As recovery rolls out across the South East, we look at how the local market performed last year and what we can expect in 2017.

Last year saw the appointment of our new Housing Minister, Simon Coveney and his ambitious plan: ReBuilding Ireland. The unveiling and widespread acceptance of this plan was probably the highlight of the property year – along with a relaxing of the Central Bank mortgage deposit rules –  but there were many, many lows. Without doubt, chronic lack of supply remains the critical issue and this is seen in the rising rental prices, record homelessness and a seeming stalemate within the developer community meaning that new supply remains well below demand for the third consecutive year. In particular, demand for housing in the capital increased by 10% while supply increased by a mere 1%.

Rentals prices increased nationwide by an average of 12% but Dublin and Cork saw increases of double that in key areas. An eleventh hour bill put forward by Minister Coveney – despite opposition from partners in government – aims to slow the rate of increase for the next three years to start with.  Rent caps of 4% per year introduced for the Dublin area are likely to spread to other urban areas over the next few months, north Wicklow will be first in line for that but south Wicklow and Wexford are not expected to face rental caps this year (unless universal application, as called for by Fine Fail, makes its way into legislation).

As for the first time buyers’ help-to-buy tax rebate scheme, whether this is a high point or a low point, really depends upon who you listen to.  The practical reality is that this initiative will only apply to a tiny proportion of buyers in today’s market.  If the government really wanted to impact the market, they would not have taken such a scenic route to avoid the perception of helping the developers.  The truth is that encouraging developers is exactly what is needed to get new housing units delivered as quickly as possible. This is something that the Minister has talked about and he has pledged to address the issue of building costs in the early part of 2017.  One effective way to do this might be to help bring down building costs by reducing the VAT rate, even temporarily, as we saw in the hospitality sector.  Unless building becomes commercially viable for developers and construction companies, there is no reason for them to take the risk.

But this needs to change.

From 2015 to the end of last year, the number of property purchases in Wicklow decreased from 1,402  to 1,271, mainly due to lack of supply rather than lack of demand, as evidenced by the price increases locally. A similar situation was seen in County Wexford where – despite price increases – the volume of transactions were down year-on-year  from 1,663 to 1,471.

With the population in a state of increase, employment continuing its upwards trajectory and mortgage funding in more plentiful supply than we have seen over the past eight years, demand is surging.  But without new housing, there is no way to service this demand.  Until new supply hits the market, prices will increase as competing buyers pay a ‘scarcity premium’ for any available homes in the right areas.

At the moment, for buyers, there are currently fewer than 700 available properties in County Wicklow and just shy of 1,100 available in County Wexford, that’s between six to nine months worth of supply. New homes are needed to bridge the gap between supply and demand as a matter of urgency.

Click here to view all of our new and second-hand homes in Counties Wicklow and Wexford.

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.

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.

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

Earlier this week someone asked me about ‘the selling season’ and I had to stop for a moment and think about it.  Certainly, there used to be a traditional selling season at the start of Spring but over the past decade this has definitely fallen away.

At the moment we are still effectively in recovery mode; while it is true the marketplace has improved and we are seeing a greater number of transactions, there is still a bit of uncertainly about.  Of course, reading newspaper reports about the Dublin market when you are trying to sell in rural Wicklow, Carlow or Wexford doesn’t help matters!

  There are lots of myths about when is the best time to sell but the truth is usually simpler; the best time is when the seller is ready.  Of course it’s great if supply and demand coincide but this is not always practical, or even likely.  Transactions happen throughout the year.  It’s certainly true that Spring is a popular time to sell as the days are getting longer, gardens are in bloom and people are generally around, without the interruptions of summer holidays and the distraction of Christmas.  But does that mean you should wait until after Christmas to put your home or investment property on the market?  Not necessarily.

Over the chaos of the past decade, savvy buyers have realised that Winter can be a great time to go house-hunting for many reasons.  Firstly, there are fewer competing buyers, secondly, there is a perception that sellers are eager to sell and therefore open to potential discounts.  Both of these reasons sound bad for sellers but perhaps not.  The truth is, if you need to sell your property this side Christmas, it might financially make sense to price it keenly.  If not, you are still assured that there will be fewer time-wasters turning up at this time of the year so while the number of would-be buyers viewing your property might be less than at other times, the quality and intention of those buyers who visit is likely to be stronger.   In fact, buyers tend to find the run up to Christmas quite frustrating as sometimes even active sellers with active property listings don’t allow viewing to take place over the festive season.  This is never a good idea.  Once your property is on the market, it needs to be accessible to finance-ready viewers.

So, my answer to ‘the selling season’ question is simple, sell when you are ready.  Trying to time the market will backfire if it’s not the right time for you and your family.  But if now is the right time, talk to the team here at Kinsella Estates and we will help get you and your property ready without delay.

