA spokesperson Barry McDonald.
Prices rallied slightly by 0.1% in the commuter counties in the last three months, with the average house now selling for €249,167 – an annual rise of 1.17%.
The increased availability of new homes has had a suppressing effect on prices in some commuter areas such as Kildare, North Wicklow and Meath.
Prices in the country’s major cities outside Dublin were relatively static with agents in Galway and Limerick reporting no change due to an increase in supply and new homes developments.
The highest annual increases (5.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €8,000 in the past year and 1.08% in the past three months to €161,138.

 REA Average House Price Survey Q2 2019

Government approves €5 million funding for Waterford runway extension


The chairman and board of Waterford Airport, Dan Browne, has warmly welcomed the announcement of funding approval by Government for the lengthening and widening of the airport’s runway.

"This investment will secure the future of Waterford Airport and allow it to compete for international carriers using jet engine aircraft," he said.

Work will commence immediately on progressing the runway extension and a planning application will be lodged for the extension of the northern end and the runway widening. Planning permission is already in place for the extension of the southern end.

Funding from a combination of private investors, local authorities and the Government will deliver the additional infrastructure subject to the agreement of existing airport shareholders at an EGM to be held shortly. The proposal is also subject formal approval by the local authorities in Waterford, Wexford and Kilkenny.

Dan Browne, chairman of Waterford Airport, said: “The extension of the runway at Waterford Airport is a game-changer for the future of Waterford Airport and the southeast region we serve. It represents a departure in regional aviation in Ireland with the private sector and local authorities acting in partnership to bring a new commercial focus to airport operations."

"The investment by the private sector of €5m is also a first in regional aviation in Ireland and the bringing together of aviation and construction expertise in the form of Conor McCarthy of Leadcom Ltd and Noel Frisby of Frisby Construction, along with strong international enterprises from the region in the form of Glanbia, Coolmore Stud, Waterford Distillery, Dawn Meats and Stafford Wholesale represents a new focus on the future commercial viability of the Airport.”

Cllr John Pratt, Mayor of Waterford, also welcomed the announcement: “Waterford, Kilkenny and Wexford local authorities have long argued that a viable regional airport is vital for the region. The funding of the runway extension is a further boost to the momentum being generated in the economy of Waterford and the southeast as a whole."

“We can now look forward to the airport contributing positively to economic activity in the region, through its services to the public and business alike. We especially welcome the contribution the airport can make to inbound tourism and believe the new entity can bring further exposure and access for visitors to the wonderful landscape, heritage assets and  amenities available in this beautiful corner of the world.”

SOURCE: Waterfordlive.ie

Online Auction May 2019

Fantastic result on the 29th May for the REA Online Auction 🏠💻📱                                                                                                                                    

11 Properties sold!

Next Online Auction 26th June!

 

 

 

UK Property Investor Show

UK buying interest in Co Waterford property is growing very strongly, according to Real Estate Alliance, who showcased local properties at a massive property exhibition in London last weekend.
REA agent O’Shea O’Toole was among those who brought local properties to the London Investor Property Show in The ExCel Exhibition Centre, which had an attendance of 7,000 investors.
“The UK market that has increased by 12% over the past year and REA were the sole Irish exhibitors at this influential expo,” said Des O'Shea
Over 74% of estate agents have seen an increase in enquiries from the UK over the past year, a nationwide Brexit property survey carried out by the Real Estate Alliance group has found. UK buyers have money to Invest and are seeking opportunities outside their country.

“Ireland is their closest neighbour, we share a common language and has a property market that UK buyers can easily understand and access.
We saw the greatest demand for investments that yielded 6.5% or better and also from buyers who are seeking Rural Homes who see Ireland
as a viable and affordable option.
We will be hosting viewings for these buyers over the coming weeks and if you have a property that might fall into those categories give us a call on 051 876 757.”

“UK buyers make up 10% of overall enquiries and 6% of sales in the Irish market, with my colleagues in REA reporting an average of 4.3 sales to UK buyers last year.
30% of enquiries to REA agents cite Brexit as a direct reason for clients moving to Ireland while 21% are coming to live and work in Ireland for reasons unrelated to Brexit.Of those, 15% intend to commute to work in the UK, 27% will be working from home for UK companies and 58% will now be working in Ireland – the latter figure an increase of 12% on the previous survey.”
The survey also shows that 23% are buying for eventual or immediate retirement, 8% are investors, 8% are looking for a change in lifestyle,9% are purchasing holiday homes – a market that has been hit by the fall in sterling value and remains unchanged over the past six months.
The typical UK buyer is looking for a rural property (54%) with 66% of people looking for a standalone development.

