We always welcome and appreciate client's feedback and reviews, as we strongly believe that our customer's perception is our reality. What they think about our service, MATTERS to us!
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The McPeake Team...
Stay Safe...
Increase in interest rates for Rebuilding Ireland home loans has pushed out potential borrowers.
New figures from the Department of Housing show that approvals
for the Rebuilding Ireland home loan scheme fell by 60%, draw downs fell by
50%.
Previously a successful applicant could borrow at a rate of 2 per cent over 25 years, a rate which significantly undercut those available in the market at the time. However, this rose to 2.745 per cent in January of this year, making the loans considerably less affordable, and decreasing the amount potential home-buyers can borrow. It also pitches the scheme substantially above market rates, with a rate of 1.95 per cent now available from Avant Money over seven years.
According to the figures, 235 home loans were approved in the
first six months of the year at a total value of €38.2 million, with 283
loans drawn down at a value of €47.7 million.
This compares to 574 loans approved in the first six months of
2019 at a total value of €95.7 million, with 556 loans drawn down at a
value of €93.9 million.
While applications for the scheme are not detailed in the
department’s figures it’s likely that fewer people may have applied for the
scheme given the impact of the Covid-19 pandemic on incomes, however,
the decrease in approvals in the first quarter of 2020, before the pandemic
hit, was significant at 37 per cent.
This suggests that the Government’s decision to increase the
cost of the scheme has also hit potential applicants.
One of the most noted declines was seen in Dublin city, where the scheme had been popular. Last year 140 home-buyers were approved for the scheme in the first six months of the year; this year. however, just 56 were. Fingal, which covers areas like Swords and Castleknock to the north of the city, approved 49 loans in the first half of 2019, but just 19 in 2020.
For more details read full article: Approvals for Government’s home loan scheme plummet 60% (irishtimes.com)
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The McPeake Team...
Stay Safe...
The McPeake Team...
Stay Safe...
Please take a moment and read some of the excellent reviews that have come in in recent weeks!
McPeake Auctioneers Commercial have agreed terms with a high end retail food brand for Unit 3 Sutton Cross Shopping Centre - a 63 sq mt modern outlet fronting the Howth Road.
McPeakes have also agreed terms with a rapidly expanding
Food Franchise for 19 Castlemill Shopping Centre, Balbriggan - a 195 sq mt restaurant space situated at the entrance to the Centre.
Many homeowners believe that Spring and Autumn are traditional selling seasons. But the idea that houses don't sell in the Winter months comes from slightly outdated trends.
Our 25 years of experience show that on average, homes listed during this time are more likely to sell quicker, and achieve closer to the asking price. November, in particular, has some unique advantages that make it an ideal time to sell and here’s why:
Do you still think it’s better to wait until the new year to
list your property? We hope we convinced you that spring and summer aren’t
always the best time to sell and November can truly be the ideal time to list
your property with McPeake Auctioneers.
So, you’re thinking about selling your current home and
you’re looking to trade up or downsize to a new home? Call us today on 01
8272300 or email info@mcpeakeauctioneers.com
and we will be happy to assist you.
Regards,
The McPeake Team...
Stay Safe...
Months come and go, but McPeake Auctioneers are always here to help you with your property!!!
22ND OCTOBER TO 30TH NOVEMBER 2020 LEVEL 5 RESTRICTIONS
This note is to update you regarding McPeake Auctioneers Services.
All enquiries please to 01 82 72 300 Monday to Saturday 9am to 5.30 pm
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 – hilary@mcpeakeauctioneers.com
New Homes: Jennifer Clarke – jennifer@mcpeakeauctioneers.com or
Diana
Mandaji – diana@mcpeakeauctioneers.com
Commercial: Gerard Farrelly – gerard@mcpeakeauctioneers.com
Lettings & Management: Jennifer
Buckley – 086 86 999 87 or jenniferbuckley@mcpeakeauctioneers.com
Office Administration: Fiona Slater – fiona@mcpeakeauctioneers.com
We are prepared to navigate through these challenging circumstances and will continue to take our lead from official government advice.
The Management
McPeake Auctioneers
As our valued customer, we would like to give you the latest update from Daft.ie House Price Report , which shows average listed price of housing rose by 4.8% between June and September. The jump offsets falls earlier in the year and means that the average sale price nationwide in the third quarter of 2020 was €263,750, up 2.7% on the same period in 2019 and 60% higher than its lowest point in early 2013.
According to Ronan Lyons, Assistant Professor in Economics Trinity College Dublin, the ultimate reason prices are rising again is that there are simply not enough homes in the country, given the population and its demographics. Supply on the market on October 1st was the lowest in over 14 years – since September 2006, with the total number of properties available to buy was less than 17,700. This highlights the underlying issue affecting the Irish housing system – a prolonged and worsening scarcity.
The significant fall in completion of new homes to be registered in 2020 may prove a temporary blip. Nonetheless, the level of new home construction even in 2019 was barely half of underlying need. During the first half of 2020, there were just over 3,000 transactions involving newly-built homes in Dublin, a fall of 27% compared to the same six-month period in 2019. The typical price for a newly-built home sold in the first half of 2020 was €351,000, up 5% from €335,000 in early 2019. Transactions of new homes in Dublin’s four commuter counties nearly halved between 2019H1 and 2020H1 - meaning their share of the total number of transactions involving new homes fell from almost one third to less than one quarter.
There were just over 4,000 properties on the market in Dublin on October 1, down from almost 5,500 on the same date a year ago.
Average asking prices across North Dublin City is €350,499 and Dublin 15 are as follow:
1 bed apartment €176,000
2 bed terraced €224,000
3 bed semi-detached €310,000
4 bed bungalow €513,000
5 bed detached €603,000
To find out more please contact us on 01 82 72 300 or send us an email on info@mcpeakeauctioneers.com
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The McPeake Team...
Stay Safe...
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
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: https://www.scsi.ie/news/view?id=134
Regards,
The McPeake Team...
Stay Safe...
Dear Reader, Hoping you are keeping safe and well through these trying times.
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.
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.
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: https://www.irishtimes.com/business/mortgage-approvals-on-the-rise-but-loan-values-decline-1.4363633
Regards,
The McPeake Team...
Stay Safe...
Property website MyHome.ie 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, MyHome.ie said.
Last month, MyHome.ie analysis showed that asking price inflation rose by 1.2% nationally compared with the second quarter of 2019.
Managing director of MyHome.ie, 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.
Regards,
The McPeake Team...
Stay Safe...
41 Alderwood, Hollystown, Dublin 15 is an absolutely stunning four bedroom semi-detached house extends to 169 sq.mt /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!
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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 MyHome.ie, 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 home.ie .
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