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SCSI/PwC Construction Market Monitor 2020: Private sector activity & the COVID-19 impact  13 October 2020

Society of Chartered Surveyors of Ireland in connection with PwC just released 4th annual report assessing current activity levels across the Irish construction sector. This joint report provides insights into current trends as well as challenges facing construction consultants and the sector at large. Moreover, the report examines surveying professionals’ expectations over the next 12 months, which is a useful gauge of expected activity levels to come in 2021.

A comparison of surveyor responses between February and June 2020 provides a very clear picture of the severity of the impact of COVID-19 on the Irish construction sector. When asked about headcount, margins and workloads, a significant proportion (up to 68%) of surveyors reported a downward trend across the three areas. This is a stark contrast to February 2020 when only up to 12% of surveyors expected headcount, margins and workloads to decrease.

Since the reopening of the sector on 18 May 2020, activity has begun to gear up following weeks of lockdown. Sectoral protocols introduced provide for new working arrangements to manage COVID-19 risk. Extended construction timelines under these new arrangements and dealing with issues that still persist in relation to supply chain delays for certain materials, has impacted output levels.

Key findings  

  • Covid-19 resulted in a 20% decrease in construction related activity levels in the first half of 2020 
  • 51% of surveyors expect a decrease in workload in the next 12 months 
  • Over two thirds expect a decrease in profit during this period 
  • Seven out of ten have a negative or neutral outlook on activity levels
  • Raising finance, project delays and skills shortages the key challenges
  • Opportunities exist to further leverage digital
  • Less than one in ten are ‘well prepared for Brexit

In in addition to the disruption caused by COVID-19, Brexit remains a real and present concern for businesses in Ireland. It has the potential to have significant impacts on business operations and trade already reeling from the effects of the pandemic.

For further Information please visit:


The McPeake Team...
Stay Safe...

NEW HOMES - New Release in Whitefield Hall, Bettystown, Co. Meath  06 October 2020

Dear Reader, Hoping you are keeping safe and well through these trying times. 

We are delighted to bring to the market a further selection of 3 & 4 bedroom semi detached homes for sale in Whitefield Hall, Bettystown, Co. Meath.

Whitefield Hall will comprise in total of 205 exceptionally large 2, 3 & 4 bedroom family homes, with on site crèche and local shop planned to service the development.

3 bedroom semidetached houses prices start from €285,000 

4 bedroom semidetached from €307,000

We are conducting show house viewings, adhering to all social distancing guidelines - Viewing is strictly by private appointment.

Please note we are currently sold out of three- four- and five- bedroom homes. 

As soon as we have further information regarding the next phase of units, we will endeavor to contact our registration list.

In the meantime, should you wish to register for the next phase or have further queries please do not hesitate to contact us.

The McPeake Team...
Stay Safe... 



According to Charlie Taylor from Irish Times overall 3,875 mortgages were approved in August, (14.1 % higher compared to July), of which first-time buyers accounted for 58 per cent of the total volume.

First-time buyer approval was up 1.4 per cent year-on-year to 2,559, while mover purchase volumes fell 17.8 per cent to 1,000.

There were 3,337 purchase mortgage approvals in August, which collectively were valued at €834 million. Purchase mortgage approval activity was down by 6.8 per cent in volume terms versus August 2019 and down 0.6 per cent in value.

There were 39,610 mortgage approvals in the 12 months to the end of August, down 1.2 per cent versus the previous year in terms of volume and 0.24 per cent lower in value terms.

“Following on from a strong uplift in mortgage approval activity in July compared to the previous month, this further uplift in August provides a much-improved pipeline for mortgage drawdown activity in the months ahead, notwithstanding the fact that overall activity is still down year-on-year,” said Dr Ali Ugur, chief economist with Banking and Payments Federation Ireland, which compiled the figures.

“We know that actual mortgage drawdowns were down by around 18 per cent year-on-year in the first half of 2020, and this comes as no surprise in light of Covid-19. But if recent approvals convert into drawdowns as they normally do, we could expect to see a better outcome than originally estimated back in April/May,” said Dr Ugur.

Find more information on:

The McPeake Team...
Stay Safe... 

