~ Michael Kinsella, KinsellaEstates.ie Gorey & Carnew

With the sun shining, inbox pinging and phone lines ringing, it does not feel like we are only into our third week of 2020. The team here at Kinsella Estates are experiencing a busy and vibrant start to the property year with plenty of activity amongst both buyers and sellers across the South East.

As we enter into a new year, and indeed a new decade, now is a good time to take stock of the residential property market locally and map out projections for 2020.

WEXFORD

According to the Irish Independent property price report published last week, prices across Wexford county are forecast to stabilise and “remain static” for the next year.  This follows 12 months of moderate growth. Average house prices in County Wexford increased by 5 percent since January 2019 and this growth was driven mainly by an increase in new rural housing. In Gorey, this growth figure was closer to 2 percent. In fact, Gorey has been the star performing market in Wexford with prices reducing significantly the further south you look.  As we start 2020, achieved sales prices of second-hand homes are approximately 15 to 20 percent lower in Enniscorthy than in Gorey, and lower again in Wexford town. This is largely due to the M11 motorway and improved commuting times from Gorey to Dublin.  

According to the National Property Price Guide published in The Sunday Times at the start of the year, you can expect to pay €180,000 for a second-hand, two-bed apartment in Gorey. While the year-on-year increase works out at about €5,000, if you look back 24 months to January 2018, the same property was costing almost €30,000 less. €5,000 may not be a big jump in 12 months, but a €30,000 jump in 24 months is notable… what investor or fortunate homebuyer wouldn’t be happy with that performance?  It is not just apartments that have seen a big jump over the past two years, three-bed bungalows locally have increased €50,000 over the same period. Growth for three-bed semis was more tempered, which is unsurprising given supply of new homes to the marketplace; recorded prices for three-bed semis increased from €270,000 in 2018, to €275,000 in 2019 and €280,000 in January 2020. 

WICKLOW

As always, County Wicklow is a more nuanced marketplace, with rates of activity and price levels higher the closer you get to Dublin’s M50 motorway. Looking solely at the southern part of the county – serviced by our Carnew office – this is one of the lesser known regions for would-be homebuyers who often assume that market prices here are similar to those in north County Wicklow and this is simply not the case. There is still excellent value to be found in many of the small towns and villages in the south of the county. These homes offer a greater degree of privacy and natural amenities, while still being within a comfortable commute of the capital.

Staying with the National Property Price Guide in The Sunday Times, second-hand two-bed apartments in and around and Aughrim have seen steady growth from 2018 to 2020, increasing from €130,000 in 2018 to an average price of €150,000. In more rural locations, we have seen a jump of approximately €50,000 over the past  24 months. In 2018, you might have expected to pay €270,000 for a three- bed bungalow, however, fast forward two years and achieved prices are closer to €320,000.  Anyone interested in exploring the South Wicklow market is encouraged to contact Kinsella Estates in Carnew for a full listing of available properties (both on and off-market) and details of local schools and amenities.

The last decade has been the most tumultuous one for the Irish property market in more than a generation. While we certainly do not have a crystal ball, it is fair to say that restrictive macro-prudential Central Bank lending rules and a more cautious approach to property development means we are in for a more predictable – but still cyclical – property market in 2020.  

For your FREE, no obligation, valuation in the South Wicklow and North Wexford area, 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

Kinsella Estates’ Top Tips for Bringing Summer into your Home

For your FREE, no obligation, valuation in the South Wicklow and North Wexford area, 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 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

Earlier this week, the Department of Housing published new draft guidelines for apartment developments and the reaction has been mixed, at best.  The headlines ran with announcements that car parking will no longer be a requirement, also, more apartments per floor area will be allowed.

Understandably, home buyers were quite panicked by the news, however, just to reassure buyers in Wicklow and Wexford, car parking has only been done away with in areas with good public transport connectivity  – we don’t need to worry about that for the moment, unfortunately.

The rationale behind the move is to make apartment building more cost-effective, which is hoped will speed up the supply of new homes to the market right across the country and to make those new homes more affordable for intending buyers.

While more homes will be allowed in a single development, these are likely to be smaller as the market is apparently demanding more studio and one bed apartments.

