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      MyHome.ie Webinar – Real Estate Alliance chairman Anthony McGee

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      We’re delighted to bring you another MyHome.ie Webinar today.
      In this week’s episode, we chat to Real Estate Alliance chairman Anthony McGee.
      Anthony, who runs REA McGee in Tallaght, discusses the impact of Covid-19 on the business, the launch of their new product BidNow and on the trends he has noticed in the Irish property market in recent months.
      Check it out below…
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      For further details on Real Estate Alliance visit www.realestatealliance.ie. REA McGee’s website can also be found here. More

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      MyHome.ie Webinar – A chat with buyers’ agent Breffnie O’Kelly

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      We’re delighted to bring you another MyHome.ie Webinar today.
      In this week’s episode, we chat to buyers agent Breffnie O’Kelly.
      Breffnie discusses what her job entails, how she can help you find your ideal home and how Covid-19 has changed consumer attitudes towards the housing market over the last six months.
      Check it out below…
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      MFO The Property Professionals relocate to larger offices in Ballsbridge

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      Dublin estate agents MFO The Property Professionals have relocated from Ranelagh to a new larger office at 31 Waterloo Road in Ballsbridge, Dublin 4.
      Run by Marcus O’Connor, MFO The Property Professionals offers a range of property services including residential and commercial sales and lettings, property management, valuations and Building Energy Ratings.

      Marcus O’Connor of MFO The Property Professionals

      Speaking about the office move, Marcus said: “MFO The Property Professionals are delighted to announce having outgrown their old offices in Ranelagh Village they have now moved to larger premises at No. 31 Waterloo Road, Ballsbridge, Dublin 4.
      “Off the back of their 10 year anniversary in 2018 MFO continue to work hard and offer a professional service to all their clients contributing to this measured growth.”
      For further details on MFO The Property Professionals visit www.mfo.ie or call 01 497 9050. More

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      Residential property prices fall by 0.5% nationally

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      Residential property prices decreased by 0.5% nationally in the year to July, according to the latest figures from the Central Statistics Office.
      By contrast was no change in the year to June and an increase of 2.2% in the twelve months to July 2019.
      In Dublin, residential property prices saw a decline of 1.3% in the year to July – house prices decreased by 1.2% and apartments increased by 0.4%. The highest house price growth in Dublin was in Dun Laoghaire-Rathdown at 1.3%, while Dublin City saw a decline of 2.7%.
      Residential property prices in Ireland excluding Dublin were 0.2% higher in the year to July, with house and apartment prices up by 0.3%. The region outside of Dublin that saw the largest rise in house prices was the South-West at 4.3% – at the other end of the scale, the South-East saw a 1.6% decline.
      Overall, the national index is 17.7% lower than its highest level in 2007. Dublin residential property prices are 22.7% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 20.2% lower than their May 2007 peak.
      Property prices nationally have increased by 83.5% from their trough in early 2013. Dublin residential property prices have risen 91.4% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 83.6% higher than at the trough, which was in May 2013. More

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      Prospective homebuyers still confident about buying despite Covid-19 impact

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      71% of potential buyers are planning on purchasing a property in the next year
      40% expect property prices to fall by up to 10% in the next year
      76% believe the Government could do more to help the property sector
      73% feel safe viewing properties at present
      Prospective homebuyers are still confident about their ability to buy despite resilient house prices and the ongoing effect of Covid-19 to the economy, according to a new survey from MyHome.ie.
      The survey suggests that 71% of prospective buyers are still planning on buying a new property in the next year. This compares with 68% of prospective buyers who were surveyed last May.
      However, consumer opinion regarding house prices has changed since the summer. Now, just 13% of survey respondents believe property prices will fall by over 10% in the next year, whereas last May 37% of consumers predicted that outcome.
      Four in ten consumers now believe that prices will fall by up to 10% in the next year, while half of all respondents believe next year will represent a good time to buy property.
      The survey of 2,716 people also found that three-quarters (76%) of respondents believe the Government could do more to help the property sector.
      The virus is expected to have significant long-term effects, with 61% of respondents believing it will lead to more online processes in general to minimise unnecessary contact. Meanwhile, 23% believe it will lead to quicker sales processes in general.
      In a boost to the sector, 73% of respondents to the survey said they felt safe viewing properties at present.
      Angela Keegan, Managing Director of MyHome.ie, said that the findings reflected the ongoing demand that was evident in the market.
      “Even though consumers have not seen the price drops that many predicted when Covid-19 emerged, demand has stayed strong throughout Q2 and Q3. It appears that many prospective buyers have not been hit by the economic fallout from Covid-19. MyHome.ie had its busiest ever month for website traffic last July, and this is reflected in the fact that seven out of ten respondents are planning on purchasing a property in the next year.”
      However, Ms Keegan warned that it was crucial that construction activity be allowed to continue in the coming months.
      “Our analysis shows that stock levels are down by 22% year-on-year, which is concerning. A healthy, functioning property market needs a good balance of supply and demand, and as such we need to see construction continue unimpeded over the winter if at all possible.” More

