Tags Archives: Gorey

We are very proud to offer to the market this very attractive 4 bedroom detached residence at 138 Meadowgate which extends to 124 sq mt / 1334 sq ft. This property which was built in 2007 to a very high standard of specification has been done up to show house condition throughout. Meadowgate is one of the most sought after developments and is conveniently located within walking distance of Gorey town centre and close to many amenities including Gorey Shopping centre, restaurants, schools, pubs and many other amenities.

The Hatch Lab, Gorey

The start-up scene across County Wexford right now is impressive. So, not only do we have the most hours of sunshine per year here in the ‘Sunny South East’, we are also gaining a reputation for innovation amongst business start-ups in the region.

No fewer than five start-ups secured a high level of investment from Enterprise Ireland over the past 18 months and among them were four high potential start-ups companies (HPSUs). In case you are unaware, High Potential Start-Ups (HPSUs) are start-up businesses with the potential to create at least 10 jobs and €1million in sales within three to four years of starting up. The investment and obvious belief in these start-ups from the South East Region is a strong indicator of the entrepreneurial activity in the region and it promises to get even better.

Of course, Wexford has a vibrant tech start-up scene with companies such as SONRU and SCURRI originating in the county. Furthermore, these Wexford based companies have significantly expanded both nationally and internationally in recent years. Datapac is based in Wexford too and it is Ireland’s largest native ICT solutions and services provider. The company recently became a HP Platinum Partner for Printing and Computing in Ireland, which is the highest level of HP Partner accreditation, proving that business is booming in Wexford and this is heartening. However, it isn’t just big tech companies that are recognising the benefits of Wexford and all that it offers…

Co-working is growing in popularity and it is another fantastic option available in Wexford for remote workers or freelancers. The area offers ample opportunities in starting at business and though some small business owners prefer to work from home, many are seeing the advantages of co-working.  While starting a business in the home seems appealing to start ups initially, the remoteness and distraction or isolations soon pushes people to look for a space outside the home.  The trouble is that these can be expensive but, across County Wexford, but particularly in Gorey, we are actively building communities of people who work together and build relationships with like-minded people, thanks to the team at The Hatch Lab. It can be fundamentally beneficial to businesses too, as many choose to collaborate, share ideas and support one another while socialising too. It is growing in popularity throughout Ireland and this is indicative of a larger global trend.

The South East Region is already home to approximately 70 foreign-owned multinational companies therefore, Wexford is attractively positioned to support further growth in the shape of tech start-ups. It is fair to say that the area offers a competitive platform across commercial property, salary, rates and the cost of living when compared to Dublin or regional cities. Tech companies are choosing smaller locations as these companies understand that not every professional wants to live in the city either. Wexford offers a more affordable cost of living and this alone is a winning formula for attracting companies, employers and of course, employees to the area. It helps that we are close to the beach and have a host of walking trails and leisure facilities on our doorstep, offering the ultimate work/life balance!

Statistically, property is at least 30% less expensive than in Dublin or indeed, some of the bigger commuter-belt counties. Skilled workers are looking for more options and turning to smaller, less populated counties in order to settle down and raise their families. Raising a family in Wexford is a dream with its many schools, family friendly activities and numerous schools. It also benefits from being within 50 minutes to an hour of Dublin’s M50.

It is great to see the area being recognised for creativity and innovation amongst a new generation of start-ups.  Certainly, as a region, we are proud to showcase the local benefits for new potential businesses and residents. The future is looking bright for County Wexford!

 

If you are considering buying or selling in the South Wicklow and North Wexford areas in 2018, call into one of our offices (located in Carnew and Gorey) and chat to any of our expert team or you can contact us online at www.KinsellaEstates.ie. We are happy to facilitate overseas buyers and sellers via Skype or similar, outside of regular office hours.

