mcpeake

auctioneers

Dedicated, Professional & Passionate about Property

Latest News

Budget 2020 – A Quick Overview on the Budgets effect on Irish Real Estate  09 October 2019


Budget 2020 – A Quick Overview

€80 million increase provided for housing assistance payments (HAP).
According to the Irish Times this will add 15,750 new tenancies to the existing 50,000 social housing tenants already in privately-owned flats and houses. €1.1 Billion provided by the budget will support the construction and acquisition of 11,000 new social units in 2020 (12,000 planned for 2021). 

Francis Doherty from the Peter McVerry Trust noted the additional €80 million for the HAP scheme in 2020 was “a recognition that we will remain very much dependent on the private rental market to accommodate those in need of social housing and the continuing rise in cost of rent in key urban areas”. 

To help with the provision of new affordable homes, an extra €17.5m is being provided to the Land Development Agency, the Minster also said. 

€186m is also being allocated to the Serviced Site Fund and Local Infrastructure Housing Activation Fund in 2020. 

€2 million in additional funding will be given to the Residential Tenancies Board
This is to support their investigations and sanctioning of non-compliance with rent pressure zone measures.

Help to Buy Scheme
The first-time buyers grant will be extended for two more years until the end of 2021. The scheme provides for a refund to first-time buyers of income tax and deposit interest retention tax (DIRT) that they have paid over the previous 4 years (up to a maximum value of €20,000) to go towards the deposit on a house. 

The Construction Industry Federation has welcomed the continuation of the Help to Buy scheme but warned it would not address affordability issues or rising construction costs.

Stamp Duty
Stamp duty on commercial real estate has increased from 6% to 7.5% with immediate effect. This is the second increase of stamp duty on commercial real estate in three budgets. 6% will apply to transactions executed before 1 January 2020, where a binding contract existed prior to 8 October 2019.

This increase means that Ireland has the 3rd highest stamp duty on commercial real estate in the EU, after Brussels and Luxembourg. This will have a major effect on the decision making of international investors and may cause disruptions to the market stability that is currently in place. The Ministers rationale for this increase was that the market is increasingly performing strongly, and the sector will continue to bear this increase “without significant impact”.

Amendments will also be made to the legislation which will provide for the repayment of stamp duty where the land involved is subsequently used for residential development. This is to ensure that the rate of stamp duty chargeable after a full refund remains at 2 percent.

Property investment funds and REITs - Anti-avoidance measures are being introduced with immediate effect.

Revenue identified some IREFs engaged in “Aggressive behaviour' to avoid tax. Revenue identified the use of excessive interest charges to shelter profits from Irish property.  As a result of the review, a number of anti-avoidance measures were introduced by way of Financial Resolution on 8 October 2019 to include new limitations on interest expenses to prevent over-leveraging and a measure to combat the artificial avoidance of gains on redemption of IREF units.

In addition, the Donohoe indicated a number of targeted amendments will be made to the Real Estate Investment Trust (REIT) regime to ensure an appropriate level of tax is paid on property gains by a REIT in particular where a REIT leaves the REIT regime.

Monday Motivation!  08 July 2019


Congratulations to Anna McPeake   01 July 2019



A big Congratulations to Anna McPeake from all of us at McPeake Auctioneers for her top class result in her final exams at Maynooth College. Hard work pays off !!! 


McPeake Auctioneers Sponsor Moynalty Ladies Racing Team at Donegal Ultra 2019.   01 July 2019






The Moynalty x 4 Ladies Racing Team, Sponsored by McPeake Auctioneers, who took part in the Donegal Ultra 555 km Cycle Race from Letterkenny on the 14th /15th June.

Pictured at the Finish Line with their medals from left: Marie Reilly, Rose Murray, Roisin McDaid & Ursula Farrelly.






Monday Motivation!  27 May 2019


Monday Motivation!  29 April 2019


Monday Motivation!  01 April 2019


Dunville Navan Successful Launch  12 March 2019




Following a successful launch on 2nd and 3rd March in Dunville, Navan, we are delighted to announce a Limited Availability of 2, 3 & 4-bedroom homes with prices starting only from €245,000! Come visit our new wonderful show home this coming Saturday from 12pm to 2pm!

Monday Motivation!  12 March 2019


Monday Motivation!  25 February 2019



Valuable Commercial Opportunity for Owner Occupiers & Investors  22 February 2019




3 Old Street Malahide Co Dublin K36 AE95
                   Trading as Chez Sara Restaurant and Wine Bar               

Location:

Situated in the heart of Malahide.Chez Sara is a renowned and established Restaurant & Wine Bar. Synonymous with top quality food and customer service set in a high profile streetscape.

Malahide is a vibrant Business and Tourist town, situated along one of the most beautiful stretches of coastline in the country. Renowned for a wide variety of top class restaurants’ pubs and shops to cater for a large and captive local clientele. 

Complimented by a strong Tourist Trade, attracted to this affluent Dublin suburb to its excellent amenities and facilities including Malahide Castle and its stunning grounds,Malahide Seafront, Marina, Yacht and Golf Clubs; and The National Cricket Venue, Malahide Cricket Grounds.
An easy commute to Dublin City Centre by DART and Dublin Bus.




Currently trading and being sold with full vacant possession.


Highlights:

·         Mediterranean styling with 30 Covers.
·         Customer Reception with Counter Seating.
·         Restaurant laid out in three intimate spaces
·         Ladies Gents and Staff Toilets
·         Kitchen and Storage.
·         Rear access.

                                         Gross Internal Floor Area – 70 M2 GEA

                                              VIEWING IS HIGHLY RECOMMENDED
 

Monday Motivation!  18 February 2019

Monday Motivation!  11 February 2019

Image

Monday Motivation!  04 February 2019


Hollywoodrath, Hollystown Dublin 15. Now on View!   31 January 2019


From Saturday 2nd February 2019

 On view Saturday  & Sunday from 12 – 2pm
 Or by private appointment.