With less than two months to go before the end of the year, it is certainly possible to attract a buyer although getting the conveyancing through this side of Christmas might be a challenge.  For many buyers and sellers at this time of the year, it is enough to reach agreement and sign Contracts for Sale so that both parties know their plans coming into the New Year.  So, if you are looking to bring your home to the market this side of Christmas, it will necessary to be prepared; let your conveyancing solicitor know to take up title deeds and prepare contracts straight away; have your home and garden looking its very best and, most importantly, be ready to accommodate viewings as soon as the property is listed.

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 kinsellaestates.ie . 

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

Last month, the team here at Kinsella Estates was nominated for the Littlewoods Ireland Blog Awards 2016 and we were delighted to be shortlisted!  In fact, we are the first estate agency in Ireland to ever make the shortlist so huge thanks to the awards sponsors, organsers and everyone who voted.  We see  this as a signal of interest in property news locally and in the market generally so we are happy to share the information.

Shortly after this, we were asked by Irish Property Developer Magazine to give a behind the scenes look at how we market properties for clients in the digital era.  You can read the interview here and feel free to let us know what you think:

Estate Agents:  Behind the Scenes

This month Irish Property Developer met with Wicklow and Wexford-based estate agent, Michael Kinsella.  Michael continues building the legacy auctioneering practice that his father founded almost five decades ago, together with family members and a team of staff from offices in Gorey and Carnew. 

kinsellaestates.ie

                                                                                      

1. Are the traditional marketing methods e. for sale boards, newspaper advertising etc still relevant when marketing property for sale in today’s market ?

 

I am proud to say that our family has been serving the local community for over 50 years. Through that 50 years, we have witnessed a big change in the property business in general, and even our own business model.  In the early days, for sale boards were the main marketing tool available. We would produce  a property brochure in the office, containing the basic information about the property etc. In those days there was no such thing as BER rating’s etc and the information in the brochure was very basic. Buyers would also see properties listed in the window of the office on the main street.  We would also place adverts for auctions and houses for sale in the local newspaper, which cost a lot of money back then and took a lot of time and effort.

While there is a perception that buyers only find properties online through property portal websites like Daft.ie or MyHome.ie, the truth  is that the traditional ‘For Sale’ are still very effective as a selling tool.  These boards have not changed much at all over the years. They are made of corrie-boards and wood. From an agent perspective, they are cost efficient and more importantly, very effective. In addition to attracting attention to the property for sale, they also help us maintain and promote  our brand locally.  We still use newspaper advertising but definitely not as much as in past times. Property for sale through auction will always be featured in local, and sometimes national, newspapers. We do run regular property adverts in the local paper for certain properties, many times this translates into some editorial coverage of the property in the local newspaper property features.

 

 

2. How has digital/on-line marketing impacted on the company’s marketing communications strategy ?

 

We list all properties for sale on Myhome.ie and Daft.ie,  and both  have had a huge impact on our marketing strategy. While we are based in the South East, we get a huge amount of enquiries through the internet from people living in Dublin and Kildare etc. These sites give our company great reach to a much wider target audience.  We have recently launched our brand new website; a huge amount of resources went into doing this well because, as local estate agency, we understand the importance of showcasing our clients’ properties and attracting buyers from outside of our locality.  I studied property marketing as part of my Auctioneering Degree and I recognize how critical it is to not only have a website, but that it must be optimized for mobile use. I believe that we have to use the technology available to us, to continually improve our business. Standing still is not an option for any property business today. The marketing focus within the company continues to grow, whereas years ago marketing was just one of many functions that was carried out.

 

3. Does the company have a mobile marketing strategy ? If so, why

 is this important?

We do have a mobile marketing strategy.  In fact, we have just launched our new website, which has been optimized for mobile usage as we recognise the growing trends away from PC and desktop  use towards mobile. The web design company that built the website, 4PM (www.4pm.ie ), also use the latest search engine optimization tools available to ensure that we are always placed high up the search rankings.  We have a number of features that we hope to roll out over the coming months, which I don’t want to reveal now, but these features will provide us with a website that will be right up to date in terms of the latest features available.  It is important also that our clients know that we have beenhere for 50 years and hope to be here for another 50 years, and the only way we will do that is by continuing to office first-class service to our clients.

 

 

 

4. (a)Which of the following on-line/mobile marketing tools does the company use ?

 

Mobile optimized website	Yes
Search Engine Optimization (SEO)	Yes
E mail marketing	Occasionally
Property portals	Yes
SMS	Only with existing clients & buyers
QR codes	No
Mobile Apps	Yes
YouTube video platform	Yes
Facebook	Yes; Profile & Page
Social media	Yes
Twitter	Yes

 

 

We have a website optimized for mobile devices. We also use  search engine optimization. We use the property portals. We use social media and e mail marketing.  Our Social Media strategy really started to pay off  last year, when we launched a blog on our website.  All posts are circulated across our social media platforms.  This boosted our likes/followers and fans; more importantly, increased engagement gave us the opportunity to showcase our expertise across the Wicklow and Wexford markets.