One of the other interesting concepts introduced is called ‘shared living’.  This essentially provides for people having their own en-suite bedroom and then sharing kitchen and living space.  This is already being done for student accommodation, costing up to €1,000 per month in Dublin, Cork and Galway.  The important thing to realise is that we are not talking about going backwards to bedsit-living in damp, old period houses; these co-living spaces are state-of-the-art, beautifully designed homes for people who are renting or, potentially, buying at the lower end of the market.  The driving force is to offer greater choice, which is something that we do not have much of in the current market.  We tend to go between two-bed apartments in the city, to three-bed semis in the suburbs and then dormers dotted around the countryside.  Buyer demographics are changing, in fact, I would go further to say that buyers themselves are changing.  People want choice and they need an option that suits their particular stage in life. Not every thirty-something year old wants to rent but yet might not be ready for a three-bed semi-detached house in suburbia!  Also, reports last week revealed that divorce in Ireland has increased 25% over the past three years.  One of the explanations for this is that middle-class people can now afford to separate, whereas, this was simply not an option in the early stages of our economic recovery.  This is representative of a new type of long-term tenant and a new type of buyer who requires a smaller, more affordable type of living arrangement.  As society changes, our housing stock must change to fit the needs of modern living – of course, planning should really be a step ahead in pre-empting and providing for those changing housing needs.

Just to let people know, these new guidelines are in draft only.  There will be a public consultation period from January for people to contribute their opinions before the changes are incorporated into the Ireland 2040 National Planning Framework/NPF. As a nation, we tend to give out about planners quite a bit so maybe now is a good time to get involved with the decision-making and have our say heard.

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 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

Earlier this week, the Institute of Professional Auctioneers & Valuers (IPAV) for Ireland published their ‘Residential Property Price Barometer’, which gives a breakdown of prices for two-bed apartments, three-bed semis and four-bed semis across every county in Ireland.  According to this most recent research, the cost of  an average family home in Dublin is now €527,894 – more than double that of the national average three-bed at €253,466.   Wicklow remains the most expensive area outside of Dublin, followed by Kildare and Meath.  Counties Longford, Sligo and Leitrim recorded the lowest house prices nationally.

The current average prices for County Wicklow and County Wexford are as follows:

On average, two-bed apartments in County Wicklow are coming in at €202,750, the highest apartment prices outside of Dublin by quite a significant margin.  Three-bed semis are achieving an average of €275,591, while four-bed semis are making €344,036.

Similarly, across County Wexford, two-bed apartments are achieving an average sale price of €83,334, with three-bed semis making €145,000 and the four-beds getting, on average, €171,667.

The stand-out surprise is the unexpectedly strong performance of Wicklow apartments.   Of course, we know that lack of available stock – in particular, houses –  and delays with any new stock coming to the market is still the driving force behind the rising prices.  Construction across the country, including the South East region, is nowhere near the level required at this stage.  While the industry is set to deliver up to 20,000 homes per year by 2018 (which is up from just 12,666 in 2015), this is not happening quickly enough to meet current or immediate demand within the commute region.

As we watch for the delivery of new homes, it is worth reflecting on changing buyer trends in recent years.  For example, here at Kinsella Estates, we can see that house-hunters have never been more organised, better researched or as familiar with the market as this current generation of buyers are.  They are knowledgeable and well-informed, however, their expectations of quality and energy efficiency are much higher than their predecessors and developers need to be mindful of this.

With such a dearth of new homes available, particularly here in South Wicklow and North Wexford, it makes sense for home buyers – whether they are looking for their first home, trading up or perhaps downsizing by the coast – to consider purchasing a second-hand home.

Traditionally, September has always been the height of the selling season.  Over the past decade, the market has definitely become less seasonal and more opportunistic.   The reality is that homes coming to the market locally are being presented to known buyers.  Through our offices in Carnew and in Gorey, we know buyers who have been looking for the last few months and when we visit a home to appraise it for sale, very often, we have a good idea of who the buyer is likely to be.  This can help speed up the sale process, which is good news for the seller, but more importantly, by knowing the buyer, their budget and their capacity to close the deal, we can add a greater degree of certainty at a time when sellers need it most.

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 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 latest round of Irish residential property price changes has just issued from the Central Statistics Office, or CSO, and the trend from the last few months continues.  While average prices nationally are up 11.6% year on year, prices outside of Dublin are growing at a faster rate than they are around the capital.  The breakdown is as follows: property prices throughout the rest of Ireland (i.e. not including Dublin) were 11.8% higher in the 12 months to June, with the increase for Dublin 11.1%.  This puts annual inflation at 11.6%, which is the fastest pace in two years.

When we look further into those average figures, it appears that the South East region (including Wicklow and Wexford) showed the greatest house price growth with an increase of 16.7% – almost double that of the Mid West and significantly above Dublin rises.

In terms of recovery, prices in the South East region have increased in excess of 50%  since the recovery began in 2012/2013; however, they remain approximately 35% below peak/2007 prices.  RTE and Irish Times commentary on current Irish house price inflation attributes the pick-up to “the robust economic recovery”, increased mortgage lending, relaxation of the Central Bank deposit rules for home buyers and the Help-to-Buy (HTB) scheme – which, incidentally is under review and in threat of being axed.

