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Local Property Tax: Everything you need to know about LPT in 2018

October 27, 2017 #

 

Our Local Property Tax, or LPT, was introduced in 2013 and values submitted at that time remain in place until 31st December 2019, following extensions by successive Budgets.  It is important to note that while the valuation period runs for another two years, the actual valuation date is 1st May 2013.  This means that existing homeowners do not need to update their valuation for 2018.  More importantly, while it might seem confusing, it also means that new home owners need to know the valuation of their new home as of 1st May 2013.

For buyers and sellers involved in a transaction this and next month, please note that the liability date for LPT in 2018 is 1st November 2017.  To be clear, if you are the owner of a property next Wednesday, the 1st November  2017, you will be obliged to pay the local property tax in 2018.

So, how much will it cost?

There is much confusion about LPT and this comes down to regional price differences.  Simply put, the tax base rate is 0.18% of the 2013 value of the home or residential property up to €1 million and 0.25% on portion in excess of €1 million.  Each individual local authority nationwide may decide (by vote) to increase or decrease this rate by a variance of 15%.  For 2018, Wicklow County Council has opted not to vary the rate, leaving it at 0.18%.  Meanwhile, Wexford County Council has elected to increase the LPT rate by 10% – this is double last year’s rate, which was 5% in excess of the base rate.

A word of caution

 

LPT returns are self-assessed but if you knowingly or recklessly undervalue your home in order to keep your tax bill low, you could be hit with a penalty of up to €3,000. The penalty is set at the amount of the property tax bill of the corrected valuation. In addition to this penalty, you will have to pay back the tax underpaid together with 8% interest per year on the amount of underpaid tax. It is important to understand that reliance on the Revenue Commissioners’ own online guide to value your home is no defence as this is intended to be a guide only. Valuations submitted back in 2013 are no longer valid and a new valuation will be necessary in time for 2018 LPT return.

For readers outside the Wicklow and Wexford areas, The Irish Times, last month, published a full list of changes to LPT by each local authority and the information can be accesses  as follows:

https://www.irishtimes.com/news/environment/full-list-of-local-property-tax-rate-increases-and-decreases-for-2018-1.3238178

 

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    

Wexford House Price Increases Among Highest in Ireland

October 6, 2017 #

Key highlights from the latest Daft.ie property price report, October 2017:

  • House prices are currently rising at a rate of €50 per day (no typo, that’s per DAY)
  • Wicklow prices are up 9.9%, with an average house price of €315,994
  • Wexford prices are up 11.4% – rising at a rate higher than most of the country – with an average house price of €195,480
  • Stock shortage of all types of residential properties continue; unless new supply becomes available, prices will continue to rise
  • Surprisingly, the increase seen between June and September this year was the smallest nationally since prices bottomed out in late 2013
  • In the final nine months of 2016, approximately 15% of transactions related to newly built homes. In the first nine months of 2017, the rate is slightly higher at 17%

 

daft.ie House Price Report: Q3 2017 – An infographic by the team at daft.ie

 

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       

Ireland’s Residential Property Price Barometer (IPAV)

September 8, 2017 #
Sea Road, Ballymoney, Gorey – Stunning 3 bed €249,000

 

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 Flip Side of Ireland’s Rental Crisis

August 25, 2017 #

There is no crisis without opportunity; sometimes it can be difficult for most people to spot the opportunity but you can be sure that it exists, hidden from plain sight, just waiting to be exploited by the right person.

In fact, the ancient Greek word ‘crisis‘ also translates into ‘opportunity’. 

We saw this in the Irish property market back in 2011/2012, when foreign funds and investors started to buy up chunks of undeveloped land nationwide or entire blocks of unfinished apartments.  Our crisis opened up an opportunity for cash-rich investors who were willing to take a risk that things would improve which, of course, they did – eventually.

So, looking at the marketplace today, savvy investors will no doubt be trying to spot the hidden opportunities in our most recent crisis – our private rental sector.  Earlier this week, on foot of the latest Daft.ie report on the sector, news headlines screamed that we now have fewer available rental properties in Ireland than ever before in recorded history.  And this is not just a Dublin problem, this is happening right across the country.  Here in the South East, quality rentals, particularly houses, are at an all-time low. 

We know that the answer is to build more houses and apartments, we know that developers are trying to do just that, but here is the situation – even if developers’ funding and planning permissions are in place, it is still going to take 18 to 24 months to see any significant delivery.  In reality, it is probably going to be three to four years or more before we see completed developments released to the market in South Wicklow and North Wexford in any real scale.  This means that we are not likely to see much relief to the rental market crisis for some time yet.