Homebuyers moving on in spite of pandemic!  22 September 2020


According to Irish Examiner the Covid-19 pandemic has not deterred would-be homeowners, with 71% planning to plough ahead with buying a property in the next year, compared with 68% of prospective buyers who were surveyed last May.

Property website showed, that half of the almost 3,000 surveyed believe 2021 will be a good time to buy a home. And in fact seven out of 10 respondents are planning on purchasing a property in the next year. 

Just 13% of survey respondents believe property prices will fall by over 10% in the next year, whereas last May, 37% of consumers predicted that outcome, said.

Last month, analysis showed that asking price inflation rose by 1.2% nationally compared with the second quarter of 2019.

Managing director of, Angela Keegan, said that the findings reflect the ongoing demand that is evident in the market. “Even though consumers have not seen the price drops that many predicted when Covid-19 emerged, demand has stayed strong. It appears that many prospective buyers have not been hit by the economic fallout from Covid-19".

Almost three-quarters said they feel safe viewing properties at the moment.

The McPeake Team...
Stay Safe... 

Our Property of the Week!!! 41 Alderwood, Hollystown, Dublin 15.   15 September 2020

41 Alderwood, Hollystown, Dublin 15 is an absolutely stunning four bedroom semi-detached house extends to 169 /1,819 sq. ft. of luxurious, well designed and bright interiors, located in a small quiet estate with private playground. The area has seen considerable development over the past number of years, making it one of the most desirable locations in west Dublin. Internally the house comprises of spacious kitchen/dining room large living room, second reception/playroom, guest WC and utility. At first floor level there are three bedrooms with one bedroom ensuite, and family bathroom. The entire second floor accommodates an exceptionally large master suite incorporating en-suite shower-room. 

This house must be viewed to be appreciated!!! Contact Hilary Cummins now! 

Building Energy Rating must be included in all sale & rental advertisements  16 July 2020

Dear house owners, 
We would like to remind our customers that a property's Building Energy Rating (BER) must be included in all sale and rental advertisements.

A BER is a legal requirement for all homes, including previously unoccupied new-builds.
Failure to comply with these rules may result in certain penalties, including a fine of up to €5,000.

There are exemptions for protected structures and some other building types. 
Please visit SEAI for more information.
The McPeake Team...
Stay Safe... 

Goodbye commuter homes, hello rural living!   20 June 2020

Swapping the city for country living!

If the experience of living in lockdown in the city has you yearning for country life, it seems that you are not alone. 
Many agents have seen a large interest from ex-pat & city based buyers over the last two weeks. It seems that Covid-19 has given city livers time to reflect on what they want from their homes and the kind of lifestyle they’d like to lead.
The success of the enforced remote working experiment is a key driver – with 78% of workers saying they’d like to continue to do so when the crisis is over. Those most keen were in the 31- 40 age group.
Enticed by access to nature, lower property prices and the allure of a non-existent commute, it’s likely that interest in rural property going to continue surge over the coming months.
Read full article:

68% of potential buyers are planning on purchasing a property within the next year.  03 June 2020

·     68% of potential buyers are planning on purchasing a property in the next year

·     37% expect property prices to fall by over 10% in the next year

·     69% believe the Government could do more to help the property sector

  • 59% believe Covid-19 will lead to more online processes in general in the long  term to minimize unnecessary contact

Prospective homebuyers are still confident about their ability to buy despite the interruption to the market as a result of Covid-19, according to a new survey.

The survey, from leading property website, suggests that 68% of prospective buyers are still planning on buying a new property in the next year. This correlates with a general expectation that prices will drop significantly – with over a third (37%) believing prices will drop by over 10% in the next 12 months. Six out of ten respondents believe next year will represent a good time to buy property.

The survey of 1,981 people also found that 69% of respondents believe the Government could do more to help the property sector during Covid-19.

The virus is expected to have significant long-term effects, with 59% of respondents believing it will lead to more online processes in general to minimize unnecessary contact. Meanwhile, 21% believe it will lead to quicker sales processes in general.

When asked what factors would encourage them to buy a property now, 35% said more available housing stock, 33% said more overall confidence in the economy, and 33% also said an easing of mortgage lending rules.

Half of respondents (51%) believe online viewings and virtual tours are effective ways to view a property.

Source My .


The Department of Health has provisionally approved dates and guidelines to allow the property sector to reopen the market. The reopening guidelines approved by the Department of Health were suggested by numerous bodies in the property sector including the Society of Chartered Surveyors Ireland, the Institute of Professional Auctioneers and Valuers and the Property Services Regulatory authority.
The new guidelines, JOINT SECTOR PROTOCOL FOR PROPERTY SERVICES PROVIDERS, provide clarity on how people can buy and sell homes in the current global circumstances.
The measures will apply for both commercial and residential properties.
According to the Department of Health, estate agents, valuers and auctioneers may be able to go
It is expected that estate agents, valuers and auctioneers may be able to go back to work from June 8th.
We at McPeake Auctioneers would like to highlight some important measurements we are going to implement and advise our customers attending viewings and potential buyers to note and apply Social distancing measures at all times.
  •   Viewers must not attend if displaying any COVID-19 symptoms, are self-isolating or have returned from overseas in the last 14 days.
  • Pre-booked private appointment viewings will be carried out only.  Name and phone contact details of viewing party will be recorded in advance of viewing.
  • Please do not park close to residents’ cars or driveways by mounting the kerbs or close to an area where children are playing.
  • Maximum 2 people per party and no young children (under 16).
  • Time restricted appointments (15-minutes recommended) with sufficient time allowed between appointments to avoid any potential cross over of viewers.
  • Hand sanitizing facility will be available at the entry point of each show unit.
  • Property windows will be open to ventilate the show unit (all weather).
  • No bathroom facilities provided.
  • In second-hand properties, vendors will be asked to leave all doors and storage areas open to avoid people touching objects excessively.
Please be assured that each of our Property Service provider undertook a Safety training.
The McPeake Team.......
Stay safe...

Interesting facts regarding property searches on line   19 May 2020

495 total respondents from survey regarding property searches.

·  476 of which are aged between 25-44

·  80+% of respondents still want to buy a home in the next 12 months 
·  70% are first time buyers

·  54% say their budget has not been affected by covid-19

·  41% say their budget has only been affected ‘somewhat’ by covid-19

·  90% of respondents are still actively viewing/researching properties 

·  49% of respondents are looking to buy a new home

·  51% of respondents are find pre recorded videos useful in their research

·  43% are respondents are finding 3D video tours useful in their research


New Homes figures released from Construction Information Services  11 May 2020

According to figures released from Construction Information Services (CIS) in April, Covid-19 has halted the building of almost 60,000 new homes in various stages of commencement or construction across the island of Ireland.  In Dublin alone, up to 183 sites downed tools while work across the Republic stopped on 33,000 new houses and 17,000 apartments. That said, construction workers, including builders, roofers, and landscapers, have been one of the first groups allowed back to work in the first phase of the restarting the economy, which gets underway this month (May) and already some sites have reopened.
However, the Construction Industry Federation (CIF) has warned that the new COVID-19-busting measures that will have to be adapted will inevitably increase costs and slow projects. And with social housing, civil engineering, as well as projects for the multinationals earmarked as the first activities to be restarted, it may still be a while before work on residential properties is picked up again.
The country was already lagging on the Central Bank’s summation that 34,000 new homes per annum are needed in the Republic for the next 10 years to meet demands of the growing market. Now this current interruption will set the State back even more, leaving it with a longer road out of the current housing crisis.

The McPeake Team.......
Stay safe...

Property Protocols Update from the Society of Chartered Surveyors.  05 May 2020

Gerard Farrelly McPeake Commercial writes

Recently, the SCSI, working together with the PSRA and IPAV, drafted a joint sector protocol document for Property Service Providers and Valuers. This has been forwarded to the Department of Housing, Planning and Local Government with the aim that this will facilitate a return to work for the property sector in the near future, subject of course to public health regulations and full compliance with social distancing guidelines. 

The safety of all the people working in the property industry, their clients and the general public is the number one priority and the aim of these protocols is to enable a safe return to work while also providing reassurance to clients and the general public that best practice is being followed

Government - Roadmap for reopening Society & Business..  01 May 2020

In light of the announcements by Government today - Please click on the link below to view road map for reopening business & society.


The McPeake Team.......

Stay safe...

The Impact of Covid 19 on the New homes Market for 2020.......  29 April 2020

The effect of Covid-19 on the housing market is likely to come from a number of areas.

·         The fall in production as a result of time lost on new home sites.
·         Delays in connection of mains services to new home sites, due to social distancing rules.
·         Cautiousness and uncertainty even with the most committed of buyers.  
·         The practical impact it has on buyers’ and sellers’ ability to transact, as social distancing rules limits people’s ability to go about their normal business
·          Its impact on the economy and the traditional drivers of affordability.
Under normal circumstances it can take anywhere from four to ten months to construct a new home.  There is no denying that Covid 19 will negatively impact on housing supply this year, with forecasts predicting that we could see a reduction of completed units fall anywhere between 20 – 35 %.

The main concern across the board is the ability for buyers to acquire mortgages, given the employment losses throughout the Country arising from Covid 19. This factored in with purchasers with existing mortgages having to be reassessed will negatively impact on lending.   

There is no question the demand for new homes will be affected by mortgage challenges and the uncertainty in the economy, but the reduction in supply should minimise this.  Prior to the  Covid-19 pandemic, supply was still well  below the estimated 35,000 new units needed annually, so the fall in production and supply  this year should  increase this shortfall,  that’s even taking into  account the negative demand effects arising from Covid-19. As a result, buyers seeking to purchase and move into a new home in 2020 will ensure continued demand for the reduced level of stock delivered in 2020.
Going forward sellers will undoubtedly need to remain pragmatic on pricing over the course of 2020, as demand becomes now more than ever dependent on supply.

Spacious Office Suite to Let - Beaumont, Dublin 9.   27 April 2020

Thorndale Medical Centre, 1a Thorndale Drive, Beaumont, DO5DXO9

Situated 200 metres off the Malahide Road R107. On the junction of Elm Mount Road with Thorndale Drive.                                                 
Formerly a Doctors Surgery.

Suitable for any type of office user or consultancy.

Outer Hall. Inner Hallway. Reception. Large Waiting Room. Office Store. Circulation area.
Office / Surgery 1. Office / Surgery 2.  (L-Shaped) Toilet

Gross Internal Floor Area – 50 M2

Please contact Gerard Farrelly McPeake Commercial on 01 827 2300  / 087 298 6980


We hope you and your family are keeping safe and well.

As a country experiencing a lock-down and having to avoid close contact to keep the virus from spreading, we at McPeake Auctioneers are ready to prove that the entire process of purchasing  a new home can be carried out completely remotely using modern technology.

As proof, we are delighted to announce that we have had a very successful month of new home sales and closings.

Since the lockdown measures were implemented we have been exceptionally busy closing new home sales, so our purchasers can start a new chapter in their lives. 

We have been actively conducting virtual viewings and appraisals with our prospective purchasers,  vendors and tenants.

Despite these exceptionally challenging times, we are delighted that we are capable to continue to be exceptionally active with new home sales and shine a light at the end of tunnel to our clients by proving that the whole process can be done from afar - by buyers as well as sellers.

We would like to assure you that now more than ever we will always be dedicated and passioned about properties.

Keep safe and stay  in touch,
Yours McPeake Team

How to get your Home ready to Sell  22 April 2020

We hope that you are safe and getting used to new rhythms of life, whatever they may be.

We are all Looking forward to better days, when we can meet you in person and are free to
show you our properties for Sale and to Let.

For the time being we are all working remotely and still here to help you as best we can.

If you have any queries or are looking for some advice on selling or renting your Property
 please call us today and we would will guide you through the process every step of the way.

We’re here and working hard to support you through these challenging times. 