If all this talk about rising house prices locally has made you think about selling, you might be interested in the following article:  How to Know When it’s the Right Time to Sell

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 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       

When the team here at Kinsella Estates are arranging viewings at our client’s homes, we generally try to give  at least 24 hours notice.  This is standard practice across the industry but sometimes, the right potential buyer comes along but is only in town for the day.  We know it’s not ideal but it’s better to rally – even when it’s inconvenient – and not let the opportunity pass.

This is increasingly the case when buyers are flying into Ireland for a few short days of house-hunting or taking an impromptu inspection trip of the area and come across our ‘For Sale’ boards – yes, even in this digital era, these boards are important and still effective.

So, sometimes, we need to make that call to a seller, even though we know it’s probably not convenient, to say “can we swing by your place in an hour with buyers?”  But here’s the thing, this is usually a good thing.  We only do this for cash or mortgage-ready buyers who have already looked at your home online and like what they see.  We promise!

We know your home is (usually) lived in and that means all the signs of being lived in; cooking, visiting family members, kids toys, dog hair (even though you swear they are outdoor pets…) and more.  It’s okay.  But we do understand that you want to showcase your home at its best so here are some last-minute, quick fixes to welcome potential buyers:

• Do a quick scout of the whole house, room by room, so you can open windows and remove dirty washing, glasses etc as you move through the house.

• Then focus on the important rooms first; entrance hallway, kitchen and master bedroom

• If you’ve been cooking, make sure that no odours linger – even if it tasted good, it’s not likely to entice people after the fact. Of course, if you’ve been baking, then lingering is just fine – so are samples.

• Speaking about smells, one simple trick we discovered years ago is that tumble dryer sheets are wonderfully effective to line bins all around the house – fresh but not over-powering.

• Make sure the bathrooms are clean and clutter-free, with fresh towels and a scented candle lighting.

• Since the windows are open for fresh air, be sure to turn on heating if necessary (we don’t endorse energy waste so just this once!).

• If it’s a dull day, have the lights on in each room to welcome the viewers.

• Do a quick sweep of kitchen surfaces to get rid of paperwork and unnecessary clutter.

• If you have time, pop out to the garden and pick a few flowers for the entrance hall.

• Finally, and this really should have been first – enlist the help of anyone to hand, delegation is the key.

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 kinsellaestates.ie . 

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

Don’t you just love when summer arrives right at the moment it’s due?

It’s certainly a rarity in Ireland – although here in Ireland’s sunny South East we can boast the most hours of sunshine per year compared with any other part of the country.  That is probably why sales transactions soar in summertime.  In fact, in last weekend’s Sunday Business Post newspaper, a report on commuter counties placed both Wicklow and Wexford high on the list of buyers’ destinations, with recorded increases of 17% and 13% respectively.  Carlow, Kilkenny and Waterford have all seen reductions in demand over the last 12 months.  This makes for an interesting time in South Wicklow and Wexford county right now as demand increases by supply has yet to catch up.  House-hunters, especially those looking for family homes will need to widen their search areas/criteria and be prepared to engage in competitive bidding.

The real opportunity exists for sellers of second-hand homes and those thinking about bringing a residential property to the market over the next few weeks and months.

For existing sellers who are waiting for the right buyer to come along, it might be worth going through the tips below and freshening up their homes and perhaps update the property listing and photos online.

Tips for summertime property sellers:

1. The notion of ‘kerb appeal’ is a cliché but that doesn’t make it any less relevant. The initial impression that your home creates as a potential buyer pulls up is difficult to change so it’s important that the impression is the best one possible.   This applies to the photos that appear online also.  They should be clear, bright and clear of clutter.

2. As a rural estate agency, we understand the importance of giving good, clear directions to your home. Eircode has not been hugely successful but marking properties on a digital map makes it easy for house-hunters to use GPS when arriving for a first viewing. That’s our job.  As the seller, it’s your job to ensure that if your property has a house name or number, that it is clearly marked.  If would-be buyers get lost trying to find your property, by the time they arrive, late, they will be too stressed and frustrated to fully appreciate the presentation of your home.

3. The front door should be thoroughly cleaned or freshly painted and clear of dust and cobwebs. Choose the colour well, be sure to reflect the tone of your home for example, yellow for youthfulness, blue for calm and red for a warm welcome!  If possible, the entire front of the house should be freshened up but we understand that this is not always possible.

4. Following on from the point above, if resources are limited, allocate them wisely; concentrate on the areas that will have the most impact. For example, wash the windows and scrub or repaint window frames.

5. Tidy the front garden, sweep pathways, trim hedges and pull weeds. If flowers are not an option, invest in a few well thought out planters to add colour and to create an abundant feel.  Put wheelie bins away, out of sight if possible.

6. Treat your entrance like a room of its own with a good design, clutter-free, and with some light furnishing or focal piece – like a hall table with flowers (and nothing else!).

