Decentralisation Trends: The Government's decentralisation drive has resulted in a 20 per cent increase in enquiries for residential property in Clonakilty, Killarney and Waterford, according to a survey of Real Estate Alliance members.

Although there has been no sales as a result of this growing interest, the Alliance reports that the pattern of increased enquiries is reversed the closer you get to the Dublin commuter belt.

According to Eimer O'Keefe of the alliance, people are asking questions about the cost of living, community activities, restaurants, clubs and the quality of nearby beaches.

"They're also expressing a long view on the positive impact of decentralisation on their lives and families, and are attempting to assess the likely costs and savings associated with relocating to places like Clonakilty." After decentralisation was announced, the alliance noticed a 15 per cent increase in activity on its website and is currently sending out 10 per cent more information literature on their property listings compared to this time last year. "The increasing level of interest is still at an early stage," says Eimer O'Keefe. "People are still waiting for more definitive announcements before entering any formal purchase negotiations."

Ms O'Keefe claims there is no "empirical evidence" of increased investor activity at locations near to Dublin as a result of decentralisation. "However, taking Killarney as an example, local investors are now demonstrating a desire to participate in any upturn in demand and actively looking for new residential investment opportunities."

Trim-based alliance member Thomas Potterton says there hasn't been a "huge amount" of inquiries coming in from those hoping to relocate, or from investors, but inquiries were growing. "Although it's early days yet to judge what impact the programme will have on this area, the programme has undoubtedly injected energy into the market."