Alternatively, email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718

 

 

 

Second-hand homes are in demand

There are certainly more buyers looking towards the Arklow, Carnew and Gorey areas this autumn and these buyers are coming with greater budgets than we have seen over the past eight years; however, there is an ever-growing storage of high-quality, second-hand homes coming to the market right across the South East.  There are many possible reasons for this, like a lack of confidence in the higher-end of the property market locally or perhaps a lack of suitable properties for home–owners to move to, whether their intention is to trade up or to scale down.  Arguably, it is easier for those hoping to scale down as new developments tend to provider smaller units and a mix of houses and apartments.  So what is holding these potential sellers back?

Window of opportunity

There is a good window of opportunity right now for existing home-owners who might be thinking of selling over the next few years to bring their homes to the market before any significant volume of new developments are completed.  Also, in terms of delivery of new homes, what we are seeing in South Wicklow and North Wexford is that the first tranche of new developments are very much geared towards first-time buyers.  Home owners locally who are  looking to trade up are much more likely to choose an existing or second-hand family home.  Of course, this will not always be the case.  Over the next five years as we see first-time buyer and investor demand being satisfied, developers will start to develop larger, more executive-type homes for growing families to trade up into.  But for now, owners of larger homes within the commuter belt, which includes Gorey and much of north County Wexford, will find a cohort of ready buyers for their properties, provided these properties are well-presented and priced appropriately.

Rising property prices across the South East

Many local home-owners are not aware that property prices in Wexford increased at  rates of 11% – 13% over the past year, which is almost double the average increases seen nationally over the same period.

If you fall into this category and you want some initial advice or guidance about the current value of your home, contact myself, Michael, here at Kinsella Estates.  I can help you with more than the valuation by giving you some tips on minor work that could be carried out to improve your home in a way that adds value (multiple times the cost of the work).  Also, the team here are noticing a reduction in the time properties close to town are taking to sell, with some homes selling in less than three to four weeks.  Of course this depends entirely on having the right buyer finance-ready but it is something that we can discuss with you and prepare you for.

Holiday homes

It’s worth noting that this also applies to holiday homes that owners might have been holding onto for a few years longer than intended, waiting for the market to recover.  Earlier this year we saw a stunning holiday home at Roney Beach make over half a million euro, which was €100,000 in excess of the guide price.  This shows the gulf between the busyness of the market sub-€250,000 and the buyers waiting for an opportunity at the higher end of the market.  Certainly, it is a smaller and less active market but the advantage of a smaller market is that the buyers are known to our offices and this allows for direct contact to speed up the initial sales period.

If you are considering selling in the South Wicklow and North Wexford areas, call into one of our offices (located in Carnew and Gorey) and chat to any of our expert team or you can contact us online at www.KinsellaEstates.ie.  We are happy to facilitate overseas buyers and sellers via Skype or similar, outside of regular office hours.

 Alternatively, email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718       

The question of whether or not buying the show house is a good idea is an on-going debate and certainly, there are pros and cons but experienced buyers know that the long term advantages tend to out-weigh any of the short term disadvantages.

So, what are the disadvantages of buying a showhouse?

You might need to wait for a few months before closing and moving into the property.  In other markets, particularly in the US, a buyer might close the purchase and then agree to lease the property back to developer for the sales period, which could be up to two years.  This does not happen in the Irish market, in fact, most developments would only use their show house  for a few months or  a year for phase one.  It is common for developers to sell one show house and simply kit out another so two show houses in the space of a year or two years is not unusual and can work well for both the developers and the buyers.

Another perceived disadvantage is that the site adjacent to the showhouse is often used for car parking so it can be busy/noisy at times.  Again, this is a very temporary inconvenience.

As anyone who has ever bought a home in the early stages of a new development launch will know, the show house is highly sought after and generally commands a higher price.

What are the advantages of buying a showhouse?

There are multiple reasons for this but the main one is that the show house is generally finished to an excellent quality, beautifully styled and furnished with top end, luxury  brands that the developer writes off as a promotion and marketing expense so the full (trade) cost is not passed on to the new buyer.