7. Once inside, continue the fresh, clutter-free theme and remove unnecessary, bulky furnishings. In fact, this might be the right time to start preparing for your impending move.

Here at Kinsella Estates, we offer a free sales appraisal and with this, we offer key suggestions about how to best present your property to suit the type of buyer your home is likely to attract.  Contact us directly to discuss your home and to arrange an appraisal.

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 kinsellaestates.ie . 

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

Budget 2017 announced the Help-to-Buy scheme, which has proven controversial within the industry, to help intending first-time buyers to put together the deposit required to purchase or self-build their new house or apartment.

The scheme works by way of an income tax and DIRT tax refund, in respect of payments made over the previous four tax years. There are three types of applicants who can apply for the Help-to-Buy scheme, namely:  retrospective applicants or buyers whose contracts are signed between 19 July 2016 and 31 December 2016; first-time buyers whose contracts are signed between 1 January 2017 and 31 December 2019; and first-time self-build applicants building between 1 January 2017 and 31 December 2019.

Eligibility:

1. The buyer must be a first-time buyer, specifically, the buyer must not have either individually or jointly with any other person (directly or indirectly), previously purchased, or built a property.  Where more than one individual is involved in purchasing or building a new home, all of the individuals must be first-time buyers.
2. The house or apartment must be a new-build (may be self-built)
3. The purchase must be dated between 19 July 2016 and 31 December 2019
4. The property must have been purchased or built as the first-time buyer’s home and not acquired for investment purposes.
5. The property must be occupied by the first-time buyer, or at least one of the first-time buyers in the case of multiple first-time buyers (a group), for a period of five years.

How to apply:

• Registered for myAccount (PAYE) or ROS (self-assessed)
• PAYE taxpayers will need to complete Forms 12 (available through ROS) for the tax years selected for refund
• Self-assessed taxpayer will need to complete Forms 11 (available through ROS) for each of the four years immediately prior to the claim. Please not that any outstanding taxes must be paid.

    In order to apply for the scheme/refund, buyers must enter the following information online:

• Property details including address and price
• Details of each first-time buyer and refund agreed
• Developer/Contractor details or
• Details of the Solicitor if self-building
• Upload a copy of the signed
• Balance of the deposit to be paid
• Contract completion date
• Mortgage details
• For self-builders, proof of drawdown of the first mortgage tranche payment

All details must be verified by the Developer/Contractor in the case of a new build, or by the purchaser’s Solicitor in the case of a self-build, before the refund can be paid out.

  For further details on the scheme, contact the Office of the Revenue Commissioners

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 kinsellaestates.ie .  Alternatively, you can email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718 to arrange a viewing on our qualifying new builds.

Originally published in the Gorey Guardian, December 10, 2016.

The busy construction team at Gleann an Ghairdin, the new estate being built on the Ballytegan Road, Gorey, recently hosted a group of fifth year construction studies students from Gorey Community School.

Accompanied by their teacher, Pat Hegarty, the 20 students were given a full tour of the site which is being developed by local builders Wexford Low Energy Homes. The development is made up of three-bedroom semi-detached and detached A-rated houses.

The students were shown around the site by selling agent, Michael Kinsella of Kinsella Estates and Nicky Morrissey from Wexford Low Energy Homes. They were shown houses at different stages of construction and saw foundations being poured, inspected houses being roofed, and viewed those being prepared for plumbing and electrical fittings.

Finally, the students became the first Gorey residents to look inside the showhouse on site before it opens to the public next week.

As construction was ongoing while the group was on site, safety was paramount and the students were kitted out with safety gear and got a practical lesson in safe on-site behaviour.

Foreman Nicky answered questions on every aspect of the build. The specialist low-energy home builders are using technology that the students would only have read about.

‘They were really engaged,’ said Michael Kinsella. ‘Many had never seen the inside of a building in progress. A site visit like this opens their eyes to new technologies and new ways of building for the future.’

This site visit comes at a time when the construction industry is struggling to fill jobs at all skill levels and is actively trying to promote the apprenticeship route for future tradespeople and construction-related third level courses for those who are college and university-bound.

‘It was excellent. I was really impressed with Nicky,’ said teacher Pat Hegarty. ‘The class had prepared questions for afterwards but he answered all of their questions during the tour.’

The showhouse will open for viewings on Saturday, December 10, from 1.30 p.m. to 3 p.m. See kinsellaestates.ie for more.

Here at Kinsella Estates we love what we do and the best part of our day is when we hand new buyers the keys to their dream home!

“Thank you for all work in getting us the keys to our new home.

Michael was very professional and always went above and beyond for us always 

The staff in the office were brilliant and always got back to us.

We would highly recommend Kinsella Estates to anyone buying a new or second home.”