A further selection of 3, 4 & 5 bedroom homes for sale.
contact Jennifer Clarke @ jennifer@mcpeakeauctioneers.com

3 bedroom semi detached homes from €355,000
4 bedroom semi detached homes from €395,000
5 bedroom detached homes from €550,000 


FOR SALE: Unit 10 Northern Cross Business Park   22 January 2019


McPeake Auctioneers report a busy end to 2018 with strong prices achieved for Industrial Units and Residential Development land.

McPeake’s are putting Unit 10 Northern Cross Business Park on the market For Sale this coming week.

A Modern 750 Sq. M. High Bay Warehouse with Offices & Yard on a high profile site in a very well managed estate, immediately adjacent to the M50 / N2 Intersection.

Gerard Farrelly expects keen interest from both owner occupiers and investors.

Residential Market for 2019- Watch this space!  22 January 2019




At present, The biggest factors affecting the property market is supply and Brexit. The rise in property prices for 2019, is dependent a lot on whether there is a “soft Brexit”. At the latter part of 2018, house prices rose by 1 %, again it was cited that this was due to the speculation surrounding Brexit. The forecast for north Dublin is house price increases this year of approx. 4 %, this is down from last years figure of 4.9 %. Stock level coming to the market is also having a knock on effect on house price increases.  From September last year and  the start of this year, we have seen a lot more new home product coming to the market, this will only increase this year and continue to do so. These factors combined with the Central Bank lending requirements is pointing towards a relatively stable/flat market for the year ahead, at least until the final outcome regarding Brexit comes into effect.
Watch this space !

Happy New Year!  11 January 2019

We would like to wish all our clients and customers a very happy and prosperous New Year. May 2019 be the year your dreams come true whether it is purchasing or selling a house! Let us help you find what you are looking for! We are back on full swing and ready to work hard with you again this year!

Some local information on Tyrellstown  27 November 2018



Our office is located within the Tyrrelstown town centre.  Tyrrelstown is 13km north-west of Dublin City.  It is between the main Navan road and Ashbourne road.

Tyrrelstown was a planned urban development.  House sales were launched in 2001.

Tyrrelstown has a variety of amenities including schools, shops, creche, sports clubs, Hotel and a variety of restaurants.  Blanchardstown shopping centre is located 1.5km away.  Good transport links to and from the city centre, include buses and trains.  All major road networks are within easy reach including the N3 and M50.

The surrounding area is a hub for multi-national businesses and a range of Irish enterprises.  Facebook, IBM, Alexion, Bristol Myers- Squibb, Organnon and Mylan are some of the companies within a 5 minute drive from Tyrrelstown.

It has a community from all over the world and has over 5,500 inhabitants (wikipedia, 2018).   

There are 2500 homes in Tyrrelstown.  A high density mix of apartments, townhouses, terraced and semi-detached homes.  1900 of these properties are owner occupied.   The area has a settled mature feel about it


Book a FREE Appraisal  27 June 2018

If you are thinking of Selling or Letting your Home
contact our office for a FREE appraisal

We have over 19 years experience and our professional
and friendly service guarantee's customer Satisfaction

We look forward to hearing from you 01 8272300

Demand and Supply in the Property Market ....  17 May 2018


Comparing prices in the first three months of 2018 with those in the final three months of 2017, with only Monaghan recording a slight fall. Compared with prices a year ago, only Donegal has seen a fall.
It is, in other words, a market that continues to see almost across-the-board strong increases in prices. Looking at the national average, the annual rate of inflation was 7.3% in the first quarter of the year. The optimist will point out that this is the slowest rate of inflation in almost two years
However, in a healthy housing system, housing prices increase at the same rate as prices in the rest of the economy, no faster. According to the official measure of the price level, general prices in the Irish economy are no higher now, in early 2018, than they were five years ago. This is a remarkable achievement in recovering the lost cost competitiveness of the Celtic Tiger years. It is all the more remarkable considering that one of the single largest components of the CPI is private rents – so in truth, leaving the housing market aside, consumer prices in Ireland have fallen over the past five years.
In the same time, though, the purchase price of housing has risen by one half, on average. In Dublin the increase is slightly above 60%, outside urban areas, the increase is closer to 40%. But overall, this is a collection of geographical markets more defined by their similarities than their differences.
The reason that prices are rising is not complicated: the growth in demand far exceeds the growth in supply. The fundamental barometer of a healthy housing system is that, where new demand occurs, new supply follows quickly. This should be true for the housing system as a whole – i.e. both market and social housing segments. But a closer look at the figures reveals just how dysfunctional Ireland’s housing system is.
Turning to demand, first, Ireland’s population is rising by over 50,000 people a year. About two-thirds of that increase – between 30,000 and 35,000 – is down to a natural increase in the population. The remainder – a far more volatile number in Ireland but 20,000 in 2017 and on average that amount over the last two decades – is net migration.
Of course, it’s a little more complicated than births exceeding deaths. A population increase of 50,000 does not mean the country needs 50,000 new homes a year. At a very basic level, not every individual – and certainly not new-borns – has a household by themselves.
This information is supplied by Daft Property Report.

Economics: Irish mortgage approvals down year-on-year in March  01 May 2018


New figures from the Banking & Payments Federation Ireland (BPFI), published this morning, showed that a total of 3,374 mortgages were approved in March - some  1,703 (50.5% of total volume) were for first-time buyers (FTBs), while mover purchasers accounted for 901 (26.7%).
 
  • The number of mortgages approved fell by 8.0% year-on-year but rose by 7.6% month-on-month.
  •  
  • Mortgages approved in March were valued at €763m – of which FTBs accounted for €390m (51.1%) and €234m (30.7%) by mover purchasers.
  •  
  • The value of mortgage approvals fell by 2.9% year-on-year and but rose by 10.4% month-on-month.

Re-mortgage/switching approvals rose on a year-on-year basis – by 54.9% in value and by 50.5% in volume terms.

The annualised volume of mortgage approvals fell for the first time since March 2016, falling by 0.7% in the twelve months ending March to 43,256. The annualised value of approvals fell by 0.2% to almost €9.5bn.