If this crisis is set to continue, and it certainly looks that way for the moment, then we need investors looking to the opportunities hidden within the crisis.  We need private landlords back in the market, despite them being hit with burdensome taxes and compliance issues, we need more accommodation right now than the State can reasonably provide. 

One positive step forward is the reclamation of mortgage interest paid by landlords as a legitimate expense – this is happening slowly over successive annual budgets but at least it is happening.

While increased taxes, reduced tax reliefs, onerous RTB and legislation compliance – not to mention rising property prices and low available stock – all make one-off residential investment much less attractive than it might have been a decade ago, we know that rental returns are exceptionally strong at the moment is this is set to continue for the next few years.

Here at Kinsella Estates, we understand that investor finance is more difficult to come by and certainly, margins are much tighter than ever before; however, we also know that affordable houses and apartments can yield annual returns of up to 10%.  For a cash investor, we know that this makes sense.

At the moment we are listing a few of the last remaining homes in County Wicklow for under €100,000.  While some need some upgrading work, others are ready-to-go, high-yielding  investments. 

For example, one of our superb houses in South Wickow, 25 Coollattin Road, Carnew offers unbelievable value at €99,000 for a spacious, four-bedroom house and garden within walking distance of the town, local school and shops.

 

25 Coollattin Road, Carnew, County Wicklow:

 

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       

How to know when it’s the right time to sell?

August 3, 2017 #

Selling your home, holiday home, investment property or perhaps an inherited house or land can be daunting.  With so many questions and so much  – often conflicting – information out there (online or chats over the garden fence), it can be difficult to get straight answers.  When you are thinking of selling, straight answers are exactly what you need.  Property valuations that are too vague, or too general, or that carry lots of exceptions and exclusion clauses are just not helpful.  What you need is local insight that tells you not only the likely open market value of the property today, but more importantly, you need insights into local supply and  demand.  This is the difference between listing your property and actually selling your property – we’re guessing that once you have made the decision to sell, you want to get things moving!

 

Unlike when dealing with an investment or inherited property, the biggest factor in the decision to sell your home should not be market conditions.  Certainly, it is important to be aware of current market performance and undoubtedly, there are times when the market trends favour the buyer moreso than the seller, and vice versa, but none of this is more important than your personal, family and financial position.

 

As your estate agents, our first step  generally is to arrange to do a walk-though of your property.  This helps us to get specific in terms of the market valuation, but it does so much more than that. It is at this point where we use our experience and expertise to help you, as a seller, prepare your home or investment property for the market and a few weeks of viewings. Long gone are the days when sellers can list a property ‘as is’ just to test the market.  The rise in property technology, the increased pace of life and competition in the marketplace all mean that sellers usually only have one opportunity to impress potential buyers in person.  In fact, getting them inside the property requires great photos/videos/3D tours and great copy (which is why you need a great estate agent!).  For this reason, it is recommended that any little fixes around the house are done prior to getting the photographs taken for the brochure and online listing, and certainly before opening up the property for viewings.

 

Sellers must not underestimate the importance of preparing the property and this is equally true for the photography and video (or virtual reality tours) as it is for viewings.  A bright, airy and freshly painted entrance sets a positive tone for the rest of the home.  Stylish furnishings that are consistent with the age/type of property are great but a deep cleaning and decluttering session will go a long way towards impressing house-hunters – as will sparkling windows and neutral tones throughout.

 

For many people, buying and selling their home coincides with other big life events, like changing careers, getting married, starting/growing a family or perhaps downsizing as our children grow up and leave home.  This undoubtedly adds to the pressure, confusion and perhaps feelings of overwhelm.  As this is such a big decision, we understand the importance of getting it right.  Taking the time to discuss your overall plans will help your estate agent to guide you in the right direction.   It is never recommended to make quick decisions in reaction to sudden life changes, but sometimes it has to happen like that.  Having a good relationship with your agent will make the transition smoother.

 

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 team or contact us online.  We are happy to facilitate overseas buyers and sellers via Skype or similar outside of regular office hours.

 

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       

Tips for summertime property sellers

May 4, 2017 #

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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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!).

 

  1. 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                  

What house-hunters are REALLY looking at when viewing your home

March 6, 2017 #
6 The Parade
6 The Parade

Forget the smell of home baking or fresh coffee brewing, a recent survey of house-hunters reveal that a surprisingly high figure of 95% will walk straight to the property’s windows to find out what the view is like.

This research is the first of its kind as it equipped house-hunters with eye-tracking goggles that recorded where people viewed, how often they returned to the same spot and how long they spent in any part of the room.