Also, at a more basic level, all new developments up -sell ‘extras’  that a buyer can pay for if they want a higher specification throughout.  This is always demonstrated throughout the showhouse so  you can expect that it comes equipped with the highest specification available.

There is nothing standard about a showhouse.

The kitchen, including worktops and light fittings are invariably top quality.  This is also true of flooring, however, do remember that what is visually beautiful might not always be practical for families (cream carpeting comes to mind!).

In addition to the high-end finish, showhouses are a feast for interior design enthusiasts with opulent furnishings that a buyer might never be able to buy at the early stages of buying a home.  In most cases, the house is sold with everything included, right down to the bed linen, duvet covers and soft furnishings like cushions and table lamps.

Mirrors are a surprising expense for new homeowners and most showhouses use them throughout the house to enhance the light and space available.

Outside the house, the garden is usually architecturally landscaped in a low-maintenance finish (very important for busy families).

In the short-term, showhouses tend not to give new owners  the same teething problems as standard new homes as settling cracks are dealt with as they arise – the sales agent will always ensure the showhouse is kept in top condition throughout its use.  The same principle applies to snaglist issues.  These are generally dealt with as soon as they are identified.

For many buyers, the convenience is irresistible.  You can walk into your new home with a only suitcase and there’s no waiting around.

In the long term, as the glossy interior of any home fades over a few years, the showhouse quality will generally stand the test of time.

We are currently listing a former showhouse and the high-quality fit-out is still evident throughout.

1 Woodlands Drive, Gorey, County Wexford is a superb four bedroom detached home and garden, in excellent condition throughout (asking price €235,000).

 

Kinsella Estates had the privillage of bringing 48.48 acres of prime holding at Ballybuckley, Bree, Enniscorthy, Co. Wexford under the hammer last week.

The land is located less than 1km from Bree and 5.1km from Enniscorthy, across from Wilton House, with 0.3km of road frontage.  Given the high quality of the land, and its suitability to any farming enterprise, a high level of demand was expected.

The auction, which took place at the Riverside Hotel in Enniscorthy last Friday December 16th, was widely marketed beforehand and it was certainly well attended.  The lands were offered in one or two lots in advance of the auction but intensive, competitive bidding on the day ensured that the entire holding went in one lot.

The bidding opened at €350,000 and strong interest in the room meant we received no fewer than 64 bids!

Kinsella Estates auctioneer Michael Kehoe decreed the land to be sold to the highest bid at €662,000,which is over €13,500 per acre.  It was a great result for the seller and for the stellar Kinsella Estates team this close to the holidays.

It takes strong local knowledge, market expertise and relationships within the community to sell agricultural lands – this is where Kinsella Estates can help you.  We understand the market and know the value of land and property locally, more importantly, our marketing expertise will attract the right buyers in order to achieve the best price for you.

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at www.KinsellaEstates.ie .  Alternatively, you can email me directly on michael@www.kinsellaestates.ie or telephone : +353 53 94 21718 to arrange a viewing.

Last chance to buy in the current phase

With the supply of new homes running low across the South East, it won’t surprise local house-hunters to see that only one house remains available in the current phase of Riverchapel Wood.
6 The Parade, Riverchapel Wood is situated within walking distance of the scenic Courtown Harbour and many leisure attractions. This developement has proven popular with both homebuyers and investors, with returns almost as attractive as the views!

Number 6 is a spacious three-bedroom semi-detached house in excellent condition throughout, with a bay window and double doors leading onto the rear garden;  Asking price €137,000.

For more details on the property, check out the listing on :- http://www.daft.ie/wexford/houses-for-sale/courtown/6-the-parade-riverchapel-wood-riverchapel-courtown-wexford-1354836/

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at www.KinsellaEstates.ie .  Alternatively, you can email me directly on michael@www.kinsellaestates.ie or telephone : +353 53 94 21718 to arrange a viewing.