Annualised switching activity continued to grow strongly, with volumes increasing by about 4% in four of the past five reports. Switching volumes rose to 4,029 in the twelve months ending March, double the volume in May 2016.

Meanwhile, 7,879 new mortgages to the value of €1,704m were drawn down by borrowers during the first quarter of 2018.


Source:Merrion Chief Economist Alan McQuaid

  10 April 2018








Gerard Farrelly Chartered Surveyor with McPeake Auctioneers outlines the Headlines of the Society of Chartered Surveyors of Ireland's Annual Property Report and Review.

In the  SCSI Property Report and Review; Some 82% of Member Agents in the rest of Leinster (Excluding Dublin) reported an increase in market activity up 50% in 12 months.
 66% of SCSI Members predict demand to outstrip supply in 2018. 71% expect the highest   demand to be for 2 and 3 bedroom houses.
New Housing schemes coming on stream nationally in 2018 indicate that Munster will be the strongest of the Regions.

The Report predicts that the residential rental market will continue to experience a lack of accommodation nationally in 2018.

The SCSI Annual Commercial Property Review and Outlook outlines how Chartered Surveyors feel the commercial market will perform in 2018 with responses overall being positive.
Office rents are predicted to rise on average by 5% with the largest increase of 7% expected in Munster.
Industrial rents are expected to increase nationally by 6% with higher increases expected in Dublin and Munster Regions. Munster surveyors are expecting rises of 7% in retail rents in city centre developments.

The largest rise is expected with residential development land predicted to rise 11% nationally. This compares to office development land (7%) retail development land(6%) and industrial land(8%)

A total of 70% of Dublin respondents think that Brexit will cause an increase in office demand in the capital. In contrast, in Connacht / Ulster 365 of surveyors think the UK leaving the EU will decrease demand in these areas; this has jumped from just 6% last year. In Munster and the rest of Leinster, large majorities think that it will have no impact

2018 Property Market Update  04 April 2018


Daft . ie House price Report for the first quarter of this year 2018 shows that house prices nationally rose by 2.5% during the first three months of 2018. The average price nationwide was €247,000, 7.3% higher than a year ago. Compared to their lowest point in 2013, prices nationwide have risen by an average of 50% or just over €82,500.

In Dublin, prices rose by 2.3% in the first quarter of the year. This means that the average price in the capital is now €145,000 higher than five years previously. In Cork and Galway cities, prices rose only marginally in the first three months of 2018 (by 0.3% and 0.1% respectively) but are now 59% and 70% higher than their 2013 lows. In Limerick and Waterford cities, prices rose by 2.1% and 2.4% respectively in the first three months of the year. Outside the main cities, prices rose by 3% in the same period, with the largest increases in Munster, outside the cities.

The number of properties available to buy on the market nationwide continues to fall. There were just over 20,000 properties on the market in March. A significant increase in Dublin listings – up from 2,700 a year ago to 3,500 now, largely offset a fall in availability elsewhere. The number of properties on the market outside Dublin is now at 16,800, down 1,000 on a year ago and the lowest on record, for a series starting in January 2007.

Commenting on the figures, Ronan Lyons, economist at Trinity College Dublin and author of the Daft.ie Report, said: “The picture of the housing market in Ireland currently remains one of strong demand and very tight supply pushing up prices. There are some elements for cautious optimism, including an increase in transaction volumes countrywide and in stock on the market in Dublin. Nonetheless, during a five-year period when consumer prices did not change, housing prices rose by 50%. This is an indication of how inadequate housing supply is.”

This information is supplied by Daft.ie

Careers   27 March 2018



McPeake Auctioneers are currently looking for an experienced residential sales negotiator. An excellent remuneration package is on offer and the opportunity to further their career within the property industry with excellent prospects for the right candidate.

• You must have a current license issued by the PSRA or hold relevant qualification in property studies.
• Experience (min. 2/3 years) of residential property sales
• Professionalism, commitment & determination to succeed a must.
• Own a car and have a full driver’s license

This is a full time position with core hours of Monday to Friday 9.00 am to 5.30 and the ability to work Saturdays as and when required. If you feel you are ready for this type of challenge and would like to apply, please email an up to date CV and cover letter to info@mcpeakeauctioneers.com or contact Jennifer at 01 – 827 2300.

Rebuilding Ireland Home Loan  26 February 2018


What is a Rebuilding Ireland Home Loan?
A Rebuilding Ireland Home Loan is a new Government backed mortgage for first time buyers. It is available nationwide from all local authorities from 1st February 2018.
As a first time buyer you can apply for a Rebuilding Ireland Home Loan to purchase a new or second-hand property, or to build your own home.
The loan is a normal Capital and Interest-bearing mortgage which is repaid by direct debit on a monthly basis.
You can borrow up to 90% of the market value of the property.
Maximum market values of the property that can be purchased or self-built are:
•€320,000 in the counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow, and
•€250,000 in the rest of the country.

Am I eligible?
To be eligible for a Rebuilding Ireland Home Loan you must:
•be a first-time buyer
•be aged between 18 and 70 years
•be in continuous employment for a minimum of two years, as a primary applicant or be in continuous employment for a minimum of one year, as a secondary applicant
•have an annual gross income of not more than €50,000 as a single applicant or not more than €75,000 combined as joint applicants
•submit two years certified accounts if self-employed
•provide evidence of insufficient offers of finance from two banks or building societies
•not be a current or previous owner of residential property in or outside the Republic of Ireland
•occupy the property as your normal place of residence
•purchase or self-build a property situated in the Republic of Ireland of no more than of 175 square metres (gross internal floor area)
•purchase or self-build a property which does not exceed the maximum market value applicable for the county in which it is located
•consent to an Irish Credit Bureau check
A Rebuilding Ireland Home Loan offers three rate products:
•2% fixed for up to 25 years (APR 2.02%)
•2.25% fixed for up to 30 years (APR 2.27%)
•2.30% variable (subject to fluctuation) for up to 30 years (APR 2.32%)
All rates are exclusive of Mortgage Protection Insurance (MPI) which is a requirement of borrowing. Eligible borrowers are required to partake in the local authority collective MPI scheme. MPI is payable monthly, in addition to loan repayments.
If you choose a fixed interest rate product:
•Your monthly repayments remain the same for the full fixed rate loan period, making budgeting easier - but during the fixed rate period, you may be liable for a breakage fee if you switch to a variable rate or pay off all or part of your mortgage.
If you choose a variable interest rate product:
•You have the flexibility to make lump sum repayments, increase your repayments or make early repayments - but your monthly repayments could rise or fall over the life of your mortgage.