Now that I think about it, it makes complete sense. Buyers will know what the exterior of the  home looks like from the online posting and from arriving outside, as an estate agent, I know first-hand the importance of  ‘kerb appeal’.  And I can gauge the first impressions of prospective buyers the second they enter the house; some are more discreet (or polite!) than others but it doesn’t take long to figure out whether this is the home for them.

Once inside the front door, and this is true for most rooms they enter, viewers will instinctively head straight for the windows to check out the aspect of the room and, depending upon what they see, a certain impression is created.  This is why rural homes are best seen in daylight and preferably sunshine –   luckily for us, we operate out of the sunny South East so our homes have the edge.

So, knowing the importance of views to would-be buyers, it definitely makes sense to clean up the gardens, dispose of any rubbish or scrap metal and – depending upon the season – have a few planters positioned within the sight of the main windows.  Of course, as we approach daffodil season, this task becomes much easier.

Sellers, I have posted before on the importance of giving your home a thorough cleaning and decluttering before bringing your home to the market, so let’s add touching up the garden to the ‘to do’ list.  Also, knowing that intending buyers walk straight to the windows, please do ensure that window are sparkling clean, window stills are freshly dusted and decades-worth of ornaments are packed away, ready for moving to their new home.  I understand that it is difficult for proud homeowners to accept this but house-hunters need as blank a canvas as possible so that they can imagine their own possessions and family pictures in each room.

Also, while we always stay with the house-hunter to ensure the security and privacy of our sellers, most will look into larger storage presses and under the stairs so avoid the temptation to pile stuff in there when tidying.

Other surprising facts that this research showed up include how viewers barely glance at floors and surfaces but tend to pay more attention to ceiling and cornicing so be sure to keep an eye out for any draping cobwebs.

Finally, a bit of good news for sellers who are scrubbing their property, getting ready to present it to the market, apparent none of the house-hunters opened the oven to check how clean it was!

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.

Local farmers with ‘spending power’ drive big prices for land in Wexford

February 19, 2017 #

irish-indp

Original article by Jim O’Brien, on Independent.ie

The last few weeks of 2016 saw somewhat of a flurry of sales in the auction rooms with good prices achieved, writes Jim O’Brien.

In the southeast, Alan Kinsella of Kinsella Estates Gorey and Carnew sold a 48ac non-residential farm at Ballybuckley, Bree near Enniscorthy in Co Wexford for €662,000 or €13,600/ac.

Located 800m from the village of Bree, the land is about 5km from Enniscorthy and across the road from the well-known Wilton House.

Currently in stubble, the holding is made up of two distinct lots consisting of a 16.15ac parcel with about 300m of road frontage and a 32.33ac parcel with laneway access.

The stubble ground is described by Mr Kinsella as good quality, south-facing land with access from two roads.

At auction, two rounds of bidding saw the amount on offer for the two lots reach a total of €465,000.

The 16.15ac piece opened at €160,000 and with two bidders in the chase, it was making €220,000. The 32.3ac parcel opened at €200,000 and with two bidders in action, it held at €245,000.

Bidding then concentrated on the entire in a sale driven by the two customers who had bid on lot two in the first round. When the amount on offer reached €580,000, Mr Kinsella consulted with the vendor and the property was put on the market at that price.

However, this was far from the end of the story and a further series of bids from three active customers saw the price break the €600,000 mark.

But still the hands kept rising until the hammer fell at €662,000 and a local farmer bought the place for €13,600/ac.

Enniscorthy auction

Staying in Wexford, Frank McGuinness and Michael O’Leary of Sherry FitzGerald O’Leary Kinsella sold a 92ac farm at Fairfield, The Still, Enniscorthy for €1.24m or €13,500/ac.

The holding, which includes a derelict house, has been idle for more than 10 years and will take some works to clear overgrowth and vegetation and bring it back to full farming production.

Auctioneer Frank McGuinness said that although the land is overgrown, it is fundamentally very good productive ground. The place has plenty of road frontage divided as it is by the Enniscorthy to Caim road.

Prior to auction, the property was guided at between €750,000 to €900,000 but on the day it exceeded all expectations.

Frank McGuinness was in charge of the gavel and opened proceedings with a 19ac lot across the road from the main farm. This opened at €150,000 and, with two customers in contention, was bid to €280,000.

The main lot – consisting of 73ac with the derelict house – attracted three interested parties and was bid to a hefty €820,000.

This gave a combined €1.1m for the entire, well ahead of the guide.

Mr McGuinness put the entire to the floor at €1.1m and with two bidders in action it quickly rose to €1.2m.

