Dundalk surveyor takes his place on national board
A Dundalk Chartered Surveyor has been appointed to the board of national estate agency group Real Estate Alliance (REA).
Michael Gunne of REA Gunne Property in Dundalk was appointed at REA’s AGM in Dungarvan last week where Frank Daly, Chairman of NAMA, addressed the meeting on the future direction of NAMA and the current housing supply shortage.
Real Estate Alliance (REA) members are reporting a marked increase in sales activity across the country and not just in the major cities but also in provincial towns, the group’s AGM heard this week.
‘While Dublin and the commuter areas are starting to re- cover from the stagnation caused by the Central Bank’s mortgage deposit restrictions, the biggest rise in activity is being seen in Ireland’s smaller urban towns where the deposit requirement is not as significant,’ said Michael.
‘ Throughout the country, REA agents are seeing a definite rise in enquiries, with demand increasing further in quarter four,
‘Our REA Average House Price survey saw the average threebed semi rise above €200,000 in 2016 – this level of return is now providing as a catalyst to get dormant developers returning to the market with much-needed supply.’
Time taken to sell has reduced by two weeks to five weeks in country areas in the three months to the end of September and there is a definite increase in mortgage approvals.
‘ The Central Bank mortgage deposit rules did not hit the country market as hard as the larger cities as the amount of the deposit required is less.
For the first time in eight years, the majority of our offices are seeing builders looking for development land across Ireland.’
‘As well as available finance having a major impact on housing supply, a second hurdle is the provision of serviced land, and although buyers are now more plentiful the problem of supply remains.’