Home Brokers

Bank of England has has the base rate at 0.5%  for the 12 month in a row.

No such luck for Irish mortgages holders with AIB who announced yesterday a rate increase was unavoidable.

http://www.irishtimes.com/newspaper/ireland/2010/0304/1224265559360.html

We found this very useful report suppplied by Irish Property Watch (IPW)

This report is over the period, from the 2010-02-13 to the 2010-02-27.

The drops per day was 175 down from 216.

There were 2,444 drops and the average drop was €41,763 .
Over the same period there were 118 increases and the average increase was €29,053

The 2,444 properties reduced the price by just over €102.1 million in total.

The 118 properties raised their price by just under €3.4 million in total.

You can See the Report by clicking here

IPW also report on rental statistics:

This report is over the period, from the 2010-02-07 to the 2010-02-21.

The drops per day was 133 down from 148 last report.

There were 1,866 drops and the average drop was €71 .
Over the same period there were 215 increases and the average increase was €147

The average rent was on 2010-02-21 was €794 down from €803 on the 2010-02-07

Please click here for the full report.

MyHome.ie sees threefold increase in the number of ‘sale agreed’ properties in Dublin during the month of January 2010 compared with the same month last year

New data from MyHome.ie, Ireland’s leading property website, has shown a three fold increase in the number of ‘Sale Agreed’ second hand residential properties in January 2010 compared with the same month last year.  An analysis of MyHome.ie’s data has seen a consistent month on month increase in the numbers of Sale Agreed second hand residential properties since September of last year, which supports empirical evidence of a pick up in the residential market particularly since the start of the New Year.

Since September 2009, MyHome.ie has seen progressive month on month increases nationwide in the number of properties registered as’ Sale Agreed’.  This trend goes against the traditional seasonal selling cycle that would normally be seen in the market of residential properties for sale.  December showed a marked increase, showing the highest number of sale agreed properties per month in 2009.  It is likely that this increase was fuelled by market certainty and confidence brought by the publication of the December budget.

According to the MyHome.ie data, sale agreed properties in Dublin increased by over 300% with 658 properties reaching sale agreed status compared with just over 200 in the same month last year.  Sale agreed properties in Leinster also increased by a similar percentage during the same period.  MyHome.ie is also seeing similar trends in Counties Kildare, Wicklow and Meath.

The increase in the level of sale agreed properties is consistent with an overall increase in visits to the MyHome.ie website, with almost 40 million page views in January, 2010 representing an increase of approximately 20% on the same month last year.   Since September 2009, there has also been an increase of over 50% in the level of enquiries being made through the site to estate agents.

To date, the month of February is already showing twice as many Sale Agreed properties in Dublin when compared with the same month last year, with just over half of the month completed.   An analysis of the data on the site also suggests that the level of stock ‘overhang’ is reducing in a number of areas.

Speaking about the release of the data, Angela Keegan, Managing Director, MyHome.ie, said “It’s encouraging that we’re seeing consistently higher levels of activity on our website, as we believe it’s an indication of a pick up in second hand house market throughout the country, and we’re hopeful that this trend will continue. The levels of activity have been trending upwards since September, 2009 with a marked increase in activity during December which showed the highest number of sale agreed properties per month in 2009.  It is likely that this increase was fuelled by market certainty and confidence brought by the publication of the December budget.”

Sale Agreed second hand properties for Dublin and Leinster September 2009 to January 2010

Statement by Michael Grehan, Managing Director, Sherry FitzGerald

Tuesday, February 24^th 2010

Commenting the new data just released from property portal myhome.ie, Michael Grehan, Managing Director, Sherry FitzGerald has noted similar trends in trading activity in the Dublin branches of Sherry FitzGerald in recent months.

• Viewing levels in Sherry FitzGerald’s Dublin branches have increased by 57% in year to date compared with the same period in 2009.
• The number of sales agreed in the year to date has increased by 45% when compared with last year.
• There is a notable increase in multiple bidders on individual properties.
• The most active cohort in the market place are first time buyers, who are typically seeking two and three bedroom houses and apartments.
• Stock levels have tightened with a notable reduction in the quantity of new properties coming to the market in year to date.  
• As such, there is an emerging shortage of a three and four bedroom family homes on the market.

 Commenting on this data Michael Grehan, Managing Director, Sherry FitzGerald said, “Whilst it is too early to call this a trend it is encouraging to see the uplift in activity in recent months and we will continue to monitor this closely.”

Read the report…

http://www.homebrokers.ie/blog/wp-content/uploads/2010/02/Knight-Frank-London-Properyt-Report.pdf