At this point, a new bidder entered the fray.

With four customers in action, the price rose quickly to €1.24m at which point the hammer fell and the place was bought by a solicitor based in Enniscorthy – believed to be acting for two clients.

Mr McGuinness said that while he was surprised at the price paid, the extension of the M11 to by-pass Enniscorthy and improvements to the New Ross road resulted in a lot of CPO land purchase in the area, hence farmers in the area have spending power.

Alan Kinsella agreed.

“The farmers who sold land for these developments have to spend it on land to avoid paying tax on it so there is more money for land in this vicinity at the moment,” he said.

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.

Lease arrangements now the land letting option of choice

February 19, 2017 #

ballybuckley

Full article by Richard Halleron on Agriland.ie

Increasing numbers of landowners are now opting to set their property on the basis of a long term lease arrangement, according to IFA Grain Committee Chairman Liam Dunne.

In some cases we are talking about periods of up to 15 years, he said.

“The process involves the involvement of both the Revenue and the Department of Agriculture. This is a further reflection of the growing pressure on tillage margins.

“As a consequence, families are deciding to lease their land in a way that gives them a degree of long term security. In turn, this frees them up to look at new ways of generating an income.”

Problems can arise, however, if a leasing arrangement falls through and this has happened in some instances over recent weeks.

Dunne said that many of the land letting prices published in the media do not reflect the average tone of the market.

“Most letting deals are arrived at privately between individuals and price is only one of the factors coming into play.

“Lessees want to make sure that their land will be managed properly. Going for the highest bidder doesn’t always ensure that this will be the case.”

As a rule of thumb rental prices for cereal production will be in the region of the returns on-offer for the first tonne of grain coming off the combine. Wheat is currently making in the region of €150/t.

Dunne said that the reality is that it will take the money generated by the next two tonnes of grain to cover the actual cost of growing the crop.

Alan Kinsella, of Kinsella Estates, also confirmed that an increasing proportion of the land set in Ireland is now tied up in longer term leasing arrangements.

“Most of these have a rental review built in after year two and, where cereal ground is concerned, there will be pressure exerted to have rental costs brought back in 2017,” he said.

Kinsella said that he is also aware of a number of tillage farmers in the south east who have opted out of leasing ground for winter corn this year. Instead, he said they plan to secure land for either a spring cereal or root crop in 2017.

“Whatever 11-month land that is on the market will be become available in January. And the first two auctions will set the trends for the season.”

 

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.

Dublin is ‘Eating’ Ireland: Wicklow & Weford Set to Benefit

February 3, 2017 #

wexford-commuters

According to the Independent newspaper reporting of the recently released ‘Ireland 2040’ document, Dublin is “eating”  the rest of the country

The report, launched by an Taoiseach and the Housing Minister last week, makes for tough reading for most of rural Ireland.  It charts the gradual decline of rural businesses, communities, towns and villages.   The simple reality is that when money leave an area, the people must surely follow.  And this is exactly what happened.  Today,  close to half of all economic activity (49%) is generated in Dublin, which is pulling the labour force away from their home counties and closer to the capital. That figure is particularly worrying when you compare it to our closest neighbours; London generates only 32% of England’s economic activity.

We have been hearing about a two-tier country since the early days of the property crash and here in the South East, we know first-hand that recovery is not happening in a fair, uniform way.  But this report forecasts where the population will be by 2040 if these trends continue,  and it’s not good news for the majority of the country.

As we can see from the above image, all parts of counties Wicklow and Wexford are likely to benefit from this over the coming years and decades as the commuter-belt widens.

Over the past 20 years, half of the population growth in the entire State has been in and around the Dublin area.  Without some big changes, this number is set to jump to 75% of population growth happening in that region by 2040.  This is dire news for many but the South East is now looking more and more attractive, and not just for home buyers and investors.  Businesses looking for a base outside of the capital, healthcare providers, education centres and other service providers are likely to come in this direction.

The work, development and investment cluster will not necessarily happen in Dublin.  In fact, the report suggests that Dublin is or will become ‘the Dublin City Region’, extending into 10 other counties from Cavan to Wexford.

This report will impact hugely on our local planning over the next few years.  As more commuters look south of Dublin and Wicklow, into Wexford, we must ensure that we have enough homes, hospital beds, school places and other necessary facilities for our growing population.  For investors looking to buy strategically, Wexford offers particular value for money with ever-increasing potential for capital value appreciation.

Finally, there is a new State plan to save our rural towns and villages underway, this plan includes grants and incentives for buyers to restore derelict homes, and we’ll talk more about this next week.

 

ireland-2040

 

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.

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