You should seek independent financial advice on which product is most suitable for you.
Eligibility is subject to submission of a complete Rebuilding Ireland Home Loan application form and confirmation by your local authority.

How much can I borrow?
With a Rebuilding Ireland Home Loan you can borrow up to 90% of the market value of a residential property. Maximum market values of the property that can be purchased or self-built are:
•€320,000 in the counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow, and

•€250,000 in the rest of the country.
This limits the amount that can be borrowed to no more than €288,000 in the counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow and no more than €225,000 in the rest of the country.

How do I apply?
If you think you are eligible and can afford the repayments on the amount you need to borrow, you can complete a Rebuilding Ireland Home Loan application form here. Applications can be made from 1st February 2018.
You must complete all sections of the application form and provide the supporting documents described in the applicant checklist.

Your application form must be signed by all applicants and submitted to your local authority. Applicants are strongly advised to submit their applications in person, as posted applications are often not completed correctly and have to be returned.
Your application will be assessed and you will be advised of the decision in writing. Lending criteria, terms and conditions apply. Security and Insurance required. Further information is available from  help desk at 051 349720 (8am to 5pm - Monday to Friday) or from your local authority.

A Brief Overview of The Irish Industrial Market  22 February 2018



A Brief Overview of The Irish Industrial Market

 

A recent SCSI Report states that Industrial Property is now the best performing of all the property assets since the 1st Quarter of 2016.

The continuing improving economic conditions are leading to sustained high levels of activity in the Industrial market

Industrial Rents are forecast to increase for the foreseeable future. A factor partly driven by the lack of availability in this sector.

Consequently, Gerard Farrelly reports that the industrial property purchaser profile has changed. Owner Occupiers have now been joined in the bidding by Investors. Many of whom have become disillusioned with the Residential Rental Market.

22 02 2018

GOVERNMENT BACKED MORTGAGES FOR FIRST TIME BUYERS  22 February 2018

First time Buyers will be able to get government-backed mortgages.

Applicants can choose a fixed rate of interest for the duration of the loan.

The scheme is aimed at people who don't qualify for social housing.

             The mortgages can be used to buy a house up to:



 €320,000.00 in the greater Dublin area, as well as Cork and Galway

 and €250,000.00 in the rest of the country

             The mortgages will be granted through local authorities

Where the person's annual gross income does not exceed €50,000
or for joint applicants it is €75,000


 Fixed rate
The new Rebuilding Ireland Home Loan can be used both for new and secondhand
properties, or to build your own home.
A person or couple can borrow up to 90% of the market value of the property.
They can choose a fixed rate of 2% to 2.25% interest for 25 to 30 years.


What this means essentially is that a person or couple can
purchase a home, while ensuring that they can still keep their
monthly repayments to one third of their net disposable income
– with no risk of their mortgage rate rising and so no threat to
their ability to afford repayments, giving them certainty and
security.

Murphy gave two examples of how the scheme would work:
So, for example, a person earning €40,000 a year and
living in Mayo could afford to buy a house worth €224,920,
provided they had the deposit of €22,400. They could then
borrow €198,000 from their local authority and their monthly
repayments would be in the region of €858 a month, or 33% of
their Net Disposable Income.

As a second example, a couple earning €75,000 and living
in Dublin could afford to buy a house worth €320,000, provided
they had €32,000 as a deposit between them. They could then
borrow €288,000 from their local authority and their monthly
repayments would be €1,221, or 24% of their Net Disposable
Income.
€200

This information has been provided by thejournal.ie

Property Price Register  16 February 2018

Did you know you can search the property price register

      to see what properties have sold in your area

You can see what has SOLD on your ~Street and the
Sale Agreed price and the date the property was Sold

                     www.propertypriceregister.ie

ANNUAL RENTS SOAR ......  12 February 2018

Rents Nationwide have risen by an average 10.4% in the year up to December 2017,
according to Daft.ie

The average monthly rent Nationwide is €1227.00
This is an all time High

There were just over 3,100 properties available to rent Nationwide on 1/2/18


ACHIEVE THE BEST PRICE FOR YOUR HOME  05 February 2018

If you are Thinking of Selling 
Contact us today for a FREE
Sales Appraisal of your property

01 8272300

Our expert Team would be 
delighted to talk to you today

NEW HOMES ON VIEW 3rd and 4th FEBRUARY  31 January 2018


We are showing New Homes on Saturday 3rd February and Sunday 4th February

at


Hollywoodrath, Hollystown - this Saturday and Sunday from 12 – 2pm.

and 

Dunville, Navan - is  on view this Saturday and Sunday from 2.30 to 4.30pm


High Demand for Industrial Buildings in says Gerard Farrelly Commercial Surveyor at McPeake Auctioneers  25 January 2018







McPeake Auctioneers have a large data base of buyers for Industrial Buildings with Offices Particularly in the Dublin Enterprise Zone. Dublin 11 and 15

Units ranging in size from 200 to 10,000 sq. m are being actively sought .

Gerard 01 827 2300 / 087 298 6980 will be happy to carry out a no obligation valuation of your property should you be considering selling.

Prime Commercial Investment at Ballinagh Road Cavan  25 January 2018




                                 

                                 FOR SALE PRIME COMMERCIAL INVESTMENT



McPeake Auctioneers have launched the sale of an attractive commercial investment at
 Ballinagh Road Cavan.

