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Development Land

Tens of thousands face mortgage crunch as Central Bank warns hikes have yet to pass fully to households

​Tens of thousands of homeowners who have been shielded to date from surging interest rates are at risk of being hammered as their debt is repriced next year, even as financial markets bet the ECB hikes will start to reverse.

The Central Bank warned yesterday that the full hit of higher borrowing costs has not yet been felt, including the 40pc to 50pc of mortgage-holders who have not seen their monthly repayments rise even though the European Central Bank has hiked rates 10 times in 16 months to 4.5pc.

Read the full details in the Irish Independent.

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

 

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Lack of homes available outside Dublin continues to drive up rents nationwide

A lack of properties outside Dublin is continuing to push up rents, even as things stabilise in the capital, with rental stock only a third of where it needs to be.

Prices for new rentals across the country rose by an average of 1.8pc between July and September, compared with the second quarter of the year, and were up 8pc compared with a year ago, the latest report by property website Daft.ie shows.

While 8pc marks the lowest rate of annual inflation in two years – in 2021, rents were rising at almost double that – areas outside Dublin are still facing double-digit hikes.

Sitting tenants have faced much smaller increases of around 3.8pc in the year to mid-2023. The Daft.ie report covers only new rentals.

Read the full details in the Irish Independent.

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

 

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Development Land

Householders urged to take in renters as 21pc of homes have at least two spare bedrooms

New data collected during Census 2022 shows that 21pc of Irish households have two or more spare rooms in their homes, prompting calls for homeowners to consider renting a room.

The census data show for the first time the number of homes with surplus accommodation. Some 389,000 households had two or more bedrooms, which adds up to 778,000 unoccupied bedrooms.

There were 110,000 homes in Ireland with three bedrooms that nobody slept in on census night, accounting for 6pc of all households in Ireland with three rooms unoccupied, or about 330,000 unoccupied bedrooms.

It comes as the latest report from the Residential Tenancies Board (RTB) reveals that the average rent for new tenancies in Dublin has reached a record of €2,102 per month.

Read the full details in the Irish Independent.

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

 

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Rapid-build technologies to facilitate delivery of 1,800 social homes

New rapid-build, prefabricated technologies will be used to deliver approximately 1,800 social homes over the next two years as the Department of Housing targets more innovative construction processes to break the housing logjam.

The department believes the use of more innovative building techniques, such as modular housing, can speed up delivery times and reduce costs while creating more energy-efficient homes.

As part of its latest Housing for All update on Tuesday, it published a “Roadmap for increased adoption of modern methods of construction in public housing delivery”.

“Modern methods of construction” is an umbrella term for a range of new and innovative construction techniques. The private sector construction industry here already uses prefabricated timber frames in about 48 per cent of new homes.

Read the full details in the Irish Times.

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

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Development Land

Dublin house prices fall for sixth month in a row but nationally up 3.6pc on last year

Property prices in Dublin fell for a sixth consecutive month in April.

Prices nationally were stagnant, according to the Central Statistics Office (CSO). The slowdown in the property market was also reflected in a fall in the number of mortgage approvals in the same month.

Successive mortgage rate rises across all the lenders are making it more expensive for buyers.

Read the full details in the Irish Independent.

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

 

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Development Land

First-time buyers pushed to limit as runaway house prices burden them with bigger loans

Mortgage drawdowns hit a 14-year high at the end of 2022, but first-time buyers are approaching their limits as prices rise faster than they can cobble together cash.

New data from the Banking and Payments Federation of Ireland (BPFI) shows the mortgage market grew strongly in the second half of 2022, with the number of loans taken out rising by 24pc to nearly 31,000 in the year – the most since 2008.

Much of that increase was due to the massive growth of the switcher market, with borrowers racing to lock in cheap interest rates as the European Central Bank (ECB) embarked on the steepest rate hikes in its history. However first-time buyers (FTB) still make up the bulk of mortgage customers, although evidence is emerging that runaway house prices are pushing them to the edge of their financial capacity.

Read the full details in the Irish Independent.

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

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Mortgage holders could be hit with a bumper rate rise – the seventh increase since last summer

Homeowners could be facing another European rate rise this week.

The European Central Bank (ECB) is expected to push up its lending rates by at least 0.25 percentage points tomorrow, with some economists now warning of a 0.5 percentage point rate hike.

Such a move would cost those on trackers and variable rates thousands of extra euro in repayments, and push up the cost of new fixed rates for new home buyers.

A 0.5 percentage point rise would mean an extra €390 a year for a typical tracker customer with 11 years of repayments left.

Read the full details in the Irish Independent

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

 

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Uncategorized

State support schemes like ‘rocket-fuel’ for first-time buyers who can shave up to €100,000 off borrowing costs

Savvy first-time buyers are managing to knock up to €100,000 off what they have to borrow for new homes by combining two State support schemes.

Buyers who avail of both the new First Home shared equity scheme, along with the Help-To-Buy tax refund, are managing to buy €320,000 homes with mortgages of just €240,000.

One commentator said this was acting like “rocket-fuel” to propel people on to the property market. But it may also be fuelling continued rising house prices.

The €400m First Home Scheme was launched last July, and provides funding for first-time buyers, people who have been divorced, those who have been declared insolvent to buy a new home.

Read the full details in the Irish Independent

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

 

 

Categories
Development Land

Hundreds approved for scheme that bridges gap for squeezed middle home buyers

THE Government’s First Home shared equity scheme has generated big interest from first-time buyers.

New figures show that 1,336 buyers have been approved for the scheme since it was launched last July.

It is designed to bridge the gap for those whose income is too low to get them a big enough mortgage to buy their first home.

It is for those who do not qualify for social housing, but have not got a big enough income to get a mortgage from a bank or non-bank lender to buy in the current property market.

Read the full details in the Irish Independent

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.

Categories
Development Land

House prices fall for third quarter in a row but freefall not expected

A second property price report has found prices are falling. But its authors insist we are not heading for a new property price collapse.

Asking prices fell in the first three months of the year, according to MyHome.ie – it is the third consecutive quarter of values coming down. They were down by 0.3pc in the first quarter, but are up 3.2pc on the year.

Homes are now being sold for just 1pc over asking price compared with 6pc this time last year.

Last week, a Daft.ie report had similar findings of falling asking prices for properties.

MyHome.ie said Dublin house prices had fallen for four consecutive months and were now 2pc below the peak levels they hit in September last year.

Read the full details in the Irish Independent

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report, Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote.