MEASUREMENTS AND DATE ARRANGED FOR PROPERTY SECTOR TO REOPEN THE MARKET

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.

Regards, 
The McPeake Team.......
Stay safe...

Interesting facts regarding property searches on line

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

Source. Daft.ie 

New Homes figures released from Construction Information Services

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.

Regards, 
The McPeake Team.......
Stay safe...

Property Protocols Update from the Society of Chartered Surveyors.

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..

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

https://assets.gov.ie/73722/ffd17d70fbb64b498fd809dde548f411.pdf

Regards, 

The McPeake Team.......

Stay safe...

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

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.

Accommodation:

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