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.

 

REA Average House Price Survey Q1 2019

The price of the average three-bed semi in County Waterford rose by 2.3% to €176,500 in the past year, according to a national survey carried out by Real Estate Alliance.
Waterford county prices were static in the first three months of 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 average three-bed semi in Waterford city is currently selling for €210,000 and sells in an average of four weeks.


“We are seeing a good demand for properties in Waterford city, but this is being met with a shortage of supply. While we saw 7.69% growth over the past year, that growth has stalled this quarter,” said Des O’Shea of REA O’Shea O’Toole.

“Throughout the county, we have seen a drop-off in the supply of second-hand homes coming to market compared to this time last year, and the average time to sell has increased this quarter from eight weeks to nine,” said Eamonn Spratt of REA Spratt Dungarvan, where a three-bed semi is currently averaging €176,500.

“Encouragingly, it does seem that there is increased competition by banks for new mortgage business in the marketplace.”

The average semi-detached house nationally now costs €235,898, the Q1 REA Average House Price Survey has found – a fall of -0.16% on the Q4 2018 figure of €236,287.
The price of a three-bed semi-detached house in Dublin city has fallen by -1.7% since the end of December, wiping out the average €7,000 gains in value experienced throughout 2018.
The price of the average three-bed semi-detached house in the capital’s postcode districts now stands at €437,500.

“Time taken to reach sale agreed in Dublin is now eight weeks – double that of a year ago – and reflects the difficulties that people are experiencing in obtaining a mortgage,” said REA spokesperson Barry McDonald.

“We are seeing an appreciable drop in people attaining mortgage approval – particularly for properties above €350,000 – which is creating a ceiling that is stifling the market.”

Prices also fell slightly by -0.3% in the commuter counties in the last three months – an annual rise of 2.7% – with the average house now selling for €248,750.
Prices were static in the country’s major cities outside Dublin with agents in Cork, Galway, Limerick and Waterford all reporting no price movements in the opening quarter, but an annual increase of 3.6% to €252,500.
The highest annual increases (6.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €9,400 in the past year and 1.1% in the past three months to €159,433.

Falcon Real Estate Confirms North Quays Development To Start

Waterford North Quays is a project of Falcon Real Estate Development Ireland, A €350m investment, delivering 2,300 full time jobs by 2022
With over 8 hectares, it will be the largest mixed use real estate development in the South East of Ireland

Falcon Real Estate Development Ireland reasserts its commitment to the Waterford North Quays and Michael Street developments and confirms that work on the project is likely to start before the end of the current year. An independent real estate developer and operator, Falcon Real Estate Development Ireland aims to develop a significant quality range of assets, meeting the company’s vision for Waterford to be the “go-to” destination for living, working, shopping and entertainment and is currently focused on the pre-development and planning phases with a view to being site active during the last quarter of 2019.

Waterford North Quays, an eight hectare real estate mixed use scheme, was conferred SDZ (Strategic Development Zone) designation by the Government in 2016. It will comprise a sustainable mix of 46,900 square metres convenience & comparison retail facilities, leisure, dining destinations and a Waterford Visitor Experience. Complementary to the scheme and core to its values of diversity a 200-room Four Star Hotel & Conference Centre, 15,000 square metres prime Office space, and 300 riverside apartments will be delivered in a contemporaneous and phased approach.

Waterford North Quays is set to become one of Ireland’s most modern transport hubs, connecting the site locally and nationally with Rail, Bus, Greenway, Pedestrian and Electric Bus with a link-bridge to Waterford city centre across the River Suir. It will blend carefully planned infrastructure investments with tourism, retail, business and living needs. Visitors will be able to enjoy easy parking, quality restaurants and cafes with over 35,000 square metres of green open space and a riverside promenade and integral part of the recently opened Waterford-Dungarvan Greenway. Falcon Real Estate Development’s vision is to create a new focus for Waterford city and a destination that is firmly integrated with the local community, offering opportunities for living, working and socialising.

The North Quay development will mark a major economic boost for Waterford and the South East Region of Ireland. The total estimated investment is estimated to be €350 million in the development, phased over three to five years. 2,300 full time roles will be created during the development of the new district, with an additional 4,500 indirect jobs. The planned completed integration of the scheme with the existing urban centre of the City, will confirm Waterford as the Gateway City of the South East Region, increasing regional and national visitation, tourism and will serve to reverse regional economic leakage. Combined with the forecasted 2040 population growth of 181,000 people for the South East, the retail market size in the South East is expected to grow from €3.49 billion in 2015 to €6.30 billion in 2025.

SOURCE: Waterfordcouncilnews.com

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