                      A modern 1,030 sq. m building on a strategic high profile 0.34 Hectare Site.

Let to Cavan VEC

Valuable reversion

BER C3

For details and viewing contact Gerard Farrelly on 01 827 2300 / 087 298 6980

(PSA No. 001012 - 006833)


 
 
 
 

Thinking about selling your Home?  17 January 2018

Thinking about selling your Home?

Do you need any help or clarification about what's needed ?

We' are here to help you ....

Please don't hesitate to contact our team on 01 8272300
and we would be delighted to discuss this with you

Rental Report Q 2 - 2017  21 August 2017



Source: Daft.ie


Daft.ie report shows that rents rose nationwide by an average of 11.8% in the year to June 2017. The average monthly rent nationwide during the second quarter of 2017 was €1,159, the fifth quarter in a row a new all-time high has been set. The rate of inflation represents a slight slowdown in inflation from the rate recorded in the first quarter of 2017 (13.4%), which was the second largest on record.

In Dublin, the increase in rents in the year to June 2017 was 12.3% and rents in the capital are now over 18% higher than their previous peak in 2008, or €260 a month. In Cork, rents rose by 6.8% in the year to June, the slowest rate of inflation since early 2014, while in Galway, rents were 10% higher than a year previously, the eleventh straight quarter of double-digit increases in the city. In Limerick city, rents rose 10.8% in the last year, while in Waterford the increase was 8.4%. Outside the cities, rents have risen by 11.9%.

There were just 2,930 properties available to rent nationwide on August 1st. This is the lowest number ever recorded, in a series that starts in January 2006, and the first time ever that fewer than 3,000 homes were available to rent. In Dublin, there were just 1,100 homes available to rent, compared to 2,000 on the same date in 2014.


  18 August 2017



A Keenly Priced Commerial Investment with Residential Space in Oldcastle Co Meath
                                                   
                                                                      OR

                                                           Home & Income

350 sq.m of  Retail Office Storage & Living space at offers region €205,000 for immediate sale

Potential Annual Income  €18,000   

Must be viewed !!


Please call Gerard Farrelly McPeake Auctioneers on 01 8272300 or 087 298 6980. 

  18 August 2017

McPeake Auctioneers have brought an Exciting Residential Development Opportunity to the Market

 at Station Road Dunboyne Co Meath

5.99 Acres / 2.42 Hectares of Prime Zoned & Serviced Building Land

For Sale by Tender on 15th September 2017




  • Within the Metropolitan Area
  • Zoned A2 - 'New Residential'.The Development has identified Dunboyne as a -
  • 'Large Growth Town'
  • M3 and M50 in immediate proximity providing swift acess to all major arterial routes
  • Beside Dunboyne Rail Station routed to City centre and the Docklands.
Full details can be provided by calling Gerard Farrelly on 01 8272300 or 087 298 6980 

Joint Agents REA Coonan 01 628 8400

Hollywoodrath, Hollystown, Dublin 15. 9 units due for release this September.   11 August 2017




Following on from the last sell out phase at Hollywoodrath,  Phase 4 is currently under construction with a further selection of properties due for release in October 2017.

 
For further information regarding the October release please contact joint agents McPeake Auctioneers 01 – 827 2300 or Knight Frank 01 – 63424 66  or register online at www.hollywoodrath.ie

 
We are however delighted to announce the release of 9 units this September.  

 
The nine units will consist of:

 
4 x four bedroom semi -detached homes.

1 x four bedroom semi -detached show home.

3 x four bedroom detached homes.

1 x three bedroom semi -detached show home.
 
For Further details please contact: - Jennifer or Diana on 01 - 827 2300.




Additional Release Announced for Dunville, Navan!  23 May 2017

Due to unprecedented demand and phase sellout in just 2 weeks of launch, we are delighted to be able to bring an additional 8 3-bedroom homes to the market this weekend. These larger than normal new homes are proving to be a very popular offering due to their size and excellent finish throughout. For more details please contact the office or come along to the show-homes on Sat and Sunday 27th and 28th May between 2-4pm

LAUNCHING !! NEXT WEEKEND !! DUNVILLE, NAVAN, CO.MEATH.  05 May 2017


We are delighted to announce the launch of Dunville, Navan, Co.Meath.   We will be opening the doors for the first time on Saturday & Sunday the 13th & 14th May.  from 2-4pm.  
These are not your average sized home! 
Most of the 3 bedroom homes have the potential to convert the attic space. (Subject to Planning Permission).

For further information please contact 01 - 8272300.


Major Mixed Development Opportunity in Hollystown Dublin 15  17 February 2017





                    




                                       New to Market with McPeake Auctioneers


Duinch on 1.73 Hectares / 4.27 Acre in a highly sought after area of North West Dublin overlooking Hollystown Golf Course. Minutes to the N2 M3 M50 Port Tunnel & Dublin Airport.

Tyrellstown Town Centre is within walking distance and a choice of local schools.
The NAC & Blanchardstown Town Centre are adjacent.
Excellent City Bus Service.

The superb 5 Bedroom house extends to 285 sq.m with secluded manicured grounds.

The lands are zoned for Residential and Commercial Use.

Price is on application.

Call Gerard Farrelly McPeake Auctioneers on 01 827 2300 or gerard@mcpeakeauctioneers
for a detailed brochure and viewing.

Help to Buy Scheme Explained   15 February 2017


Summary

The Help to Buy incentive is designed to assist first-time buyers with obtaining the deposit required to purchase or self-build a new house or apartment to live in as their home.

The incentive provides for a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid over the previous four tax years to first-time buyers who purchase or self-build a new house or apartment to live in as their home.

The main provisions, as set out in the Finance Act are outlined below.

Who is entitled to claim?

A first-time buyer of a house or apartment who purchases or self-builds a new residential property between 19 July 2016 and 31 December 2019 may be entitled to claim a refund of Income Tax and DIRT paid over the previous four years.

