Goodbye commuter homes, hello rural living!

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: Independent.ie

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

·     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 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 .

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...