Property Returns

Property Expo 2016 returned to the RDS, Dublin for the first time in almost a decade and the team here at Kinsella Estates were delighted to showcase the best of Wicklow and Wexford properties.  I was delighted to be invited to speak on the New Homes panel discussion, where we talked about the challenges facing the New Homes market – for both the developers and the buyers – and how best to address these challenges.  At a time when supply is seriously low in most areas, it was great to bring two new developments to the show:

gleann-an-ghairdin

Gleann an Ghairdin, Ballytegan, Gorey, Co. Wexford

And

 

2-the-road-riverchapel

Riverchapel Wood, Courtown, Co. Wexford

 

Budget ’17 has brought new homes back to the attention of first-time buyers with the announcement of the new grant/tax rebate but investors and AHBs (Approved Housing Bodies) are all struggling to get their hands on properties at the moment so this is something that we will be talking about a lot over the next 12 months.

The ‘Help-to-Buy’ scheme for first-time buyers really does not go far enough to help, particularly when you consider that the problem is lack of supply.  In other parts of the country, there does not appear to be much goods news on th etopic of new homes but here in South Wicklow and across Wexford, we can see that the market is moving on.  We are speaking to developers about bringing new housing stock to the market and development sites are under consideration.

We will bring you details of new developements as they are announced and as they launch, but in the meantime, do let us know about potential development sites you might wish to bring to the market.  We know the area, we know who is looking for property and, most importantly, we understand local property values.

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact myself (Michael), Alan or Eileen Kinsella at www.KinsellaEstates.ie  or email me directly on michael@www.kinsellaestates.ie and telephone: +353 53 94 21718 

 

 

 

 

propexpo16_011_michael-kinsella

 

Coveney announces transformational housing budget

  • 50% increase in housing budget for 2017
  • Housing needs of over 21,000 being met in 2017
  • Funding for 3,000 exits from emergency accommodation in 2017
  • New First Time Buyers initiative – 5% of purchase price, max €20k

simon-coveney  The Minister for Housing, Planning, Community and Local Government, Mr. Simon Coveney,T.D., today (11 October 2016) welcomed significant additional funding allocated for 2017 to underpin Rebuilding Ireland the Government’s Action Plan for Housing and Homelessness. In Budget 2017, the Government is allocating €1.2 billion to housing programmes, a 50% increase over 2016. Thi

s investment will see the housing needs of over 21,000 households being met in 2017. In addition, local authorities will fund a range of housing services to the value of €92 million from surplus Local Property Tax receipts, bringing the total housing provision in 2017 to almost €1.3 billion.

Speaking after Budget 2017 was announced, Minister Coveney said:

“What I am announcing today represents a transformational budget for housing in Ireland. I said at the launch of Rebuilding Ireland in July that meeting the housing challenge is the key priority for this Government. The package of measures I am announcing with Cabinet colleagues demonstrates the extent of that commitment. The investment provided by the Exchequer and by local authorities will allow us to meet the housing needs of 21,050 families in 2017. As part of this, I am providing an increase of €28m in funding for homeless services, underscoring the particular priority I attach to this issue, including the provision of emergency supports for rough sleepers and ending reliance on the use of hotels for homeless families by mid-2017.

The Budget also contains a comprehensive package of supports for the wider housing market in terms of a significant tax rebate for first time buyers to stimulate the supply of new homes; extension of mortgage interest relief for existing homeowners; and changes to Capital Acquisitions tax The rented sector is a key focus under Rebuilding Ireland and in this Budget we have introduced a number of important supply incentives including improvement in mortgage interest relief for landlords, increase in the ceiling for the rent-a-room scheme, extension of the Living City initiative to rental properties and supports for new student accommodation. This is in advance of the delivery of a comprehensive strategy for the rental sector which I will publish before the end of the year.