The first-time buyer must not have either individually or jointly with any other person (directly or indirectly), previously purchased, or built a house or apartment. Where more than one individual is involved in purchasing or building a new home, all of the individuals must be first-time buyers.

Note: You must ensure that your contractor is a Revenue approved qualifying contractor before purchasing the property if you wish to avail of the Help to Buy incentive. See the list of Developers/Contractors who are registered as a Qualifying Contractor.

You must be tax compliant. If you are self assessed you must also have eTax clearance.

What is a qualifying property?

For a property to qualify under the scheme it must have been purchased or built as the first-time buyer’s home. It does not include properties acquired for investment purposes. It must be a new build and the construction must be subject to VAT in Ireland. Properties which have never been used as a dwelling and are now being converted for residential use may qualify.

The purchase value of the property cannot be more than €500,000 for properties bought after 1 January 2017.

 

For properties purchased between 19 July 2016 and 31 December 2016 the value cannot exceed €600,000.

For self-built properties the purchase value means the approved valuation by the qualifying lender at the time that the qualifying loan is entered into.

You must take out a mortgage on the property with a qualifying lender and this loan must be used solely for the purchase or building of the property. The loan should be entered into solely by the first-time buyer and the lender. A guarantor on the loan is allowed. The loan to value ratio must be greater than 70%.

What you need to do before you apply

Before you apply, you must be registered for myAccount (PAYE) or ROS (self-assessed).

PAYE taxpayers need to submit a Form 12 (where they have not already done so) for each of the tax years they select. Online Forms 12 for 2013 onwards are available through myAccount and are pre-populated with your pay and tax details. A paper pdfForm 12 for 2012 (PDF, 1.79MB) (if required) can be downloaded. When you have completed the paper Form 12, you can scan it and then upload it in MyEnquiries. To do this, you can click Add New Enquiry, and select ‘Help-To-Buy Scheme’ and ‘Form 12 (2012)’ from the dropdown options available under ‘My Enquiry Relates To’ and ‘And More Specifically’. Then you attach the scanned Form 12 documentation and submit your enquiry.

Self-assessed taxpayers must be fully compliant, have eTax clearance, and must therefore have paid and filed for the years in which they are a chargeable person. Online Forms 11 are available for all years through ROS.


 
How to apply

You can apply online. There are two stages to the HTB electronic process - an application stage and a claim stage.

A. Application Stage

You will be required to provide your PPSN, and complete a declaration. Provided that you are tax compliant you will be provided with an Application Number and a summary of the maximum relief available to you. You will be issued with an Access Code separately through MyEnquiries. You should retain both of these safely as you will require them for your lender. If you are purchasing your home you will require these for your qualifying contractor, of if self-building you will require these for your solicitor. Your contractor or solicitor will require this information to verify the tax relief claim.

B. Claim Stage

Once you have signed the contract for your home and are ready to make your claim complete the following steps;

Step 1 – Upload the following information about your application through MyEnquiries. (You should take note of the reference number given).

  • a copy of the signed contract
  • evidence of your mortgage (including loan-to-value ratio)
  • proof of drawdown of the first tranche of the relevant mortgage (if a self-build).

Step 2 - You should then login to HTB through myAccount or ROS and make your claim. You will need to include your MyEnquiries reference number. You will be asked to confirm details relating to the property, the purchase price, date of completion, mortgage details, and the deposit already paid. Group applicants will also need to provide the amounts of the agreed portion of the refund applicable to each member of the group. Self-build claimants will need to provide the BIC and IBAN of the qualifying loan bank account. Once you have submitted your claim you will be provided with a claim number.

Please ensure you have carefully checked all the information you input before signing and submitting the claim. It will not be possible for you to cancel the claim afterwards.

Step 3 - Once the claim is submitted, you should advise your Developer/Contractor, or, Solicitor if you are self-building, and provide them with your claim number and the access code already provided. Before any refund is paid, the information you have given will need to be verified by

 
  • the Developer/Contractor in the case of a new build, or
  • a Solicitor, acting on your behalf, in the case of a self-build.

Note – the amount of the final refund will be subject to 5% of the purchase price of the house so it may differ from the maximum relief summary you received at application stage.

 

 

 

 

New to market!! Industrial space for sale  10 February 2017




New to Market !!!

12 Old Quarry Business Campus North West Business Park Dublin 15 is attracting huge interest.

255 sq.m. End Terrace Warehouse + Offices + Showroom in walk in condition.€ POA

Early viewing is recommended with Gerard Farrelly McPeake Auctioneers 01 827 2300





McPeakes report a significant increase in demand for Industrial space with office content throughout North West Dublin from both potential owner occupiers and investors.
Premises in need of refurbishment are not a deterrent to buyers.
McPeakes have a list of "ready to go" buyers.

Should you be thinking of selling please give Gerard Farrelly a call on 01 827 2300 for a free appraisal

Rental Market Crisis   21 December 2016



A few weeks ago, the latest Daft.ie Rental Report was released. The picture it painted of the rental sector was grim. Here are five worrying statistics from the report:
  1. The average monthly rent nationwide reached a new all-time high of €1,077 in the third quarter of 2016, up from a low of €742 five years previously.
  2. Not only did rents reach a new high, but so did annual rent inflation, which was 11.7% in the year to September, the highest ever in the Daft.ie Report, which extends back to 2002.
  3. The increase in rents has been particularly acute in recent months, with the increase between June and September equalling the highest ever three-month increase in rents of 3.9% nationwide.
  4. This is not a Dublin phenomenon – all 54 markets around the country saw rents increase in that three-month period, the fifth time in the last two years that rents rose in every single market.
  5. The number of markets where there is double-digit rates of inflation annually has risen from 17 out of the 54 analysed in late 2015 to 37 in the most recent report.
These rapid rises in rents are occurring at a time when inflation in the general price level for consumers is effectively zero – and has been for years. No matter which way the numbers are cut, therefore, it is clear that problems in the rental sector are getting worse, not better.
A tempting response would be to ban rents from increasing. Indeed, much of the political response to the report’s release was framed in such terms. However, while this may seem like it’s tackling the problem, it’s important to remember that rising rents are the symptom. The underlying problem is actually a lack of homes.

