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Monday, November 2, 2009
Windfall Tax will have a devasting effect on the market.
REA agents think the proposed 80% windfall tax will have a devastating effect on the Market for one off sites as well as for any proposed sale of land in the future close to towns/cities which could be developed.
Many people through no fault of their own have land close to towns frozen for proposed by-passes for 10 + years and now that could be subject to the 80% tax. They could have sold or developed it if it was not frozen.
As sure as night follows day, we will slowly come out of this recession and if the 80% tax stays it will drive up the price of houses again because land will not be released for sale because of punitive taxes.
The 40% capital gains tax of the 1980’s and early 90’s prevented the release of land for development so we can only speculate what will happen if the 80% windfall tax is introduced.
Many people through no fault of their own have land close to towns frozen for proposed by-passes for 10 + years and now that could be subject to the 80% tax. They could have sold or developed it if it was not frozen.
As sure as night follows day, we will slowly come out of this recession and if the 80% tax stays it will drive up the price of houses again because land will not be released for sale because of punitive taxes.
The 40% capital gains tax of the 1980’s and early 90’s prevented the release of land for development so we can only speculate what will happen if the 80% windfall tax is introduced.
Hynes believes the worst in over and things are straightening out
"We've seen a steady improvement in house sales since the start of this year, particularly since last August and September," said Hynes. "Confidence is a bit better. People realise there's value to be had out there. Sales are thousands of times better than this time last year."
Hynes believes the property market went into recession about a year before the rest of the economy, and is more likely to recover before other sectors. "There is an upturn slowly coming through," said Hynes. "The worst of the downturn is gone."
Hynes believes the property market went into recession about a year before the rest of the economy, and is more likely to recover before other sectors. "There is an upturn slowly coming through," said Hynes. "The worst of the downturn is gone."
Monday, October 12, 2009
September activity increased slightly
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 Green 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.
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 Green 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.
Monday, October 5, 2009
Has the economy paused your Redecorating plans?
Fear not, 10 Top “R” Tips to transform your home from the doom and gloom during this Recession.
In today’s economic downturn, cost cutting and drastic budgeting, all plans to redecorate our homes are put on the back burner for the time being. Just The thought of redecorating our home sounds crazy! In reality, redecorating our homes doesn’t need to cost a lot. All you need to do is plan wisely.
Make a plan today, pick a paint colour or throw out those old pictures that are fading. Piece by piece, you'll get into the groove of turning the house into your designer home! Read more on NEWS section
In today’s economic downturn, cost cutting and drastic budgeting, all plans to redecorate our homes are put on the back burner for the time being. Just The thought of redecorating our home sounds crazy! In reality, redecorating our homes doesn’t need to cost a lot. All you need to do is plan wisely.
Make a plan today, pick a paint colour or throw out those old pictures that are fading. Piece by piece, you'll get into the groove of turning the house into your designer home! Read more on NEWS section
Traffic up 30% on website since August
On our google analytics, we have noticed an increase in traffic to both our websites. Traffic is up by 30% on last month's traffic
Tuesday, July 7, 2009
REA agrees a further 150 house sales in May
THE Real Estate Alliance Group agreed a further 150 house sales nationwide last month. But enquiry and viewing levels tailed off a little.
While sales agreed matched the previous month, the latest REA Property Barometer for the month of May shows that finalising deals remains a slow process with the figure for contracts signed at 114. REA chief executive Eimer O'Keefe reports that 4,000 enquiries were processed by the 38 group member firms around the country last month -- down five pc. The total number of viewings was down three pc at 1,350.
Ms O'Keefe noted that the level of enquiries are back to March levels, but pointed out that activity traditionally slows during the summer months.
While sales agreed matched the previous month, the latest REA Property Barometer for the month of May shows that finalising deals remains a slow process with the figure for contracts signed at 114. REA chief executive Eimer O'Keefe reports that 4,000 enquiries were processed by the 38 group member firms around the country last month -- down five pc. The total number of viewings was down three pc at 1,350.
Ms O'Keefe noted that the level of enquiries are back to March levels, but pointed out that activity traditionally slows during the summer months.
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