 

In fact, Kinsella Estates were the only Estate Agency in Ireland to be shortlisted for an award in the Littlewoods Ireland Blog Awards 2016.  We were delighted to be shortlisted in the ultra-competitive ‘Lifestyle’  category.

 

(b) Any other ?

We do try all platforms to test and measure what works best, for us that’s the blog and our Facebook page but we are always interested in learning more!

 

5. What are the most important marketing tools from the list above ? Why ?

 

The property portals are the most important, as I explained earlier. They provide a single market place, where we can list properties cost effectively. We know from experience how successful these sites are at delivering leads and enquiries.

 

Our website is also an important marketing tool, it also attracts a lot of visitors. It is part of our marketing strategy that  it is updated daily, and that content is kept fresh. Research has shown that visitors to a site get frustrated when a site is not updated etc. While this takes time, effort and discipline it has to be done.

 

6. What has been the biggest benefit that the on-line/digital/mobile technologies have brought to marketing residential property for sale ?

The quality of the information that we can present on a property. We can have beautiful digital photography, property videos can now also be uploaded. Brochures can be down loaded from the internet also.  Our focus is definitely on video footage at the moment, for both the website and for our social media content.

 

 

7. How has digital/on-line marketing impacted on relationship with vendors and customers ?

We put a huge amount of resources into marketing Kinsella Estates and marketing the properties we sell. A professional website puts us on an elevated platform with our clients and customers. It showcases our expertise, which gives our company a competitive edge in a very competitive market. Using social media allows us to reach a wider target audience and provides an opportunity to communicate with our customers.  Our clients and customers are more knowledgeable nowadays, and they have a higher expectation of the service they want. We strive to meet and surpass their needs, and we are always keen to embrace marketing methods, customer relationship managements tools that enable us to deliver better service to our customers.  We are committed to keeping up with technology and property trends; what’s good for our clients is good for the market.

 

Most people, when they hear the word ‘auction’, they automatically think of land or property but licensed auctioneers are actually involved in selling a host of other stock – including livestock – for a range of private and commercial sellers.

Here at Kinsella Estates, we have been involved in the auction business for almost 50 years from our base in the South East. While we now have offices in Carnew, County Wicklow and Gorey, County Wexford, we acquired a yard in Carnew back in 2010 especially for our furniture, plant and machinery auctions. When we use the term ‘Plant’, we are referring mainly to heavy duty building or construction equipment, while ‘Machinery’ is generally made up of farm equipment.

During the recession and throughout this stage of recovery, we got repeated requests from businesses who needed to we sell off machinery, plant and trade tools in order to raise or recoup money. On the basis that Kinsella Estates had its origins as part of a livestock mart going back many decades, we have extensive experience holding auctions. Perhaps more importantly, our contacts and relationships within the local farming community mean that we can attract the right bidders on the day!

Typically where a group of farmers get together in an area and request us to sell machinery on their behalf, we would invite outside lots with the permission of the relevant parties. At previous auctions, we have offered a number of lots for sale on behalf of seller clients but other sellers also brought along their own lots that they wished to sell on the day.

Another example of the type of non-land auction activity we are involved in might be for farm contents (separate to selling the farm holding itself). Over the years we have sold many farms and the vendors or beneficiaries often request that we sell the farm contents.

A successful auction has, at its heart, the right bidders in attendance. This is where our experience and network of contacts add value. We target our advertising to reach the relevant audience. This involved a mix of newspaper advertising, signage, an email/text campaign and the all-important word of mouth. We attract a large volume of crowds from all around the country. We are proud to have significant repeat business from both buyers and sellers.

Our auction team consists of licensed auctioneers, clerks, office/accounts administration and yard men.

How it works on the day:

1. Purchasers will have the option to view the equipment and machinery the day before the auction up and until such time as it goes under the hammer.
2. The auction itself might start at 11am but there is no pre-determined end time. Any auctioneer worth his (or her) salt will stay selling as long as the goods are there to sell bidders remain! Certainly, there are peak auction times in the mid-afternoon but serious bidders will hang around.
3. Once the equipment is sold the clerk sends his/her information to the office administrator. The purchaser can then go to the office to pay.
4. The purchaser will receive a ‘passout’ (proof of purchase) which is given to the yard men to verify that the equipment has been paid for and can be removed from the yard.
5. After sales: We will always have an aftersales team member available on site in case there is equipment which did not meet the reserve price, which we may sell after the auction.

We know the importance of attracting the right bidders so when we are planning a date for an auction we always ensure that there is no other auction on that same day within a 50 kilometer radius. While that might seem excessive, our experience tells us that potential buyers do travel from all over to attend same. Of course, we also take into consideration the peak calendar months for a typical farmer. For example in Spring lambing season and sowing season, the same follows through for harvest.

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