Preventing rents from rising does nothing to address this. In fact, it may make the problem worse, not least for those who are already homeless and who thus are now locked out of the market. A far better solution is to reduce construction costs – for all construction, both social and private. By lowering costs, this improves affordability and thus viability.



Rise in Monthly Rents.   02 December 2016





The rise in monthly rents in Dublin has slowed but a wide gap remains between the cost of renting a home in the capital and the rest of the country, latest figures for the private residential property market show.

Quarterly figures compiled by the ESRI, and published by the Residential Tenancies Board, also show that 20% of people in Ireland now live in rental accommodation.

The average monthly cost of renting a home in Dublin rose by around €10 per month in the three months to the end of September, to €1,487.

The average cost in commuter counties outside Dublin – including Laois, Louth and Meath – was €864 a month, which is a 12% increase.

The faster growth rates outside Dublin reflect similar trends in house prices in these areas.
Nationally, annual growth in the third quarter was 8.3%, and 9.2% for the year so far.
Residential Tenancies Board Director Rosalind Carroll says the cost of renting in Dublin has stabilised as many people can no longer afford to live in the capital.She also says there is still a major shortage of homes to rent in Dublin.

While the rise in rents has moderated, especially in Dublin, she cautioned against reading too much into the figures, saying the market remains volatile and that patterns are difficult to identify.
A new strategy for the residential rental market is due to be announced in the coming weeks by Minister for Housing Simon Coveney.

Speaking on RTÉ’s Morning Ireland, Ms Carroll said that the gap between rents in Dublin and the rest of the country, particularly in commuter counties, is narrowing.

This could be an affordability cap, she said, whereby people have reached a limit as to the rents they can afford, which is forcing the rents to stop rising so rapidly.

However, rents outside of Dublin are continuing to rise quite sharply, she said.

Ms Carroll said it was important to introduce a strategy to bring security for tenants and landlords.
But she added it is important that any strategy does not cause unforeseen consequences that would cause landlords to leave the market, and therefore cause less supply.

The Central Bank has made it easier for first-time buyers with new mortgage lending rules  25 November 2016



 

 

 

The Central Bank has made a big change to its mortgage lending rules, in a move that will make it easier for new buyers to get a mortgage.
 
Up to now, new borrowers could have been approved for a mortgage with a deposit of 10pc for borrowings up to €220,000.They needed a 20pc deposit for all amounts over that.

 
This means that a first-time buyer purchasing a home for €300,000 will qualify for mortgage approval with a deposit of €30,000. Up to now the buyer needed a deposit of €38,000.

 However, the Central Bank is restricting the number of exemptions to the deposit rules to just 5pc all first-time buyer mortgages issued by banks.It was 15pc.

 For all other buyers, such as movers, there will still be a 20pc deposit needed.

The changes take effect from January.

 The Central Bank said it found that since the introduction of the measures there had been a reduction in the amount of new lending at high loan to value and high loan to income levels, “which is contributing to the ongoing improvement in the financial resilience of households”.

Help to Buy Scheme - New home searches surge by 130 %   28 October 2016




New home searches surge by 130%

Searches for new homes surged following the announcement by the Government of the first-time buyers help-to-buy scheme.
 
Daft has over 2.21 million unique users each month and they recorded an increase of 130% in searches for new homes when compared with the average daily searches for new homes in 2016.
 
Interest in new homes was greatest in the Dublin area, along with the Dublin commuter counties, followed by Cork, Galway, Limerick and Waterford cities.
 
Areas with the most searches:
  • Lucan
  • Swords
  • Clonsilla
Outside the Dublin area:
  • Greystones
  • Ashbourne
  • Maynooth

 


Simple Maths...  20 October 2016

"2get" and "2give"
creates many problems.
So just double it.....
"4get" and "4give"
solves many problems

Ref: Awesome Quotes

Budget 2017 : First Time Buyer couple set for €10,000 package  03 October 2016



Housing plan: First-time buyer couple set for €10,000 package

Scheme to boost construction of more starter homes will be outlined in budget





A new scheme to provide first-time buyers with assistance in purchasing a home will be tied in with incentives for developers to build new houses.
The Government is working on a so-called help to buy scheme for first time-buyers, which will be outlined by Minister for Finance Michael Noonan on budget day.
It is understood this scheme will be much broader than initially envisaged in order to “incentivise the construction of more starter homes”, according to sources.
Minister for Housing Simon Coveney yesterday unveiled his action plan for housing.
It aims to increase the number of homes built per year to 25,000 by 2021. It also aims to provide 47,000 social housing units in the same period, with funding for social housing increased to €5.35 billion from a previously announced €3.7 billion.

Backdated

Mr Coveney confirmed that any measure for first-time buyers and developers would be backdated to yesterday to ensure there was no adverse effect on the market. 

 
Figures involved in preparing the action plan said the value of any package for first-time buyers must be about €10,000 per couple to have tangible impact.
The Fianna Fáil manifesto contains proposals for a mortgage deposit top-up scheme for first-time buyers worth €10,000 per couple, or €5,000 for an individual.
Party sources said the Government proposal “will have to be similar” in value in order to guarantee support for the budget.
The Fianna Fáil proposal, however, is for a top-up to mortgage deposits. It is understood the scheme being worked on by the Government is a combination of assisting first-time buyers with tax rebates and helping with top-ups to cover a mortgage deposit.
The Department of Finance is cool on the idea of providing assistance to first-time buyers without corresponding measures to boost supply.

Part Time Staff Required   24 September 2016





McPeake Auctioneers are looking for part time staff to work on their new home sites on Saturdays and Sundays. Hours may vary,    Working hours tend to be: -  12 - 2pm or 2 - 4pm.

