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    Guidelines for property viewings updated due to rising level of Covid-19 cases

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    Updated guidelines regarding property viewings have come into effect from today.
    The Property Services Regulatory Authority (PSRA), the Institute of Professional Auctioneers & Valuers (IPAV) and the Society of Chartered Surveyors Ireland (SCSI) have updated their ‘Property Services Providers Guidance to implementing Plan for Living with Covid-19‘ document which was released last year.
    The document was originally published last October to guide agents on how to operate under the various levels of the Government’s Living with Covid strategy.
    Given the rising number of Covid-19 cases over the Christmas and New Year period, new restrictions have come into effect today which will be reviewed on January 31st.
    The biggest change is that there will now be no in-person viewings of properties unless you’re already at the sale agreed stage with contracts signed.
    A statement from the PSRA said: “Due to the increasing and deeply concerning daily COVID-19 case numbers in Ireland over the very recent period, Government has requested that further tightening of restrictions in delivery of property services be addressed and implemented.
    “Accordingly, IPAV, PSRA and SCSI have reviewed and updated the Property Services Providers Guidance to Implementing a Plan for Living with Covid-19.
    “The revised Guidance document is updated to reflect the further tightening of restrictions in the provision of property services effective from 13 January 2021, which will be reviewed on 31 January 2021.
    “It is critical that you read and fully understand the new section ‘Level 5 Restrictions effective on 13 January 2021 for review on 31 January 2021’ in the document.
    “In order for property service providers, customers and the public remain safe and well, you are requested to comply with these new revised guidelines during the provision of all property services.”
    The guidance can be read in full here. More

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      One in 10 property sales renegotiated during Covid-19

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      About one in ten property sales was renegotiated due to Covid-19 with an average price reduction of 3%, according to a survey of over 260 estate agents nationwide carried out by the Society of Chartered Surveyors of Ireland.
      About two thirds of practitioners said property values had remained unchanged compared to the situation before the pandemic and the subsequent economic shutdown.
      28% said prices had declined with 6% saying they had increased.
      Figures from the Central Statistics Office last week suggested that annual property price inflation nationally practically came to a standstill in June at 0.1%. Dublin prices were down 0.7%.
      The volume of transactions in June dropped by a third compared with the same month last year, the CSO figures indicated.
      A separate set of figures from the Banking and Payments Federation showed that mortgage drawdowns amounted to €1.5 billion between April and the end of June, down 35% on the year.
      About three quarters of estate agents surveyed by the SCSI said they had experienced at least one failed transaction as a result of the pandemic.
      It is estimated from the survey findings that about 12% of sales fell through as a result of Covid-19 and the associated economic shock.
      SCSI Vice President, TJ Cronin – a Cork based estate agent – said the findings underlined the resilience and the adaptability of the property sector, but he warned that the outlook remained challenging.
      “Activity levels have been brisk due to pent-up demand. Confidence within the house purchasing market remains strong, especially among those who have been unaffected financially by Covid-19 or those that had finances in place.”
      “However new mortgage approvals and drawdowns are down, and the salaries of home purchasers are likely to be impacted as a result of Covid-19,” he added.
      On the rental side, the survey found that on average 8% of tenants had not met their monthly rent obligations due to Covid-19.
      Just over a third of these had provided satisfactory evidence of inability to pay to their landlord.
      The SCSI warned of a sharp rise in rent arrears with the removal or reduction of the pandemic support payments. More

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      in Residential

      MyHome.ie Webinar: A chat with Shirley Coulter of the Society of Chartered Surveyors Ireland

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      We’re delighted to bring you the sixth MyHome.ie Webinar today. In this week’s episode Society of Chartered Surveyors Ireland chief executive Shirley Coulter talks about her first six months in the role and the impact Covid-19 has had on the SCSI and its members. Shirley also discusses the importance of technology going forward and looks […] More