Total funding for my Department in 2017 is €1.78 billion compared to €1.38 billion this year. This includes €702m in capital funding – an increase of 48% on 2016 and €1,075m in current funding which is an increase of 18% on this year. Overall, the increase of €394m or 28% on 2016.The bulk of the increase is going to housing which is the Government’s number one priority issue. An additional €2m is also being provided in 2017 for the RAPID programme for disadvantaged areas and a new Community Facilities Fund is being included, with an initial €2m being provided in 2017.

The proposed Department Vote 2017 is €1.777 billion (€702m Capital and €1,075m Current) an increase of nearly 30% since 2016 (€1.383 billion).”

 

Detailed breakdown of each sector

Housing Delivery

  • The total exchequer Housing allocation in 2017 will be €1.2 billion. This is broken down into €655m in capital and €566m current funding.
  • This compares to €814m in 2016 (€432m Capital, €382m Current). This is an increase in the total Exchequer allocation for housing of €400m, which represents a 50% increase over 2016.
  • Local Authorities will also provide funding for Housing in 2017 (LPT self-funding) amounting to €77m Capital and €15m Current. This will bring overall housing allocation to 1.3bn
  • Funding under the Housing Programmes will deliver 21,050 units in 2017 through the full range of social housing supports.
  • Increased funding for the provision of housing adaptation grants will enable some 9,000 grants to be made in 2017, thereby assisting older people and people with a disability to remain in their own homes and communities.
  • Capital of €9m is to be provided in 2017 for Traveller-specific accommodation, an increase of 64%, which will also support the carrying out of fire safety works in traveller accommodation.
  • An additional 400 dwellings have been targeted for Pyrite remediation in 2017 through investment of €22 million.

Capital

A total capital provision of €732m (Exchequer provision up 51% on 2016) has been allocated in 2017 and will support the delivery of 4,450 units through the Local Authority and AHB construction and acquisitions programme.  This also includes Rapid Builds, units to be delivered through Part V mechanisms, returning vacant units to productive use and delivery of new units under the National Regeneration Programme.

Current

A total provision of €581 million has been allocated in 2017 and will support the delivery of 16,600 units through:

  • An allocation of €152.7m (+€105m on 2016) for the Housing Assistance Payment which will enable a further 15,000 households to be accommodated and also support the ongoing costs of 17,000 existing HAP tenancies;
  • Funding of €134 million will support a further 1,000 new transfers under the Rental Accommodation Scheme; and
  • An increased funding provision of €84 million (+€27m on 2016) under the Social Housing Current Expenditure Programme will support the delivery of 600 direct leased units in 2017.  In total, 2,250 units will be delivered in 2017 under the Social Housing Current Expenditure Programme

Homelessness

  • A 40% increase in homeless funding from €70m this year to €98m in 2017 will ensure that the increased demand for emergency homeless services is effectively addressed and will assist in supporting homeless households with long term and sustainable housing solutions.
  • The increased budget reflects the additional costs of emergency accommodation and homeless services until the housing and homelessness actions & initiatives in Rebuilding Ireland results in hotels only being used as emergency accommodation in limited circumstances by mid-2017.
  • In 2017 through a range of funding mechanisms, there will be provision for 3,000 exits from emergency accommodation achieved through mainstream social housing tenancies, rapid build houses and the Housing Assistance Payment.
  • The increased budget will assist towards the tripled target of moving 300 people from homelessness into supported tenancies in the Dublin region through the Housing First programme and its extension to other major urban areas.
  • These measures will be supported by increased funding in the areas of mental health and addiction from the Department of Health and additional supports for children and families in from the Department of Children & Youth Affairs.

 

Increasing Supply

First Time Buyers – Help-to-Buy, Mortgage Interest Relief, CAT

  • 5% tax rebate for first time buyers of new builds up to €400,000. This is a supply side driver that will be available from 19 July to end 2019
  • Maximum rebate of €20,000 applies to properties from €400,000 to €600,000.
  • No rebate for properties above €600,000.
  • Extension of mortgage interest relief beyond 2017.
  • Increased threshold from €280,000 to €310,000 for transfers from parents to children in respect of Capital Acquisitions Tax.

