Real Estate Alliance reported a marked increase in house sales in regional areas at its annual agm last week.

The group, which represents estate agents around the country, attributed the growth to smaller urban towns benefiting from increased demand, where the Central Bank minimum deposit requirement is less onerous than in bigger urban centres and commuter counties.

Welcoming the latest announcement by Minister for Housing Simon Coveney to fast-track the delivery of 30,000 new homes in urban centres across the country, REA chairman Eamonn Spratt said: “In particular we are in favour of the fast-tracking of residential housing schemes and the identification of significant land holdings for potential development.

‘Lack of supply’

“Overall, we expect that the market outside Dublin will appreciate by circa 10 per cent over the next year – greatly influenced by the lack of supply.”

Guest speaker at the Dungarvan meeting was Frank Daly, chairman of the National Asset Management Agency, who spoke about the future direction of Nama and the current housing supply shortage.