Give your House a Deep Clean
De-lutter your Home
Call a handyman and finish off any unfinished maintenance
Add a fresh coat of paint to your home if needed
Discuss these thoughts with McPeake Auctioneers … 01 8272300

Stamp Office re-opens for socially-distant business   20 April 2020

Law Society President Michele O’Boyle has said in a bulletin to the profession that any “return to normality” after the present emergency will be a gradual process.
However, for the legal profession, the position remains that it is entitled to continue to provide legal services necessary to support essential services and vulnerable people, with strict adherence to WHO guidelines.
In this context, the Law Society has made progress in four key areas:
  • Partial restoration of Property Registration Authority (PRA) services,
  • Measures to introduce remote hearings to Irish courts,
  • Re-opening of the Stamp Office, and
  • Ongoing engagement regarding the Temporary Wage Subsidy Scheme.
“As your president, I have endeavoured to navigate the inevitable challenges and impediments to practice over the last few weeks, with unstinting input and co-operation from Law Society committees and staff,” President O’Boyle said.
“My resolve to discharge my responsibility to the profession remains steadfast.”
Essential services
Clearly, every practice will differ as to if, how, and in what circumstances essential legal services are delivered, the president said, given the diversity of law firms.
The profession’s engagement with Government has been driven by the principle that compliance with essential public-health measures must be sustainable for an extended period, if necessary.
“In other words, we must find creative ways to continue providing essential services and protect livelihoods, even as we take unprecedented steps to combat the virus,” President O’Boyle said.
Progress on the PRA
The suspension of most PRA services has created significant complications for conveyancing.
The Law Society has actively lobbied on the matter and has now received confirmation from PRA boss Liz Pope, and housing minister Eoghan Murphy that some services will resume.
It has also been confirmed by the PRA that:
  • From 14 April, they are recording casework received up to 30 March on their system,
  • From 20 April, the PRA will be in a position to take in applications for Land Registry and the Registry of Deeds by post and DX (not by hand, as the public offices remain closed).
  • Dealing numbers will be assigned in the normal way, and the usual 21-day period applies in respect of lodgments under that dealing number,
  • Services required to facilitate activities necessary to support essential services and vulnerable people will be considered for urgent processing, on a case-by-case basis,
Registry-of-Deeds registration applications will be assigned a serial number as received and progressed in the normal way,
The official search and copy memorial service remains suspended for the moment,
A copy instrument service will be provided from 20 April for urgent closings,
At this stage, for operational reasons regarding bulk printing and volume, it is not possible to re-commence a certified copy/folio and filed plan service.
The Law Society is seeking clarification from the PRA on a number of matters, and a further update will issue shortly. It welcomes this significant progress, however, and will continue to work constructively with the PRA to overcome any remaining impediments to business.

Source:  Law Society Gazette Ireland

McPeake Commercial has just the SPACE FOR YOU!  09 April 2020

A Prime Property to match your New Business Plan. 

Unit 3 Sutton Cross Dublin 13.D13W1H9

Situated in a key position in Sutton Cross Shopping Centre at the junction of Sutton Cross fronting onto the Howth road. Strong footfall. Excellent amenities and transport links. Sutton DART and numerous Dublin bus routes.
Adjoining occupiers include Peter Mark, EBS, Super Valu and McCartan’s Pharmacy. The Marine Hotel is immediately adjacent.

·         Prime location with strong footfall.
·         Excellent Business opportunity.
·         A Superb Unit in excellent condition.
·         62.34 m2.
·         8.27 m. Street Frontage.
·         Prominent Window Display Space.
·         Fronting Howth Road.
·         Assigned Parking space.
·         Flexible Lease Terms.

Please contact Gerard Farrelly 01 827 2300. 087 298 6980.

COVID19 OFFICE NOTICE  16 March 2020

This note is to update you on the state of play regarding McPeake Auctioneers services until the end of March.
Our communications systems are tested and resilient. This enables many of our team members to work remotely. So, from your perspective, you should notice no real changes.
As such, our employees will work remotely with a staggered staff presence in the office.
Our office does have a restricted visitor policy meaning only McPeake staff can access the office.
Should you wish to contact any of our departments by email please see all relevant contact details below:

Residential – Hilary Cummins –
New homes – Jennifer Clarke – or
Diana Mandaji –
Commercial – Gerard Farrelly –
Lettings and Management – Jennifer Buckley- Or      
                    Fiona Slater –

We are prepared to navigate through these challenging circumstances and will continue to take our lead from official government advice.
Stay Safe

The Management
McPeake Auctioneers

Part Time Staff Required   15 January 2020

McPeake Auctioneers are currently seeking part time staff to work weekends on several of our new home sites around Dublin 15 and North County Dublin.  Interested parties must have their own transport and be available to work Saturday's and Sunday's.

For further information please contact:

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.