Local Infrastructure Housing Activation Fund

  • €200m fund to relieve critical infrastructural blockages and enable the delivery of large scale housing on key development sites.
  • This has the potential to open up lands and deliver housing of the order of 15,000 to 20,000 units by 2019.

Planning

  • Additional funding is being provided to An Bord Pleanala to support implementation of the new fast-track measures for streamlining the application process for large residential developments, in line with commitments in Rebuilding Ireland.

 

Bringing vacant properties back into use

Housing Agency Rotating Fund

  • The Housing Agency is being provided with €70m capital funding to engage with banks and investment companies to acquire properties for social housing nationally.  This will deliver 1,600 units over the period to 2020.

Repair & Leasing Initiative

  • New Repair and Leasing Initiative will allow local authorities to provide financial assistance to property owners to bring vacant properties up to standard which can then be leased for social housing.  Capital provision of €6 million in 2017 will deliver 150 units under this new initiative.

Buy & Renew Initiative

  • A new Buy and Renew initiative will support local authorities and approved housing bodies to purchase private housing units in need of remediation, renew them and make them available for social housing use.  An initial capital provision of €25 million will be available for this initiative in 2017.

Living City Initiative

  • Changes designed to increase uptake. Maximum floor area restriction is being removed. Requirement for properties to have been used as residential dwelling to avail of support is also being removed, and qualification thresholds are being changed.

Local authority voids

  • 800 vacant units will be brought back into use in 2017.

Supporting the Rented Sector

  • Mortgage Interest Relief to be fully restored from 75% to 100% over a five year period. Increasing from 75% to 80% in Budget 2017.
  • Extension of Living City Initiative to landlords to support investment in rented market.
  • Rent a Room ceiling increased from €12,000 to €14,000.
  • Strategy for the rental sector will be delivered by end 2016 – work underway at present.

Student Accommodation

  • New ISIF support for new investment in student accommodation
  • Rent a Room ceiling increased from €12,000 to €14,000
  • Higher Education Institutions accessing low cost loan finance from the Housing Finance Agency.

Home Renovation Incentive

  • 2 year extension of relief until end 2018 to allow homeowners avail of income tax credit of 13.5% incurred on repair, renovation, or improvement work carried out on residential dwelling.

Community

  • €78.2m is provided in 2017 for Community Programmes (€9.6m Capital and €68.6m current) – an increase of 10% on 2016.
  • The bulk of the funding relates to Supports for Community and Voluntary Sector (€12.3m) and SICAP (€42.4m).
  • Additional funding is being provided in 2017 for the RAPID programme (€2m) and a new Community Facilities Fund (€2m)

Water Services

  • €46.5m (Capital €23m and Current €23.5m) is being provided in 2017.
  • The bulk of the Capital funding (€17.8m) relates to the Rural Water Programme
  • Current funding is provided to support initiatives under the Water Quality Programme. The main focus of this programme is to provide funding for Water Quality, primarily the investment in statutory environmental and public health compliance.

Local Government

  • €385m is provided in 2017 under Local Government Programmes (€8.5m Capital and €376.6m Current)
  •  The Capital expenditure relates to Fire and Emergency Services
  • Current Expenditure relates to Franchise (€1.4m), Fire and Emergency Services (€800k) and a payment from the Exchequer to the LGF of €365m

ENDS

Huge thanks to everyone who came along and supported our East Coast FM Coffee Morning to raise money for cancer services throughout County Wicklow.  I am delighted to say that the team here at Kinsella Estates, together with our clients and friends raised €960 so far, with more money still coming in daily.

This is a great sum raised for a great cause – we were delighted to get involved this year and genuinely appreciate the support locally.

Thank you all,

Michael, Eileen and the team here at Kinsella Estates

Coff morn balloons

East Coast cheque