If this sounds like it could be of interest to you, please e mail your C.V to: -

jennifer@mcpeakeauctioneers.com

  16 September 2016

Dublin Area Analysis

The Official CSO index indicates that Dublin Residential property prices bounced back in recent months, up 0.9% in March and 1.6% in April  and 0.1% in May.
The annual residential property price inflation rate for for Dublin was 4.8%, weaker than the 8.5% recorded in the rest of Ireland.

  15 August 2016



McPeake Auctioneers have just launched "Fia House" Roebuck Mountnugent on the market.
A Superb 5 Bedroom Detached Home on 0.324 Ha. of grounds. Built in 2008 to exacting standards.


 
 
 
"Fia House" is situated in idyllic surrounds close to Lough Sheelin Crover House Golf Course Mullaghmeen Forest and Loughcrew Cairns and just 20 minutes to M3

Imposing Hall 2 Reception Large Kitchen with bespoke fitted units & granite tops.utility 2 En Suite Bedrooms.
255 sq.m of well proportioned bright living space.
Fast Broadband service.Work from home !!

AMV €275,000

Please call Gerard Farrelly on 01 827 2300 or 087 298 6980 to arrange a viewing

Rent Certainty -TENANTS PLEASE NOTE!!!!!  16 June 2016








- Landlords cannot increase the rent more than once in 24 month period.

- Has a form of retrospective effect.

- Landlord has to prove rent of three comparable dwellings.

- 3 months notice must be given prior to increase becoming effective 

- Negotiation are permitted 

- Matter can be referred to the PRTB 


Sale agreed within 5 days of going to the market.   10 June 2016









McPeake Auctioneers are delighted to announce that The Boulevard Mount Garrett was sale agreed within 5 days of going to the market.  Even better than that the property was sale agreed for the asking price of €235,000.


Result !

Property prices see annual increase of 7.1% in April 2016  10 June 2016

Property price growth in Dublin accelerated in April to its fastest rate in eight months, but prices in the rest of the country fell.
New figures from the Central Statistics Office show that residential property prices overall rose by 7.1% in April on an annual basis. Prices were up by 0.3% last month compared to March.
The CSO figures reveal that Dublin residential property prices increased by 1.6% last month - the fastest increase since August of last year. They were up 4.6% on an annual basis.
Dublin house prices rose by 1.9% in the month and were up 5% compared to the same time last year.
Meanwhile, Dublin apartment prices were 1.1% higher on a monthly basis.
However, the price of homes in the rest of the country fell by 0.6% in April, the second monthly fall in a row. Residential property prices outside of Dublin were up 9.5% on a yearly basis.
The rate of house price growth slowed sharply last year after restrictions on mortgage lending was introduced by the Central Bank.
Property prices across Ireland remain on average 33% below their 2007 peak.
Commenting on the figures, Davy economist David McNamara said that the recovery in house prices was well flagged by more positive asking price data in the first quarter and an uptick in mortgage approval values.
The economist said that the current supply shortage - especially in Dublin - should continue to support house prices in the near term.
"These figures reinforces our view that house price inflation will settle at 5% by year-end," he added.

NEW TO MARKET An Elegant 2 Storey Over Basement Victorian Building with rear access along the seafront: 77 Strand Road Sandymount Dublin 4  27 May 2016



McPeake Auctioneers have pleasure in offering:


No 77  A superb Victorian property currently utilised as offices. In a highly sought after location. Ideally suited for conversion to a fine and prestigious family home. Overlooking Sandymount Strand, the property retains many of it’s original period features together with large bright well-proportioned rooms, off street car parking and a stroll along the seafront!  Close to all amenities: Sandymount Village, Sydney Parade Dart Station, a range of Primary and Post Primary Schools. 15 minutes to St Stephens Green and 20 minutes to Dublin Airport via the Port Tunnel.


 No 77 is a tasteful blend of period and modern innovation. Moulded parapet slate roof, quoin trims and granite sills. Imposing main entrance with fanlight. Spacious hallway with raised arch. Upper landing return with bright encased window. Ornate ceiling covings and cornices, decorative plasterwork. Moulded skirting’s architraves and frames.


 Laid out over 3 Floors: 4 Rec Kitchen 3 Bedrooms Bathroom w.c. Gas c.h. 179 sq.m


Walled front gardens.  Walled 125 sq.m rear yard with south westerly aspect, vehicular and pedestrian gates.

Gerard Farrelly McPeake Auctioneers commented: A unique opportunity to acquire a truly desirable property and "stamp" one's own identity on it.




Irish house price data for February forecast to show another monthly fall  26 March 2015





 
The domestic economic focus this morning turns to official house price data for February. Residential property prices (houses and apartments combined) at a national level rose by 15.5% in January, the twentieth annual increase in a row but down from the year-on-year rise of 16.3% posted in December. Meanwhile, prices were down 1.4% in the month, which was the largest fall in national prices observed in a single month since February 2012. January is traditionally a bad month for house prices due to the poor weather conditions, but the big question this time is whether there is more to the decline than just that, given the tighter lending restrictions imposed by the Central Bank.
A lack of supply of houses has clearly pushed up prices, particularly in the Dublin area in the past couple of years, but it is not something that can be rectified overnight. However, the latest planning permissions data showed a sharp rise in the third quarter, indicating that things may be starting to improve on this front, which should help to reduce the increase in house prices over time. The new lending restrictions imposed by the Central Bank are also likely to weigh negatively on buyers and help to push down house price growth in 2015.
Still, the generally improving economic backdrop should sustain the house price recovery in the short-term even with credit restrictions. And it should be remembered that these figures are based on mortgage draw-downs only, and don’t take into account cash transactions. So the underlying health of the market and the rise in house prices is stronger than the official data would suggest.
There was an average official increase of 12.9% in house prices in 2014, up from 1.8% in 2013. Taking all the factors into consideration, an increase of 10% is projected for 2015. As regards February, a monthly fall in residential prices of 1.0% is forecast, giving an annual rise of 14.2%.






Subject Matter from: Merrion Wealth Management: - Analyst - Alan McQuaid - Chief Economist