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      MyHome.ie Webinar – A chat with Steven Blanc of BidX1

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      We’re delighted to bring you another MyHome.ie Webinar today.
      In this week’s episode, we chat to Steven Blanc, Head of Business Development for Bid X1.
      Steven discusses the business, how it has been impacted by Covid-19 and what its plans are going forward including a move into digital private treaty sales.
      Check it out below…
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      You can check out all the latest properties available from BidX1 at www.bidx1.com More

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      Housing market resilient in face of Covid-19

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      Asking price inflation up 1.2% nationally in August compared with Q2 2019
      Dublin inflation up by 0.3%; rest of country up by 1.5%
      Strong quarterly inflation recorded
      Demand likely a combination of high interest from those with mortgage approval and shortage of stock
      Annual house price inflation has risen by over 1% despite the impact of Covid-19, according to analysis from leading property website MyHome.ie and Davy.
      Key findings:
      Region
      Mix-adjusted asking price
      Annual % change (Q2 2019 – > August 2020)
      Quarterly % change (Q2 2020 – > August 2020
      National
      €280,000
      +1.2%
      +4.3%
      Dublin
      €383,000
      +0.3%
      +2.9%
      Ex-Dublin
      €234,000
      +1.5%
      +4.7%
      Asking price inflation rose by 1.2% nationally compared with Q2 2019, by 0.3% in Dublin, and by 1.5% elsewhere around the country.
      The rise in quarterly asking price inflation has been even more pronounced – by 4.3% nationally, 2.9% in Dublin and 4.7% elsewhere around the country.
      This means the mix-adjusted asking price for new sales nationally is €280,000, while the price in Dublin is €383,000 and elsewhere around the country it is €234,000. Newly listed properties are seen as the most reliable indicator of future price movements.
      Conall MacCoille, Chief Economist at Davy, said: “The MyHome data shows pricing has held up during the summer months; the negative 3% inflation rate seen in Q2 2020 now seems an aberration, driven by the small numbers of vendors prepared to put their homes on the market during the exceptionally uncertain period of the lockdown. Looking ahead we think prices will be broadly flat in 2020, or see marginal declines, but the impact of Covid-19 on the housing market could have a longer, slow burn impact than many appreciate.”
      Angela Keegan, Managing Director of MyHome.ie, said the increase in asking prices was likely a combination of people who already have mortgage approval moving to secure properties, and a shortage of stock. “One of the many negative effects of Covid-19 has been the decrease in construction output, which has had significant ramifications for the property market. Anecdotally we are also seeing people who have mortgage approval acting fast to secure properties and this, added to the fact that stock levels are low, is driving asking prices upwards.” More

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      MyHome.ie Webinar – A chat with Maeve McCarthy of Charles McCarthy Estate Agents in Cork

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      We’re delighted to bring you another MyHome.ie Webinar today.
      In this week’s episode, we chat to Maeve McCarthy of Charles McCarthy Estate Agents in West Cork.
      Maeve discusses the increased level of interest in the area since the onset of Covid-19 and the silver lining that might come about from the pandemic.
      Check it out below…
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      You can see Charles McCarthy’s range of properties at charlesmccarthy.com More